Renesas Electronics Reports Financial Results for the Year Ended March 31, 2014

  Renesas Electronics Reports Financial Results for the Year Ended March 31,
  2014

Business Wire

TOKYO -- May 9, 2014

Renesas Electronics Corporation (TSE:6723) today announced consolidated
financial results for the year ended March 31, 2014.


Summary of Consolidated Financial Results
                            Year ended
                           March 31, 2014
                              Billion Yen  % of Net Sales
Net sales                     833.0         100.0
Sales from semiconductors     796.8
Sales from others             36.2
Operating income (loss)       67.6          8.1
Ordinary income (loss)        58.6          7.0
Net income (loss)           (5.3)        (0.6)
Capital expenditures          29.3
Depreciation and others       76.7
R&D expenses                115.3        
                              Yen
Exchange rate (USD)           100
Exchange rate (Euro)        133          
                           
                           As of March 31, 2014
                              Billion Yen
Total assets                  786.0
Net assets                    227.3
Equity                        214.6
Equity ratio (%)              27.3
Interest-bearing debt       270.9        

Note 1:  All figures are rounded to the nearest 100 million yen.
Note 2:   Capital expenditures refer to the amount of order placed for
          property, plant and equipment (manufacturing equipment).
          Depreciation and others includes depreciation and amortization
Note 3:   expenses and amortization of long-term prepaid expenses in quarterly
          consolidated statements of cash flows.
          

Consolidated Financial Results for the Year Ended March 31, 2014
English translation from the original Japanese-language document
                                   
                                        May 9, 2014
                                        
Company name                          : Renesas Electronics Corporation
Stock exchanges on which the          : Tokyo Stock Exchange, First Section
shares are listed
Code number                           : 6723
URL                                   : http://www.renesas.com
Representative                        : Hisao Sakuta, Representative Director,
                                        Chairman and CEO
Contact person                        : Taizo Endo, Executive Manager
                                        Corporate Communications Dept
                                        Tel. +81 (0)3-6756-5552
Date of the ordinary general          : June 25, 2014
shareholders’ meeting (scheduled)
Filing date of Yukashoken             : June 25, 2014
Hokokusho (scheduled)
                                        
                                       (Amounts are rounded to the nearest
                                        million yen)
                                        

1. Consolidated financial results for year ended March 31, 2014

1.1 Consolidated financial  (% of change from corresponding period of the
results                      previous year)
                             Operating        Ordinary         Net income
       Net sales          income          income          (loss)
                             (loss)           (loss)
        Million   %       Million   %    Million   %    Million    %
         yen                 yen              yen              yen

Year
ended
March    833,011    6.0      67,635     ---   58,625     ---   (5,291)     ---
31,
2014

Year
ended
March   785,764   (11.0)  (23,217)  ---  (26,862)  ---  (167,581)  ---
31,
2013

Reference:  Comprehensive income for the year ended    8,783 million yen
             March 31, 2014:
             Comprehensive income for the year ended     (148,542) million yen
             March 31, 2013:
                                                         

                                                        
                         Net income   Net income   Ordinary       Operating
           Net income    (loss) per   (loss)       income         income
         (loss) per   share       ratio per   (loss) ratio  (loss) ratio
           share basic   diluted      equity       per total      per sales
                                                   assets
          Yen          Yen         %           %             %

Year
ended      (5.07)        ---          (3.8)        7.5            8.1
March
31, 2014

Year
ended     (401.76)     ---         (117.7)     (3.5)         (3.0)
March
31, 2013

Reference:  Equity in net income of affiliates of the year   168 million yen
             ended March 31, 2014:
             Equity in net income of affiliates of the year    40 million yen
             ended March 31, 2013:
                                                               

1.2 Consolidated financial position
               Total assets  Net assets   Equity ratio  Net assets per
                                                             share
                Million yen   Million yen  %             Yen
                                                             
March 31, 2014   786,002        227,314       27.3           128.73
                                                             
March 31, 2013  669,104       77,924       10.0          160.01

Reference:            Equity as of March 31,          214,601 million yen
                       2014:
                       Equity as of March 31,           66,744 million yen
                       2013:

Note: Equity is equal to “Net assets” excluding “Share subscription rights”
and “Minority interests”
                                                        

1.3 Consolidated cash flows
             Cash flows     Cash flows     Cash flows     Cash and cash
             from           from           from
                                                     equivalents at the
             operating      investing      financing      end of the year
             activities     activities     activities
            Million yen   Million yen   Million yen   Million yen

Year ended
March 31,    93,722         (19.241)       107,007        265,897
2014
                                                          
Year ended
March 31,   (54,101)      (43,160)      36,849        77,731
2013
                                                          

2. Cash dividends
           Cash dividends per share                                              
             At the    At the    At the    At             Total       Dividends        Dividends
             end of    end of    end of    the            dividends   payout ratio     ratio per net
           first    second   third    end   Total  during     (consolidated)  assets
             quarter   quarter   quarter   of             the year                     (consolidated)
                                           year
            Yen      Yen      Yen      Yen   Yen
Year ended
March 31,    ---       0.00      ---       0.00   0.00    ---         ---              ---
2014
Year ended
March 31,   ---      0.00     ---      0.00  0.00   ---        ---             ---
2013
Year
ending
March 31,
2015        ---      ---      ---      ---   ---              ---             
(forecast)


                                                                                       

3. Forecast of consolidated results for the three months ending June 30, 2014
(% of change from corresponding period of the previous year)
                                                                          Net
                         Operating        Ordinary         Net income     income
       Net sales      income (loss)   income (loss)   (loss)        (loss)
                                                                          per
                                                                          share
        Million  %    Million  %     Million  %     Million  %   yen
         yen             yen              yen              yen
Three
months
ending  202,000  0.7  200,00   17.9  175,00   13.8  140,00   --  8.40
June
30,
2014

Note:  Change in forecast of consolidated results since the most recently
        announced forecast: No
Please refer to Appendix 1.3., “Consolidated Forecasts” on page 7.


4. Others

4.1 Changes in significant subsidiaries for the year ended March 31, 2014
(Changes in specified subsidiaries resulting in changes in scope of
consolidation): No

4.2 Changes in Accounting Policies, Changes in Accounting Estimates and
Corrections of Prior Period Errors
1. Changes in accounting policies with revision of accounting standard: Yes
2. Changes in accounting policies except for "Changes in Accounting Policies":
No
3. Changes in accounting estimates: No
4. Corrections of prior period errors: No
                                               
4.3 Number of shares issued and outstanding (common stock)
1. Number of shares issued and outstanding (including treasury stock)
As of March 31, 2014: 1,667,124,490 shares
As of March 31, 2013: 417,124,490 shares
                                                                 
2. Number of treasury stock
As of March 31, 2014: 2,548 shares
As of March 31, 2013: 2,548 shares
                                                                 
3. Average number of shares issued and outstanding
For the year ended March 31, 2014: 1,043,834,271 shares
For the year ended March 31, 2013: 417,121,942 shares
                                                                 

(Reference) Non-consolidated results for the year ended March 31, 2014

Non-consolidated financial results

(% of change from corresponding period of the previous year)
       Net sales         Operating income  Ordinary        Net income
                            (loss)             income (loss)    (loss)
        Million   %      Million     %    Million    %   Million    %
         yen                yen                yen              yen
                                                                            
Year
ended
March    738,088    9.1     22,386       --    15,554      --   (12,527)    --
31,
2014
                                                                            
Year
ended
March   676,275   (7.9)  (61,050)    --   (30,781)   --  (189,002)  --
31,
2013

                            Net income          Net income
                          (loss) per share:  (loss) per share:
                            basic               diluted
                           Yen                Yen
                                                
Year ended March 31, 2014   (12.00)             --
                                                
Year ended March 31, 2013  (453.11)           --
                                                

Non-consolidated financial position

                                                     
               Total assets  Net assets   Equity ratio  Net assets per
                                                             share
                Million yen   Million yen  %             Yen
                                                             
March 31, 2014   731,800        157,455       21.5           94.45
                                                             
March 31, 2013  667,145       19,880       3.0           47.66

Reference:  Equity at the end of the year ended March    157,455 million yen
             31, 2014:
             Equity at the end of the year ended March     19,880 million yen
             31, 2013:
                                                           

(Note) Information regarding the implementation of audit procedures
These financial statements are under the audit procedures based upon the
Financial Instruments and Exchange Act at the time of issuance of this report.

Cautionary Statement

The statements with respect to the financial outlook of Renesas Electronics
Corporation (hereafter “the Company”) and its consolidated subsidiaries are
forward-looking statements involving risks and uncertainties. The Company
cautions you in advance that actual results may differ materially from such
forward-looking statements due to changes in several important factors.

The Renesas Electronics Corporation and its consolidated subsidiaries
(hereafter “the Group”) will hold an earnings conference for institutional
investors and analysts on May 9, 2014. The Group plans to post the materials
which are provided at the meeting, on the Group’s homepage on that day.

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 Contacts
Kyoko Okamoto, +81 3-6756-5555
pr@renesas.com
Investor Contacts
Makie Uehara, +81 3-6756-5552
ir@renesas.com
 
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