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Notice Regarding Voluntary Adoption of International Financial Reporting Standards

November 28, 2018

TOKYO--(BUSINESS WIRE)--Nov 28, 2018--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.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005932/en/

CONTACT: Media Contacts

Kyoko Okamoto

Renesas Electronics Corporation

+81 3-6773-3001

pr@renesas.comInvestor Contacts

Hirokazu Kato

Renesas Electronics Corporation

+81 3-6773-3002

ir@renesas.com

KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA CALIFORNIA JAPAN

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS ELECTRONIC DESIGN AUTOMATION HARDWARE SEMICONDUCTOR

SOURCE: Renesas Electronics Corporation

Copyright Business Wire 2018.

PUB: 11/28/2018 01:00 AM/DISC: 11/28/2018 01:01 AM

http://www.businesswire.com/news/home/20181127005932/en

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