Renesas net profit drops 25.5% y/y to USD84 million in FY 2018
Company expects y/y decline in semiconductor sales in Q1 FY 2019
On non-GAAP basis, Renesas’s net profit declined by 25.5% year-over-year (y/y) to JPY92.3 billion (USD84 million) in the financial year ended 31 December 2018, the company said in a press release on 8 February. The company also recorded 17.5% y/y decline in operating income to JPY110.6 billion. Renesas reported lower earnings in the financial year as net sales dropped by 3.1% y/y to JPY757.4 billion. Semiconductor sales declined 3.3% y/y to JPY740.5 billion and accounted for 97.8% of Renesas’s total sales in 2018.