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press release

April 28, 2021, 4:45 a.m. EDT

Renesas Electronics Reports Financial Results for the First Quarter Ended March 31, 2021

Renesas Electronics Corporation /zigman2/quotes/203872935/delayed JP:6723 -0.78% today announced consolidated financial results in accordance with IFRS for the three months ended March 31, 2021.

Summary of Consolidated Financial Results (Note 1)

Three months ended March 31, 2021
Billion Yen % of Revenue
Revenue 203.7 100.0
Operating profit 30.2 14.8
Profit attributable to owners of parent 13.7 6.7
Capital expenditures (Note 2) 28.1
Depreciation and others 32.5
R&D expenses (Note 3) 33.2
Yen
Exchange rate (USD) 104
Exchange rate (EUR) 127
As of March 31, 2021
Billion Yen
Total assets 1,688.1
Total equity 721.1
Equity attributable to owners of parent 718.0
Equity ratio attributable to owners of parent (%) 42.5
Interest-bearing liabilities 671.1
Note 1: All figures are rounded to the nearest 100 million yen.
Note 2: Capital expenditures refer to the amount of capital for property, plant and equipment (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the three months ended March 31, 2021. However, the investments from the former Integrated Device Technology, Inc. (hereinafter “IDT”)’ are listed as an input basis.
Note 3: R&D expenses includes capitalized R&D expenses recorded as intangible assets.
RENESAS ELECTRONICS CORPORATION
April 28, 2021
Company name : Renesas Electronics Corporation
Stock exchanges on which the shares are listed : Tokyo Stock Exchange, First Section
Code number : 6723
URL : https://www.renesas.com
Representative : Hidetoshi Shibata, Representative Director, President and CEO
Contact person : Fujiko Yamaguchi, Vice President, CEO Office
Tel. +81 (0)3-6773-3002
Filing date of Shihanki Hokokusho (scheduled) : May 14, 2021

(Amounts are rounded to the nearest million yen)

1. Consolidated financial results for the three months ended March 31, 2021

1.1 Consolidated financial results (% of change from corresponding period of the previous year)

  Revenue Operating profit Profit before tax Profit Profit attributable to owners of parent Total comprehensive income
  Million   % Million % Million % Million   % Million % Million %
Three months ended March 31, 2021 203,678   14.0 30,191 126.8 17,624 24.3 13,806   21.6 13,714 21.5 98,475 ---
Three months ended March 31, 2020 178,743   19.0 13,313 --- 14,178 --- 11,358   --- 11,289 --- (985) ---
  Basic earnings per share Diluted earnings per share
  Yen Yen
Three months ended March 31, 2021 7.92 7.75
Three months ended March 31, 2020 6.60 6.49

1.2 Consolidated financial position

  Total assets Total equity Equity attributable to owners Ratio of equity attributable to owners
  Million yen Million yen Million yen %
March 31, 2021 1,688,082 721,134 717,974 42.5
December 31, 2020 1,608,985 619,661 616,701 38.3

2. Cash dividends

  Cash dividends per share
At the end of
first quarter
At the end of
second quarter
At the end of
third quarter
At the end of
year
Total
  Yen Yen Yen Yen Yen
Year ended
December 31, 2020
--- 0.00 --- 0.00 0.00
Year ending
December 31, 2021
---        
Year ending
December 31, 2021
  0.00 --- --- ---
Note: Change in forecast of cash dividends since the most recently announced forecast: Yes

3. Forecast of consolidated results for the six months ending June 30, 2021

  Non-GAAP Revenue Non-GAAP Gross Margin Non-GAAP Operating Margin
Million yen % % %pts % %pts
Six months ending June 30 2021 407,678 18.2 50.1 2.7 24.7 6.2
(±4,000) (±1.2)
Note 1: The Group reports its consolidated forecast on a quarterly basis (cumulative quarters) as substitute for a yearly forecast in a range format. The revenue forecast is provided assuming the midpoint and the range of the forecast are listed in brackets. The gross margin and the operating margin forecasts are provided assuming the midpoint in the revenue forecast. For details, please refer to Appendix 1.3. “Consolidated Forecasts” on page 6.
Note 2: Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP figures following a certain set of rules. The Group believes non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results, and therefore forecasts are provided on a non-GAAP basis.

4. Others

4.1   Changes in significant subsidiaries for the three months ended March 31, 2021: No
    (Changes in specified subsidiaries resulting in changes in scope of consolidation)
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: No
    2. Changes in accounting policies except for 4.2.1: No
    3. Changes in accounting estimates: 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, 2021: 1,732,968,290 shares
        As of December 31, 2020: 1,731,898,990 shares
           
    2. Number of treasury stock
        As of March 31, 2021: 2,581 shares
        As of December 31, 2020: 2,581 shares
           
    3. Average number of shares issued and outstanding
        Three months ended March 31, 2021: 1,732,607,242 shares
        Three months ended March 31, 2020: 1,710,788,376 shares

(Note) Information regarding the implementation of audit procedures
These financial results are not subject to quarterly review procedures by the independent auditor.

Cautionary Statement
The Group will hold an earnings conference for institutional investors and analysts on April 28, 2021. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.

Forward-Looking Statements

The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics Corporation 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 /zigman2/quotes/203872935/delayed JP:6723 -0.78% delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live—securely and safely. A global leader in microcontrollers, analog, power, and SoC products and integrated platforms, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics, Office Automation and Information Communication Technology applications to help shape a limitless future. Learn more at renesas.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005438/en/

SOURCE: Renesas Electronics Corporation

Media Contacts
Kyoko Okamoto
Renesas Electronics Corporation
+81 3-6773-3001
pr@renesas.com Investor Contacts
Shigeo Muto
Renesas Electronics Corporation
+81 3-6773-3002
ir@renesas.com

COMTEX_385216346/2456/2021-04-28T04:45:29

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/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 1,147.00
-9.00 -0.78%
Volume: 10.62M
July 26, 2021 3:00p
P/E Ratio
42.07
Dividend Yield
N/A
Market Cap
¥2233.65 billion
Rev. per Employee
¥38.16M
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/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 1,147.00
-9.00 -0.78%
Volume: 10.62M
July 26, 2021 3:00p
P/E Ratio
42.07
Dividend Yield
N/A
Market Cap
¥2233.65 billion
Rev. per Employee
¥38.16M
loading...

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