Renesas Electronics Results 12/05/2017

By Jasmine Kang Sodha
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Renesas announced its FY17 Q1 result with net sales of ¥177.6 billion ($1.56 billion) and net profit of ¥23.6 billion ($207 million), resulting in a net profit margin of 13.0%. The net sales has increased by 5.9% on a yearly basis while the net profit had almost doubled from ¥12.4 billion ($109 million) in FY16 Q1.

The company’s sales have grown despite the Yen appreciation, primarily due to the result of Renesas’ standalone growth and the addition of Intersil sales following the close of the acquisition. The company expects the strong demand from the automotive and industrial sectors to continue.