Renesas Electronics Corporation announced the transfer price
1. Transfer price
28,140 million yen
2. Financial outlook
As announced in the press release “Notice Concerning the Recording of Special Income from Gain on Transfer of Business (Continuous Disclosure)” dated February 5, 2015, Renesas transferred all of Renesas’ shares in the former Renesas SP Drivers Inc. (“Renesas SP Drivers”), a consolidated subsidiary of Renesas. As a result, Renesas Group recorded a gain on transfer of business of approximately 19.8 billion yen, the difference between the expected transfer price and the equity price of the business transferred, as special income (gain on transfer of business) for the three months ended December 31, 2014. At the time of that announcement, it had been notified that the transfer price was subject to change due to the adjustment of transfer price according to the terms and conditions of the transfer agreement; today, with the transfer price now fixed, the gain on transfer of business is expected to be approximately 20.0 billion yen for the fiscal year ending March 31, 2015.
No material impact is anticipated on Renesas’ consolidated financial results for the fiscal year ending March 31, 2015 as a result of the adjusted transfer price following the fixed transfer price, therefore there is no change to the financial forecasts.
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. Amongst 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), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in approximately 20 countries worldwide.