Renesas Electronics Announces Consolidated Financial Forecasts and Forecasts of Cash Dividends for the Fiscal Year Ending March 31, 2014
1. Consolidated forecasts for the fiscal year ending March 31, 2014
The forecasts for the fiscal year ending March 31, 2014 are sum of the results of the nine months ended December 31, 2013 and the forecasts for the three months ending March 31, 2014. The consolidated forecasts for the fiscal year ending March 31, 2014 are calculated at the rate of 99 yen per USD and 132 yen per Euro.
2.Forecasts for cash dividends for the fiscal year ending March 31, 2014
For the forecasts of cash dividends for the fiscal year ending March 31, 2014, the Group expects to record a consolidated net loss in the fiscal year ending March 31, 2014, and expects that the Group will not be able to recover from its cumulative loss due to its heavy cumulative loss in the previous fiscal year ended March 31, 2013. Therefore the Group intends to forgo year-end dividend payments but will work toward improved results that will allow dividends to be reinstated at the earliest possible date.
Refer to Renesas Electronics' press release "Renesas Electronics Reports Financial Results for the Third Quarter Ended December 31, 2013" issued on February 6, 2014 for more details.
Renesas Electronics Europe
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 approximately 20 countries worldwide. More information can be found at www.renesas.com.