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Notice Concerning the Difference between Forecasts and Actual Financial Results for the Year Ended March 31, 2014

  Notice Concerning the Difference between Forecasts and Actual Financial
  Results for the Year Ended March 31, 2014

Business Wire

TOKYO -- May 9, 2014

Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced
semiconductor solutions, today announced its difference between consolidated
financial forecasts, which it disclosed on February 6, 2014, and actual
results, which it disclosed today, for the year ended March 31, 2014 (the
period from April 1, 2013 to March 31, 2014).

1. Difference between consolidated forecasts and actual results for the year
ended March 31, 2014

                                                           
(April 1, 2013 to March                         In millions of yen
31, 2014)
                                                                      Net
                             Operating     Ordinary     Net           Income
             Net        Income      Income     Income      (Loss)
                Sales        (loss)        (Loss)       (Loss)        per
                                                                      Share
                                                                      (Yen)
Previous
forecasts
(As of        822,500    54,700      44,200     (21,800)    (20.88)
February 6,
2014)
Actual        833,011    67,635      58,625     (5,291)     (5.07)
results
Increase      10,511     12,935      14,425     16,509      15.81
(decrease)
Percent       1.3%       23.6%       32.6%      75.7%       75.7%
change
Reference
Results for
the year      785,764    (23,217)    (26,862)   (167,581)   (401.76)
ended March
31, 2014
                                                                      

Background to the difference

Renesas announced the following financial results for the year ended March 31,
2014: net sales were 833.0 billion yen, 10.5 billion yen up from the previous
forecast (announced on February 6, 2014); semiconductor sales were 796.8
billion yen, 6.8 billion yen up from the previous forecast.

Operating income (loss), ordinary income (loss) and net income (loss) were all
better than the company’s estimates, mainly owing to semiconductor sales being
over the company’s expectation and its efforts on promoting cost-containment
measures.

Details will be explained in Renesas’ announcement of financial results for
the year ended March 31, 2014 on May 9, 2014.

Forward-Looking Statements

The statements in this press release with respect to the plans, strategies and
financial outlook of Renesas Electronics and its consolidated subsidiaries
(collectively “we”) are forward-looking statements involving risks and
uncertainties. We caution you in advance that actual results may differ
materially from such forward-looking statements due to several important
factors including, but not limited to, general economic conditions in our
markets, which are primarily Japan, North America, Asia, and Europe; demand
for, and competitive pricing pressure on, products and services in the
marketplace; ability to continue to win acceptance of products and services in
these highly competitive markets; and fluctuations in currency exchange rates,
particularly between the yen and the U.S. dollar. Among other factors,
downturn of the world economy; deteriorating financial conditions in world
markets, or deterioration in domestic and overseas stock markets, may cause
actual results to differ from the projected results forecast.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world’s number one supplier
of microcontrollers, is a premier supplier of advanced semiconductor solutions
including microcontrollers, SoC solutions and a broad-range of analog and
power devices. Business operations began as Renesas Electronics in April 2010
through the integration of NEC Electronics Corporation (TSE:6723) and Renesas
Technology Corp., with operations spanning research, development, design and
manufacturing for a wide range of applications. Headquartered in Japan,
Renesas Electronics has subsidiaries in 20 countries worldwide. More
information can be found at www.renesas.com.

Contact:

Renesas Electronics Corporation
Media:
Kyoko Okamoto, +81 3-6756-5555
pr@renesas.com
or
Investors:
Makie Uehara, +81 3-6756-5552
ir@renesas.com
 
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