Renesas Electronics Announces Consolidated Forecasts and Forecasts of Cash Dividends
The figures of the consolidated forecasts for the six months ending June 30, 2017 are sum of the results of the three months ended March 31, 2017 and the forecasts of the three months ending June 30, 2017.
The consolidated forecasts for the six months ending June 30, 2017 are calculated at the rate of 111 yen per USD and 118 yen per Euro.
For the year ending December 31, 2017, while the Group expects to post net income (net income attributable to shareholders of parent company) for the six months ending June 30, 2017, the Group regrettably will forego interim dividend payment for this period.
The Group will divert its retained earnings for strategic investment opportunities that will enable the Group to respond to rapid environmental changes to thrive in the global marketplace, and will aim to increase shareholder profit by improving corporate value. Based on a long-term standpoint, the Group aims to realize stable and sustained growth in profits to allow dividends to be reinstated.
For the year ending December 31, 2017, the plan for year-end dividend payments remain undecided, and the Group will immediately announce it when the decisions are made.
Refer to Renesas Electronics' press release “Renesas Electronics Reports Financial Results for the First Quarter Ended March 31, 2017” issued on May 12, 2017 for more details.
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics 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. Amongst 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.
In addition, 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 second quarter of the fiscal year ending December 31, 2017 (January 1, 2017 to June 30, 2017) and the second quarter of the previous fiscal year (April 1, 2016 to September 30, 2016) cover different periods.
Renesas Electronics Europe
Renesas 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 A&P 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.
Renesas was established in 2010 and is headquartered in Japan. With over 800 hardware and software alliance partners worldwide, it has the industry's largest local support network. Renesas Electronics' European structure is comprised of two business groups - automotive and industrial - as well as the global ADAS solution group and the engineering group.