TOKYO — (BUSINESS WIRE) — February 8, 2022 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the year ended December 31, 2021.
Summary of Consolidated Financial Results (Note 1)
|
Year ended
|
||
|
Billion Yen |
% of Revenue |
|
Revenue |
994.4 |
100.0 |
|
Operating profit |
183.6 |
18.5 |
|
Profit attributable to owners of parent |
127.3 |
12.8 |
|
Capital expenditures (Note 2) |
88.0 |
|
|
Depreciation and others (Note 3) |
136.5 |
|
|
R&D expenses (Note 4) |
156.3 |
|
|
|
Yen |
|
|
Exchange rate (USD) |
109 |
|
|
Exchange rate (EUR) |
130 |
|
|
|
As of December 31, 2021 |
|
Billion Yen |
Total assets |
2,406.2 |
Total equity |
1,161.5 |
Equity attributable to owners of parent |
1,158.1 |
Equity ratio attributable to owners of parent (%) |
48.1 |
Interest-bearing liabilities |
830.9 |
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 year ended December 31, 2021. However, the investments from the former Dialog Semiconductors Plc (hereinafter Dialog) are listed as an input basis. |
|
Note 3: |
Depreciation and others includes depreciation of property, plant and equipment, amortization of intangible assets and amortization of long-term prepaid expenses in consolidated statements of cash flows. |
|
Note 4: |
R&D expenses includes capitalized R&D expenses recorded as intangible assets. |
RENESAS ELECTRONICS CORPORATION |
|
Consolidated Financial Results for the Year Ended December 31, 2021 |
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English translation from the original Japanese-language document |
|
February 9, 2022 |
|
Company name |
: Renesas Electronics Corporation |
Stock exchanges on which the shares are listed |
: Tokyo Stock Exchange, First Section |
Code number |
: 6723 |
URL |
|
Representative |
: Hidetoshi Shibata, President and CEO |
Contact person |
: Masayuki Nagayama, Vice President, CEO Office Tel. +81 (0)3-6773-3002 |
Filing date of Yukashoken Hokokusho (scheduled) |
: March 30, 2022 |
(Amounts are rounded to the nearest million yen)
1. Consolidated financial results for the year ended December 31, 2021
1.1 Consolidated financial results (% of change from corresponding period of the previous year)
|
Revenue |
Operating
|
Profit
|
Profit |
Profit
|
Total
|
||||||||||||
|
Million yen |
% |
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
% |
||||||
Year ended December 31, 2021 |
994,418 |
38.9 |
183,601 |
181.8 |
152,463 |
133.8 |
127,412 |
178.6 |
127,261 |
178.9 |
165,728 |
--- |
||||||
Year ended December 31, 2020 |
715,673 |
(0.4) |
65,142 |
940.1 |
65,216 |
--- |
45,726 |
--- |
45,626 |
--- |
(19,228) |
--- |
||||||
|
Basic
|
Diluted
|
Net income
|
Profit
|
Operating
|
|
Yen |
Yen |
% |
% |
% |
Year ended December 31, 2021 |
68.96 |
67.44 |
14.3 |
7.6 |
18.5 |
Year ended December 31, 2020 |
26.54 |
25.97 |
7.4 |
4.0 |
9.1 |
1.2 Consolidated financial position
|
Total assets |
Total equity |
Equity attributable to owners |
Ratio of equity attributable to owners |
Equity attributable to owners per share |
|
Million yen |
Million yen |
Million yen |
% |
Yen |
December 31, 2021 |
2,406,247 |
1,161,460 |
1,158,143 |
48.1 |
595.8 |
December 31, 2020 |
1,608,985 |
619,661 |
616,701 |
38.3 |
356.1 |
1.3 Consolidated cash flows
|
Cash flows from
|
Cash flows from
|
Cash flows from
|
Cash and cash
|
|
Million yen |
Million yen |
Million yen |
Million yen |
Year ended December 31, 2021 |
307,384 |
(663,126) |
340,915 |
221,924 |
Year ended December 31, 2020 |
223,889 |
(40,163) |
(104,470) |
219,786 |
2. Cash dividends
|
Cash dividends per share |
Total dividend during the year |
Dividends payout ratio
|
Dividends ratio per assets
|
||||
|
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
|
--- |
0.00 |
--- |
0.00 |
0.00 |
--- |
--- |
--- |
Year ending
|
--- |
0.00 |
--- |
0.00 |
0.00 |
--- |
--- |
--- |
Year ending
|
--- |
--- |
--- |
--- |
--- |
|
--- |
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Note: For the year ending December 31, 2022, whether the Group provides dividend payments remains undecided. |
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3. Forecast of consolidated results for the three months ending March 31, 2022
|
Revenue |
Non-GAAP Gross Margin |
Non-GAAP Operating Margin |
|||
Million yen |
% |
% |
%pts |
% |
%pts |
|
336,000 |
65.0 |
55.5 |
5.3 |
34.5 |
8.7 |
|
Three months ending March 31, 2022 |
(±4,000) |
(±2.0) |
|
|
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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 1.4 Consolidated Forecasts on page 6. |
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Note 2: |
Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS) 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. However, the figure provided as revenue is based on IFRS and does not include non-GAAP adjustments. |
4. Others
| 4.1 | Changes in significant subsidiaries for the full year ended December 31, 2021: Yes |
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(Changes in specified subsidiaries resulting in changes in scope of consolidation) |
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New: 1 (Company name) Celeno Communications Inc. (hereinafter “Celeno”) |
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|
|||
| 4.2 | Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors |
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1. Changes in accounting policies with revision of accounting standard: No |
|||
2. Changes in accounting policies except for 4.2.1: No |
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3. Changes in accounting estimates: No |
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|
|||
| 4.3 | Number of shares issued and outstanding (common stock) |
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1. Number of shares issued and outstanding (including treasury stock) |
|||
As of December 31, 2021: |
1,943,805,775 shares |
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As of December 31, 2020: |
1,731,898,990 shares |
||
|
|||
| 2. Number of treasury stock | |||
As of December 31, 2021: |
2,581 shares |
||
As of December 31, 2020: |
2,581 shares |
||
|
|||
3. Average number of shares issued and outstanding |
|||
Year ended December 31, 2021: |
1,845,523,704 shares |
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Year ended December 31, 2020: |
1,719,344,659 shares |
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(Reference) Non-consolidated results for the year ended December 31, 2021
Non-consolidated financial results
|
Net sales |
Operating income |
Ordinary income |
Net income |
||||||||
|
Million yen |
% |
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
||||
Year ended
|
771,277 |
36.8 |
165,006 |
233.7 |
129,862 |
145.8 |
113,928 |
140.1 |
||||
Year ended
|
563,908 |
1.7 |
49,447 |
46.2 |
52,843 |
223.2 |
47,458 |
178.7 |
||||
|
Net income per share: basic |
Net income per share: diluted |
|
Yen |
Yen |
December 31, 2021 |
61.73 |
60.38 |
December 31, 2020 |
27.60 |
27.01 |
Non-consolidated financial position
|
Total assets |
Net assets |
Equity ratio |
Net assets per share |
|
Million yen |
Million yen |
% |
Yen |
December 31, 2021 |
2,385,940 |
913,301 |
37.7 |
463.03 |
December 31, 2020 |
1,628,721 |
566,100 |
33.8 |
317.65 |
| Reference: | Equity at the end of the year ended December 31, 2021: 900,032 million yen |
|
Equity at the end of the year ended December 31, 2020: 550,141 million yen |
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| (Note) | Information regarding the implementation of audit procedures: These financial results are not subject to audit review procedures. |
Cautionary Statement
The Group will hold an earnings conference for institutional investors and analysts on February 9, 2022. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.
The statements with respect to the financial outlook of Renesas Electronics Corporation (hereinafter “the Company”) and its consolidated subsidiaries (hereinafter “the Group”) 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 changes in several important factors. |
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. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220208006301/en/
Contact:
Media Contacts
Kyoko Okamoto
Renesas Electronics Corporation
+81 3-6773-3001
pr@renesas.com
Investor Contacts
Toshio Ninomiya
Renesas Electronics Corporation
+81 3-6773-3002
ir@renesas.com