Notice Concerning the Difference between Financial Results for the Year Ended December 31, 2022 and Results in the Previous Period

TOKYO--(BUSINESS WIRE)--#earnings--Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial results for the year ended December 31, 2022 (January 1, 2022 to December 31, 2022), which it disclosed on February 9, 2023, and the financial results in the previous period (January 1, 2021 to December 31, 2021).

The forecasts for the above period are not based on IFRS, therefore the differences are shown as the actual figures.

1. Difference between consolidated financial results for the year ended December 31, 2022 and the year ended December 31, 2021
					In millions of yen
	Revenue	Operating Profit	Profit before tax	Profit	Profit attributable to owners of parent
Year ended December 31, 2021	993,908	173,827	142,718	119,687	119,536
Year ended December 31, 2022	1,500,853	424,170	362,299	256,787	256,632
Difference	506,945	250,343	219,581	137,100	137,096
Difference (%)	51.0%	144.0%	153.9%	114.5%	114.7%

2. Background to the difference

Consolidated revenue for the year ended December 31, 2022 was 1,500.9 billion yen, a 51.0% increase year on year. This was mainly due to a sales increase effect from the consolidation of Dialog Semiconductor Plc acquired on August 31, 2021 and yen depreciation, in addition to an increase in revenue in the Automotive Business supported by continued growth in semiconductor contents per vehicle as well as an increase in revenue in the Industrial/Infrastructure/IoT Business from demand expansion in the infrastructure market such as datacenters.

The gross profit increased from improvements in product mix in addition to growth in revenue. In addition, the operating profit, profit before tax, profit, and profit attributable to owners of parent for the year ended December 31, 2022 significantly exceeded the results from the previous period, supported by the company’s efforts to streamline business operations.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.

Forward-Looking Statements

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

Contacts

Media Contacts:
Kyoko Okamoto
Renesas Electronics Corporation
+81 3-6773-3001
pr@renesas.com

Investor Contacts:
Yuuki Oka
Renesas Electronics Corporation
+81 3-6773-3002
ir@renesas.com