Renesas Reports Financial Results for the Third Quarter Ended September 30, 2021

By: Renesas Electronics Corporation via Business Wire

October 28, 2021 at 02:05 AM EDT

Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the nine months ended September 30, 2021.

Summary of Consolidated Financial Results (Note 1)
	Three months ended September 30, 2021		Nine months ended September 30, 2021
	Billion Yen	% of Revenue	Billion Yen	% of Revenue
Revenue	258.4	100.0	680.0	100.0
Operating profit	53.8	20.8	119.5	17.6
Profit attributable to owners of parent	37.8	14.6	75.5	11.1
Capital expenditures (Note 2)	21.2		71.8
Depreciation and others	34.4		100.1
R&D expenses (Note 3)	39.9		107.1
	Yen		Yen
Exchange rate (USD)	110		108
Exchange rate (EUR)	131		129

		As of September 30, 2021
		Billion Yen
Total assets		2,328.0
Total equity		1,047.1
Equity attributable to owners of parent		1,043.8
Equity ratio attributable to owners of parent (%)		44.8
Interest-bearing liabilities		897.6

Note 1:		All figures are rounded to the nearest 100 million yen.
Note 2:		Capital expenditures refer to the amount of capital for property, plant and equipment (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the three months and nine months ended September 30, 2021. However, the investments from the former Integrated Device Technology, Inc. and Dialog Semiconductors Plc (hereinafter Dialog) are listed as an input basis.
Note 3:		R&D expenses includes capitalized R&D expenses recorded as intangible assets.

RENESAS ELECTRONICS CORPORATION Consolidated Financial Results for the Third Quarter Ended September 30, 2021 English translation from the original Japanese-language document
October 28, 2021
Company name		: Renesas Electronics Corporation
Stock exchanges on which the shares are listed		: Tokyo Stock Exchange, First Section
Code number		: 6723
URL		: https://www.renesas.com
Representative		: Hidetoshi Shibata, President and CEO
Contact person		: Fujiko Yamaguchi, Vice President, CEO Office Tel. +81 (0)3-6773-3002
Filing date of Shihanki Hokokusho (scheduled)		: November 11, 2021

(Amounts are rounded to the nearest million yen)

1. Consolidated financial results for the nine months ended September 30, 2021

1.1 Consolidated financial results (% of change from corresponding period of the previous year)

	Revenue		Operating profit		Profit before tax		Profit		Profit attributable to owners of parent		Total comprehensive income
	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Million yen	%
Nine months ended September 30, 2021	679,986	29.7	119,485	149.9	100,781	116.3	75,685	96.6	75,457	96.1	183,386	---
Nine months ended September 30, 2020	524,093	(0.4)	47,818	---	46,592	---	38,488	---	38,471	---	(3,930)	---

	Basic earnings per share	Diluted earnings per share
	Yen	Yen
Nine months ended September 30, 2021	41.61	40.72
Nine months ended September 30, 2020	22.42	21.98

1.2 Consolidated financial position

	Total assets	Total equity	Equity attributable to owners	Ratio of equity attributable to owners
	Million yen	Million yen	Million yen	%
September 30, 2021	2,327,974	1,047,144	1,043,838	44.8
December 31, 2020	1,608,985	619,661	616,701	38.3

2. Cash dividends

	Cash dividends per share
	At the end of first quarter	At the end of second quarter	At the end of third quarter	At the end of year	Total
	Yen	Yen	Yen	Yen	Yen
Year ended December 31, 2020	---	0.00	---	0.00	0.00
Year ending December 31, 2021	---	0.00	---
Year ending December 31, 2021 (forecast)				0.00	0.00

Note:

Change in forecast of cash dividends since the most recently announced forecast: Yes

3. Forecast of consolidated results for the full year ending December 31, 2021

Revenue

Non-GAAP

Gross Margin

Non-GAAP

Operating Margin

Million yen

%pts

Full year ending December 31 2021

977,986

(±4,000)

36.7

(±0.6)

52.8

5.4

28.8

9.5

Note 1:		The Group reports its consolidated forecast for the full year as a range. The revenue forecast is provided assuming the midpoint and the range of the forecast are listed in brackets. The gross margin and the operating margin forecasts are provided assuming the midpoint in the revenue forecast. For details, please refer to Appendix 1.3. “Consolidated Forecasts” on page 6.
Note 2:		Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP figures following a certain set of rules. The Group believes non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results, and therefore forecasts are provided on a non-GAAP basis. However, the figure provided as revenue is based on IFRS and does not include non-GAAP adjustments.

4. Others

4.1		Changes in significant subsidiaries for the nine months ended September 30, 2021: No
		(Changes in specified subsidiaries resulting in changes in scope of consolidation)

4.2	Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors
	1.	Changes in accounting policies with revision of accounting standard: No
	2.	Changes in accounting policies except for 4.2.1: No
	3.	Changes in accounting estimates: No

4.3	Number of shares issued and outstanding (common stock)
	1.	Number of shares issued and outstanding (including treasury stock)
			As of September 30, 2021:	1,937,295,290 shares
			As of December 31, 2020:	1,731,898,990 shares

	2.	Number of treasury stock
			As of September 30, 2021:	2,581 shares
			As of December 31, 2020:	2,581 shares

	3.	Average number of shares issued and outstanding
			Nine months ended September 30, 2021:	1,813,309,523 shares
			Nine months ended September 30, 2020:	1,716,107,309 shares

(Note) Information regarding the implementation of audit procedures: These financial results are not subject to quarterly review procedures by the independent auditor.

Cautionary Statement

The Group will hold an earnings conference for institutional investors and analysts on October 28, 2021. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.

The statements with respect to the financial outlook of Renesas Electronics Corporation (hereinafter “the Company”) and its consolidated subsidiaries (hereinafter “the Group”) 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 changes in several important factors.

Forward-Looking Statements

The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics Corporation 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. Among 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.

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, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211027006258/en/

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Renesas Electronics Corporation

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ir@renesas.com

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Renesas Reports Financial Results for the Third Quarter Ended September 30, 2021

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