PresseBox
Press release BoxID: 656385 (Renesas Electronics Europe)
  • Renesas Electronics Europe
  • Arcadiastrasse 10
  • 40472 Düsseldorf
  • http://www.renesas.eu

Notice Concerning the Difference Between Forecasts and Actual Financial Results for the Nine Months Ended December 31, 2013

(PresseBox) (TOKYO, Japan, ) Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today announced its difference between consolidated financial forecasts, which it disclosed on October 30, 2013, and actual results, which it disclosed today, for the nine months ended December 31, 2013 (the period from April 1, 2013 to December 31, 2013).

1. Difference between consolidated forecasts and actual results for the nine months ended December 31, 2013

Background to the difference

Renesas announced the following financial results for the nine months ended December 31, 2013: net sales were 632.5 billion yen, 18.6 billion yen up from the previous forecast (announced on October 30, 2013); semiconductor sales were 605.0 billion yen, 17.7 billion yen up from the previous forecast.

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

Quarterly net income (loss) was below the company's estimate, mainly owing to recording of additional special losses, including an impairment loss on fixed assets in accordance with the transfer of semiconductor manufacturing facility and related equipment of the company's consolidated subsidiary, which was announced on February 6, 2014, in the news release “Notice Concerning the Recording of Special Income and Losses”.

Details will be explained in Renesas' announcement of financial results for the third quarter ended December 31, 2013 on February 6, 2014.