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Renesas Electronics Announces Consolidated Forecasts for the First Quarter Ending March 31, 2019

08 Feb 2019

TOKYO, Japan ― 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.

For full article, please access link via : https://www.renesas.com/sg/en/about/press-center/news/2019/news20190208b.html