Renesas Electronics Announces Consolidated Forecasts for the First Quarter Ending March 31, 2019
As the Japanese GAAP was used to calculate the results, comparisons for the three months ended March 31, 2018 are not provided.
Renesas Electronics Corporation (“the Group”, TSE: 6723), a premier
supplier of advanced semiconductor solutions, today announced the
consolidated financial forecasts for the three months ending March 31,
2019.
The Group reports its consolidated forecasts on a quarterly basis
(cumulative quarters) because of the difficulty of forecasting full-year
results with high accuracy due to the short-term volatility of the
semiconductor market.
To increase the international comparability of financial information in
the capital market as the Group expands its business globally, the Group
has decided at the Meeting of the Board of Directors held on November
28, 2018 that it will voluntarily adopt the International Financial
Reporting Standards (“IFRS”) to its consolidated financial statements
starting from the annual securities report for the fiscal year ending
December 31, 2018.
Further, starting from the consolidated forecasts for the three months
ending March 31, 2019, the Group will present its financial forecasts as
a range. Additionally, in order to provide useful information that will
help to better understand the Group’s constant business results, figures
such as sales, semiconductor sales and gross margin will be presented in
the non-GAAP format, which excludes or adjusts the non-recurring items
related to acquisitions and other adjustments removed as non-recurring
expenses or income. It should be noted that the gross margin and
operating margin forecasts are given assuming the midpoint in the net
sales forecast.
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1. Consolidated forecasts for the three months ending |
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(January 1, 2019 to March 31, 2019) |
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Non-GAAP
Net Sales |
Non-GAAP
Semiconductor Sales |
Non-GAAP
Gross Margin |
Non-GAAP
Operating Margin |
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|
Forecasts as of
February 8, 2019 |
(Million yen)
149,500 – 157,500 |
(Million yen)
146,000 |
(%)
39.0 |
(%)
4.5 |
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| (*1) |
The consolidated forecasts for the three months ending March 31, 2019, are calculated based on IFRS, on the decision that the Group will voluntarily adopt IFRS as of the annual securities report for the fiscal year ended December 31, 2018. As the Japanese GAAP was used to calculate the results, comparisons for the three months ended March 31, 2018 are not provided. |
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| (*2) |
Non-GAAP figures are calculated by adjusting or removing
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The consolidated forecasts for the first quarter ending March 31, 2019
are calculated at the rate of 109 yen per USD and 124 yen per Euro.
Refer to Renesas Electronics’ press release “Renesas Electronics
Reports Financial Results for the Year Ended December 31, 2018”
issued on February 8, 2019 for more details.
The statements with respect to the financial outlook of the Group are
forward-looking statements involving risks and uncertainties. The
Company cautions you in advance that actual results may vary materially
from such forward-looking statements due to several important factors.
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, home electronics, office automation, and information
communication technology applications that help shape a limitless
future. Learn more at renesas.com.
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