Renesas Reports Financial Results for the Third Quarter 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

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

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

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

Revenue

Non-GAAP
Gross Margin

Non-GAAP
Operating Margin

Million yen

%

%

%pts

%

%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.

4.1

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.

2.

3.

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

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.