TOKYO — (BUSINESS WIRE) — February 7, 2017 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the year ended December 31, 2016.
Summary of Consolidated Financial Results
Year ended
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Billion Yen | % of Net Sales | |||
Net sales | 471.0 | 100.0 | ||
Sales from semiconductors |
457.2 | |||
Sales from others | 13.9 | |||
Operating income | 54.7 | 11.6 | ||
Ordinary income | 50.0 | 10.6 | ||
Net income attributable to shareholders of parent company | 44.1 | 9.4 | ||
Capital expenditures | 72.8 | |||
Depreciation and others | 45.3 | |||
R&D expenses | 78.1 | |||
Yen | ||||
Exchange rate (USD) | 106 | |||
Exchange rate (EUR) | 118 | |||
As of December 31, 2016 | ||||
Billion Yen | ||||
Total assets | 823.1 | |||
Net assets | 422.4 | |||
Equity Capital | 420.2 | |||
Equity ratio (%) | 51.0 | |||
Interest-bearing debt | 157.3 |
Note 1: |
All figures are rounded to the nearest 100 million yen. |
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Note 2: |
At the 14th Ordinary General Shareholders’ Meeting held on June 28, 2016, a partial amendment to the Articles of Incorporation was approved and Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end changed from March 31 to December 31 starting from the fiscal year 2016. The fiscal year (fiscal year ended December 31, 2016) in which the transition to the new accounting period took place, comprised the financial results for the nine months from April 1, 2016, to December 31, 2016. |
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Note 3: |
Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment) and intangible assets. |
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Note 4: |
Depreciation and others includes depreciation and amortization of intangible assets and amortization of long-term prepaid expenses in quarterly consolidated statements of cash flows. |
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Consolidated Financial Results for the Year Ended December 31, 2016 |
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English translation from the original Japanese-language document | ||
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February 8, 2016 |
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Company name |
: Renesas Electronics Corporation |
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Stock exchanges on which the shares are listed |
: Tokyo Stock Exchange, First Section |
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Code number |
: 6723 |
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URL |
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Representative |
: Bunsei Kure, Representative Director, |
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President and CEO |
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Contact person |
: Yoichi Kobayashi, Senior Manager |
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Corporate Communications Dept. |
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Tel. +81 (0)3-6773-3002 |
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Date of the ordinary general shareholders’ meeting (scheduled) |
: March 30, 2017 |
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Filing date of Yukashoken Hokokusho (scheduled) |
: March 30, 2017 |
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(Amounts are rounded to the nearest million yen) |
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1. Consolidated financial results for the year ended December 31, 2016
1.1 Consolidated financial results |
(% of change from corresponding period of the previous year) |
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Net sales |
Operating
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Ordinary
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Net income
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Million
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% |
Million
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% |
Million
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% |
Million
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% | |||||||||
Year ended December 31, 2016 | 471,031 | --- | 54,711 | --- | 49,986 | --- | 44,119 | --- | ||||||||
Year ended March 31, 2016 | 693,289 | (12.4) | 103,782 | (0.6) | 102,100 | (3.1) | 86,292 | 4.8 | ||||||||
Reference: |
Comprehensive income for the year ended December 31, 2016: 40,638 million yen (--%) |
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Comprehensive income for the year ended March 31, 2016: 69,838 million yen (-43.0%) |
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Net income
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Net income
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Net income
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Ordinary
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Operating
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Yen | Yen | % | % | % | ||||||
Year ended December 31, 2016 |
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26.46 | 26.46 | 11.0 | 6.0 | 11.6 | |||||
Year ended March 31, 2016 | 51.76 | --- | 25.0 | 12.1 | 15.0 | |||||
Reference: |
Equity in net income of affiliates of the year ended December 31, 2016: 33 million yen |
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Equity in net income of affiliates of the year ended March 31, 2016: 5 million yen |
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Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end changed from March 31 to December 31, starting from the fiscal year 2016. Accordingly, the percent of change from the corresponding period of the previous year is not indicated, since the fiscal year ended December 31, 2016 (March 31, 2016 to December 31, 2016) and the previous fiscal year (April 1, 2015 to March 31, 2016) cover different periods.
[Reference] |
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The following adjusted change [%] are comparisons of consolidated results for the fiscal year ended December 31, 2016 and the consolidated results listed below are compared with the corresponding period of the previous year (April 1, 2015 to December 31, 2015). (All numbers are in millions of yen) |
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Net sales |
Operating income |
Ordinary income |
Net income attributable to shareholders of parent company |
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471,031 |
54,711 |
49,986 |
44,119 |
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-10.4% |
-37.9% |
-10.4% |
-41.9% |
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1.2 Consolidated financial position |
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Total assets | Net assets | Equity ratio |
Net assets per
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Million yen | Million yen | % | Yen | |||||
December 31, 2016 | 823,054 | 422,393 | 51.0 | 252.03 | ||||
March 31, 2016 | 849,376 | 381,739 | 44.7 | 227.63 | ||||
Reference: |
Equity as of December 31, 2016: 420,162 million yen |
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Equity as of March 31, 2016: 379,479 million yen |
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1.3 Consolidated cash flows |
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Cash flows
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Cash flows from
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Cash flows from
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Cash and cash
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Million yen | Million yen | Million yen | Million yen | |||||
Year ended December 31, 2016 |
95,882 |
(48,911) |
(97,161) |
354,287 |
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Year ended March 31, 2016 | 126,296 | (33,551) | (30,339) | 398,410 | ||||
2. Cash dividends
Cash dividends per share |
Total
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Dividends
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Dividends ratio per
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At the
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At the
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At the
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At the
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Total | ||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||
Year ended
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--- | 0.00 | --- | 0.00 | 0.00 | --- | --- | --- | ||||||||
Year ended
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--- | 0.00 | --- | 0.00 | 0.00 | --- | --- | --- | ||||||||
Year ending
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--- | --- | --- | --- | --- |
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--- | |||||||||
3. Forecast of consolidated results for the three months ending March 31, 2017
(% of change from corresponding period of the previous year) |
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Net sales |
Operating
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Ordinary
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Net income
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Net
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Million yen |
% |
Million yen |
% |
Million yen |
% |
Million yen |
% |
Yen |
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Three months ending
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171,000 | --- | 23,000 | --- | 22,000 | --- | 19,000 | --- | 11.40 | |||||||||
Note: Change in forecast of consolidated results since the most recently announced forecast: No |
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Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end changed from March 31 to December 31, starting from the fiscal year 2016. Accordingly, the percent of change from the corresponding period of the previous year is not indicated, since the first quarter of the fiscal year ending December 31, 2017 (January 1, 2017 to March 31, 2017) and the first quarter of the previous fiscal year (April 1, 2016 to June 30, 2016) cover different periods. The Group reports its consolidated forecast on a quarterly basis as a substitute for a yearly forecast. For details, refer to page 3 of the Appendix.
[Reference] |
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The following adjusted changes [%] are comparisons of consolidated results for the fiscal year ended December 31, 2016 adjusted for a 12-month period (January 1, 2016 to December 31, 2016) with the forecasts for the three months ending March 31, 2017. Note that the consolidated results for the fiscal year ended December 31, 2016 adjusted for a 12-month period (January 1, 2016 to December 31, 2016) have not been subject to an audit procedure. (All numbers are in millions of yen) | ||||||
Net sales |
Operating income |
Ordinary income |
Net income attributable to shareholders of parent company |
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171,000 |
23,000 |
22,000 |
19,000 |
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+1.9% |
+46.3% |
+95.7% |
+84.6% |
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4. Others
4.1 Changes in significant subsidiaries for the year ended December 31,
2016
(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:
No
2. Changes in accounting policies except for 4.2.1: 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 December 31, 2016: 1,667,124,490 shares
As of March 31, 2016:
1,667,124,490 shares
2. Number of treasury stock
As of December 31, 2016: 2,581 shares
As
of March 31, 2016: 2,581 shares
3. Average number of shares issued and outstanding
For the year
ended December 31, 2016: 1,667,121,909 shares
For the year ended
March 31, 2016: 1,667,121,924 shares
(Reference) Non-consolidated results for the year ended December 31, 2016
Non-consolidated financial results |
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(% of change from corresponding period of the previous year) |
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Net sales |
Operating
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Ordinary
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Net income |
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Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||||
Year ended
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434,837 | -- | 36,514 | -- | 30,321 | -- | 27,241 | -- | ||||||||
Year ended
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651,022 | (9.4) | 93,020 | 25.4 | 88,258 | 22.5 | 65,555 | (22.5) |
Net income
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Net income per
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Yen | Yen | |||
Year ended
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16.34 | 16.34 | ||
Year ended
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39.32 | -- | ||
Non-consolidated financial position
Total assets |
Net assets | Equity ratio |
Net assets per
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Million yen | Million yen | % | Yen | |||||
December 31, 2016 | 740,756 | 318,895 | 43.0 | 191.27 | ||||
March 31, 2016 | 798,625 | 282,617 | 35.4 | 169.52 | ||||
Reference: |
Equity at the end of the year ended December 31, 2016: 318,872 million yen |
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Equity at the end of the year ended March 31, 2016: 282,617 million yen |
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(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.
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Cautionary Statement
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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 (
TSE:
6723) 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. The
number one
global
supplier of microcontrollers, and a leader in Analog & Power and SoC
products, Renesas provides the expertise, quality, and comprehensive
solutions for a broad range of Automotive, Industrial, Home Electronics
(HE), Office Automation (OA) and Information Communication Technology
(ICT) applications to help shape a limitless future. Learn more at
renesas.com.
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Contact:
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Renesas Electronics Corporation
Kyoko
Okamoto, +81 3-6773-3001
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or
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Contacts
Renesas Electronics Corporation
Makie Uehara, +81
3-6773-3002
Email Contact