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Notice Regarding Voluntary Adoption of International Financial Reporting Standards
[November 28, 2018]

Notice Regarding Voluntary Adoption of International Financial Reporting Standards


Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, has been considering voluntary adoption of International Financial Reporting Standards ("IFRS") and the company today announced that it has resolved at the Meeting of the Board of Directors held on November 28, 2018 to voluntarily adopt IFRS to its consolidated financial statements in lieu of the current accounting principles generally accepted in Japan ("Japanese GAAP"). Renesas will disclose its consolidated financial statements in accordance with IFRS starting from the annual securities report for the fiscal year ending December 31, 2018.

Renesas will apply Japanese GAAP to the consolidated financial statements in the earnings report for the fiscal year ending December 31, 2018 as well as to the consolidated financial statements under the Companies Act.

There is no change into the disclosure schedule announced in the press release "Notice Regarding Change in Schedule of Voluntary Adoption of International Financial Reporting Standards" issued on November 29, 2017.





 

Disclosure Schedule

           
Month of    

 

   

 

Disclosure

Disclosure Materials

GAAP

(Planned)            

February 2019

Earnings report for the fiscal year ending December 31, 2018

Japanese
GAAP

     

Consolidated financial statement under the Companies Act

   

Japanese
GAAP

March 2019

   

Annual securities report for the fiscal year ending December 31, 2018

   

IFRS

May 2019

Earnings report for the first quarter ending March 31, 2019

IFRS

     

Quarterly report for the first quarter ending March 31, 2019

    IFRS

(Note) The earnings report adopting IFRS is to be disclosed after the submission of the annual securities report for the fiscal year ending December 31, 2018.
 

The statements with respect to the financial outlook of the Group are forward-looking statements involving risks and uncertainties. The Company cautions you in advance that actual results may vary materially from such forward-looking statements due to several important factors.

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-securely and safely. A global leader in microcontrollers, analog, power, SoC products and integrated platforms, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics, Office Automation and Information Communication Technology applications to help shape a limitless future. Learn more at renesas.com.


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