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© jakub krechowicz dreamstime.com Business | June 09, 2016

The Kumamoto Earthquakes became pricey for Renesas

Due to impacts of the Kumamoto Earthquake that occurred after April 14, 2016, Renesas has had some difficulties to disclose the forecast of consolidated results for the company's first quarter 2016.
The company was suppose to have announced its forecast for the three months ending June 30, 2016, however, at the time Renesas was disclosing its financial results for the year ended March 31, 2016. For that reason, Renesas decided to postpone the announcement of the forecast.

Renesas is now disclosing the consolidated financial forecasts and recording of special loss for the three months ending June 30, 2016.

(April 1, 2016 to June 30, 2016) In millions of yen
Net SalesOperating IncomeOrdinary Income
Forecasts as of June 7, 2016145'00010'0008'000
Reference: Results for the three months ended June 30, 2015179'30232'36333'367


Renesas Semiconductor Manufacturing Co., Ltd.’s Kawashiri Factory and some subcontractor companies suffered damages to their facilities during the 2016 Kumamoto Earthquake. The company expects an opportunity loss of JPY 14.0 billion for its net sales and JPY 8.0 billion loss for its operating income due to suspending production. The Group also expects to record a loss of JPY 8.0 billion, caused by the temporary shutdown and lower operations, the repair cost of fixed assets, including buildings and manufacturing equipment, and the loss on disposal of inventories, as special loss.
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