NEC Electronics Reports Financial Results for the Second Quarter Ended September 30, 2009

Wednesday, October 28th, 2009
NEC Electronics logo

KAWASAKI, Japan — NEC Electronics Corporation (TSE: 6723) today announced consolidated financial results for the three months and six months ended September 30, 2009.

Three Months Ended September 30, 2009

Consolidated net sales for the three months ended September 30, 2009 were 118.5 billion yen, down 48.8 billion yen, or 29.2%, year on year. Sales of products in all areas decreased. Notably, computing and peripherals decreased by more than 40 percent year on year.

Consumer Electronics

  • Products: Semiconductors for consumer electronics and game consoles.
  • Net sales: 22.6 billion yen (Down 9.3 billion yen, 29.1% year on year)

Although sales of the company’s “EMMA” series especially for blu-ray disc devices increased, semiconductors for game consoles and home appliances declined year on year.

Semiconductor Sales – Consumer electronics (Billion Yen):

                 FY2009      FY2010
-----------------------  ----------
  Q1    Q2    Q3 |   Q4    Q1    Q2
----  ----  ---- | ----  ----  ----
32.1  31.9  31.9 | 23.4  22.8  22.6

NEC Electronics and Renesas Technology business integration

Following NEC Electronics’ September 16, 2009 announcement, the integrated company which will be established after the business integration of NEC Electronics and Renesas Technology was planning to issue shares of its common stock to NEC, Hitachi, and Mitsubishi Electric in exchange for an aggregate of approximately 122.0 billion yen (the “Post-merger Capital Injection”).

However, based on the business results of NEC Electronics for the first half of the fiscal year ending March 31, 2010 announced within this press release, the amount of post-merger capital injection has been increased by approximately 12.8 billion yen.

The figures of number of shares issued, number of allotted shares, and total proceeds will be announced on November 9, 2009.

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