TOKYO--(BUSINESS WIRE)--Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial forecasts, which it disclosed on May 11, 2018, and the actual results, which it disclosed today, for the six months ended June 30, 2018 (the period from January 1, 2018 to June 30, 2018).
1. Difference between consolidated forecasts and actual results for the six months ended June 30, 2018
(January 1, 2018 to June 30, 2018)
In millions of yen
|Net Sales||Income||Income||Shareholders||per Share|
(As of May 11, 2018)
Results for the six months ended June 30, 2017
2. Background to the difference
Renesas announced the following financial results for the six months ended June 30, 2018: net sales were 389.4 billion yen, 7.4 billion yen up from the previous forecast (announced on May 11, 2018); semiconductor sales were 381.1 billion yen, 6.4 billion yen up from the previous forecast. This was mainly due to better-than-expected automotive sales compared to the forecast and the continuing depreciation of the yen against the US dollar and the Euro. Both operating and ordinary income improved from the previous forecasts mainly owing to better-than-expected sales and cost-containment effects. Net income attributable to shareholders of parent company was also better than the company's estimates, mainly from the reversal of provision for contingent loss related to the lawsuit in which the Company’s U.S. subsidiary has been named as a defendant, in addition to an increase in ordinary income.
Details that explain Renesas' announcement of financial results for the six months ended June 30, 2018 are disclosed in the Renesas press release: ‘‘Renesas Electronics Reports Financial Results for the Second Quarter Ended June 30, 2018’’ issued on July 31, 2018.
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. A global leader in microcontrollers, analog, power and SoC products and integrated platforms, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics, Office Automation and Information Communication Technology applications to help shape a limitless future. Learn more at renesas.com.
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