Renesas Electronics Q3 FY2026 Earnings Presentation

Cover: FY2026 (Year Ending December 2026) Q3 Presentation

सामग्री

Title slide reading '2026年12月期 第3四半期 プレゼンテーション' (Fiscal Year Ending December 2026, Third Quarter Presentation), presented by Renesas Electronics Corporation (ルネサス エレクトロニクス株式会社) and dated October 29, 2026.

लेआउट संरचना

Full-bleed photographic background with a solid navy title block at upper left and a grey sub-panel for company name and date; copyright line and Renesas logo in the footer.

मुख्य दृश्य तत्व

• •Close-up photo of a glowing chip on a blue circuit board
• •Navy rectangle with large white Japanese title text
• •Grey company/date panel
• •Renesas wordmark bottom right

Section Divider: 2026 Q3 Earnings Materials (2026年 第3四半期決算説明資料)

सामग्री

Introduces the deck and explains that management discloses Non-GAAP figures, derived from IFRS figures by removing non-recurring items and certain other adjustments under fixed rules, as useful for understanding the group's ongoing performance; it also notes that Renesas discloses a forecast for the next quarter instead of a full-year forecast.

लेआउट संरचना

Grey full-width panel with a navy title bar overlapping the left edge and two short white text paragraphs beneath.

मुख्य दृश्य तत्व

• •Navy title band
• •Grey background panel
• •White body text

Notes (注意事項)

सामग्री

Four accounting notes: Renesas has voluntarily applied IFRS since its FY2018 (December 2018) annual securities report; Non-GAAP figures exclude acquisition-related intangible amortization and other PPA (purchase price allocation) effects, stock-based compensation and one-off gains/losses, and also exclude results of the Timing business from February 2026 until its transfer was completed on July 1, 2026, together with the gain on that transfer; since Q1 FY2019 forecasts are given as a range with gross and operating margins based on the midpoint of the revenue range; segment revenue is reported by actual end application since Q1 FY2024, and from Q2 FY2026 the Timing business was moved from the Automotive and Industrial/Infrastructure/IoT segments to 'Other', with Q1 FY2025 to Q1 FY2026 (January 2026) restated.

लेआउट संरचना

Text-only slide with a bold navy heading underlined by a grey rule and four square-bulleted paragraphs, each led by a bold label.

मुख्य दृश्य तत्व

• •Navy heading with grey underline
• •Square bullet points
• •Bold lead-in labels (IFRS適用, Non-GAAP業績値, 業績予想の開示方法, 報告セグメントの集計方法)

FY2026 Q3 Results Summary (Non-GAAP)

सामग्री

Q3 (July–September) Non-GAAP revenue was 4,352 億円 versus a 4,300 (±75) forecast: +30.2% YoY, +7.4% QoQ and +1.2% versus the July 31 forecast (excluding FX and one-offs: +22.3% YoY, +8.6% QoQ). Gross margin 59.4% (+1.8pts YoY, +1.3pts QoQ, +1.9pts vs forecast); operating profit 1,505 億円 at a 34.6% margin (+473 YoY, +178 QoQ, +2.1pts vs forecast of 32.5%); EBITDA 1,734 億円; profit attributable to owners of the parent 1,250 億円. Nine-month revenue 12,128 億円 (+25.3% YoY), gross margin 58.9%, operating profit 4,087 億円 (33.7%), EBITDA 4,739 億円, net profit 3,412 億円. FX: ¥161/US$ and ¥185/euro in Q3. A Timing-adjusted reference block shows prior-year Q3 revenue of 3,267 億円 and adjusted YoY growth of +33.2%.

लेआउट संरचना

Dense financial table with navy column headers grouped by fiscal year (FY2025, FY2026) and a separate bright-blue 'Timing business adjusted' column group on the right; actual Q3 and nine-month columns shaded light blue; footnotes along the bottom.

मुख्य दृश्य तत्व

• •Two-tier navy table header
• •Light-blue highlighted actual columns
• •Separate bright-blue reference block
• •Bold YoY/QoQ deltas
• •Footnote row

FY2026 Q3 Revenue, Gross Margin and Operating Margin

सामग्री

Scorecard of company totals versus forecast and prior quarter: revenue 4,352 億円 (+1.2% vs forecast, +7.4% QoQ); gross margin 59.4% (+1.9pts vs forecast, driven by a weaker yen, better mix and lower manufacturing costs; +1.3pts QoQ from the weaker yen, mix and higher utilization); operating margin 34.6% (+2.1pts vs forecast on higher gross profit; +1.8pts QoQ, with higher gross profit partly offset by higher operating expenses). By segment, Automotive revenue was 1,895 億円 (QoQ +1.3%) with a 55.3% gross margin and 32.9% operating margin, and Industrial/Infrastructure/IoT revenue was 2,438 億円 (QoQ +12.7%) with a 62.8% gross margin and 36.2% operating margin.

लेआउट संरचना

Three-row grid (revenue, gross margin, operating margin) with a shaded company-total column, green plus signs for forecast and QoQ columns with triangle-bullet drivers, and two segment columns on the right with colour-coded headers.

मुख्य दृश्य तत्व

• •Large green plus signs
• •Green up-triangle and red down-triangle driver bullets
• •Blue Automotive and purple Industrial/Infrastructure/IoT headers
• •Light-blue shaded totals column

Quarterly Revenue Trend (Non-GAAP)

सामग्री

Stacked bars for eight quarters from Q4 2024 to Q3 2026 show total revenue rising from 2,926 to 3,088, 3,246, 3,342, 3,509, 3,723, 4,053 and 4,352 億円. Automotive grew from 1,488 to 1,895 億円 and Industrial/Infrastructure/IoT (split into Industrial, Infrastructure and IoT shades) from 1,408 to 2,438 億円. Side panel: total revenue YoY +30.2% (+22.3% excluding FX and one-offs), QoQ +7.4% (+8.6%); Automotive YoY +19.3% (+13.3%), QoQ +1.3% (+3.2%); Industrial/Infrastructure/IoT YoY +46.4% (+36.5%), QoQ +12.7% (+13.6%). Footnotes note the Timing business reclassification and its exclusion from Non-GAAP revenue from February 2026.

लेआउट संरचना

Wide stacked column chart with legend across the top, a dashed vertical divider after 1Q25, and a right-hand text panel with vertical colour rules per segment.

मुख्य दृश्य तत्व

• •Stacked columns in blue and purple shades
• •Dotted outlines for the 'Other' slice
• •Bold total labels above each bar
• •Right-side YoY/QoQ panel

Inventory Status (在庫状況)

सामग्री

Left: company inventory (accounting basis, including the Timing business) shown as DOI (days of inventory) line and stacked finished goods / work-in-process / raw materials bars from Q4 2024 to Q3 2026; Q3 result was an increase in DOI, as work-in-process rose with die-bank expansion and production growth in line with added capacity and finished goods were built to meet demand, and the Q4 outlook is a further DOI increase to prepare for demand from Q1 onward. Right: sales-channel inventory (management basis) as WOI (weeks of inventory) and long-held versus current inventory bars; Q3 WOI increased — automotive inventory was built but sell-through beat expectations, and Industrial/Infrastructure/IoT WOI was flat on strong sell-through; Q4 outlook is a WOI increase as automotive restocks and Industrial/Infrastructure/IoT continues building.

लेआउट संरचना

Two mirrored halves, each with a line chart on top, a stacked bar chart below and a commentary column with '3Q results' and '4Q outlook' headings; dense footnotes with DOI/WOI definitions at the bottom.

मुख्य दृश्य तत्व

• •DOI and WOI line charts with dashed reference lines
• •Stacked inventory columns in navy, light blue and grey
• •Bold section headings with result/outlook verdicts
• •Definition footnotes

Utilization Rate and Capital Expenditure

सामग्री

Left: front-end fab utilization (wafer-input basis, excluding former Intersil and Transphorm fabs) for total, 6-inch, 8-inch and 12-inch lines, with the total rising from roughly the 30% range in Q4 2024 to around 60% in Q3 2026 (values read from the chart; exact figures not labeled). Right: capex bars of 173, 127, 84, 178, 188, 940, 226 and 1,112 億円 from Q4 2024 to Q3 2026, with a capex-to-revenue line that spikes above 30% in Q1 2026 and Q3 2026. Footnotes explain that capex is on an investment-decision basis at budget FX rates and differs from cash-flow figures.

लेआउट संरचना

Two side-by-side chart panels under centred navy subheadings; multi-line chart left, bar-plus-line combo chart with dual axes right; footnotes below.

मुख्य दृश्य तत्व

• •Four-series utilization line chart
• •Navy capex bars with value labels
• •Blue dotted ratio line on a secondary axis
• •Footnotes on basis of measurement

FY2026 Q4 and Full-Year Forecast (Non-GAAP)

सामग्री

Q4 (October–December) revenue forecast midpoint is 4,540 億円 (±75), +29.4% YoY and +4.3% QoQ (+24.6% and +4.2% excluding FX and one-offs), with a 58.0% gross margin and a 32.0% operating margin at ¥157/US$ and ¥178/euro. Full-year FY2026 revenue forecast is 16,668 億円 (±75), +26.4% YoY (+19.7% ex FX/one-offs), gross margin 58.6% and operating margin 33.2%, versus FY2025 revenue of 13,185 億円. On a Timing-adjusted basis, FY2025 revenue was 12,875 億円 and the FY2026 forecast is 16,636 億円 (+29.2%). FX sensitivity for Q4: each ¥1 move changes revenue by 22 億円 and operating profit by 11 億円 for the US dollar, and by 2 and 1 億円 for the euro.

लेआउट संरचना

Wide forecast table with navy headers and a bright-blue Timing-adjusted block on the right; forecast columns shaded; a small FX-sensitivity table inset beneath; footnotes below.

मुख्य दृश्य तत्व

• •Highlighted forecast midpoint column
• •±75 range annotations
• •FX sensitivity mini-table
• •Bright-blue adjusted comparison block

Appendix Divider

सामग्री

Section break stating that the appendix contains segment information and figures on a GAAP (IFRS) financial-reporting basis as supplementary information.

लेआउट संरचना

Grey full-width panel with a navy 'APPENDIX' title band and one white sentence beneath, matching page 2.

मुख्य दृश्य तत्व

• •Navy APPENDIX band
• •Grey background panel

Key Financial Trends (Non-GAAP)

सामग्री

Quarterly table for FY2025 Q1–Q4 and FY2026 Q1–Q3. FY2025 revenue was 13,185 億円 with a 57.6% gross margin and operating profit of 3,869 億円 (29.3%). FY2026 Q3: revenue 4,352, gross margin 59.4%, operating expenses 1,078 (24.8% of revenue) including R&D 616 (14.2%) and SG&A/other 462 (10.6%), operating profit 1,505 (34.6%), EBITDA 1,734 and net profit 1,250 億円. Nine-month totals: revenue 12,128, operating expenses 3,052 (25.2%), R&D 1,742 (14.4%), operating profit 4,087 (33.7%), EBITDA 4,739 and net profit 3,412 億円.

लेआउट संरचना

Full-width quarterly table with navy fiscal-year headers, indented sub-rows for R&D and SG&A, and shaded Q3 and nine-month columns.

मुख्य दृश्य तत्व

• •Navy grouped column headers
• •Indented expense sub-rows
• •Light-blue highlighted current-quarter column

Revenue and Gross Profit by Segment (Non-GAAP)

सामग्री

Segment table by quarter. Q3 FY2026 revenue: Automotive 1,895 億円 (+19.3% YoY), Industrial/Infrastructure/IoT 2,438 億円 (+46.4% YoY), Other 19 億円 (-78.7% YoY after the Timing business exit). Nine-month revenue: Automotive 5,482 (+15.4%), Industrial/Infrastructure/IoT 6,560 (+41.1%), Other 293, adjustments -207. Q3 gross profit was 2,583 億円 (59.4%): Automotive 1,048 (55.3%), Industrial/Infrastructure/IoT 1,532 (62.8%) and Other 3 (14.7%). Nine-month gross profit 7,139 億円 (58.9%).

लेआउट संरचना

Two stacked table blocks (revenue, gross profit) sharing a navy header, with indented segment rows and shaded Q3 and nine-month columns; three footnotes on segment reclassification and adjustments.

मुख्य दृश्य तत्व

• •Segment sub-rows with superscript footnote markers
• •Margin percentages in parentheses
• •Highlighted current-period columns

Operating Profit and EBITDA by Segment (Non-GAAP)

सामग्री

Q3 FY2026 operating profit of 1,505 億円 (34.6%) split into Automotive 623 (32.9%, -2.4pts YoY), Industrial/Infrastructure/IoT 883 (36.2%, +8.8pts YoY) and Other -0 (-1.2%). Nine-month operating profit 4,087 (33.7%): Automotive 1,883 (34.4%), Industrial/Infrastructure/IoT 2,201 (33.6%), Other 144, adjustments -142. Q3 EBITDA 1,734 億円: Automotive 747, Industrial/Infrastructure/IoT 987; nine-month EBITDA 4,739 億円.

लेआउट संरचना

Same quarterly table grid as page 12 with operating profit and EBITDA blocks and indented segment rows.

मुख्य दृश्य तत्व

• •Navy headers
• •Indented segment rows
• •Shaded Q3 and nine-month columns
• •Four footnotes

Balance Sheet (GAAP)

सामग्री

Quarter-end balance sheet from March 2025 to September 2026. At end-September 2026: total assets 47,023 億円, cash and cash equivalents 6,372, inventories 2,319, goodwill 19,535, intangible assets 5,100, total liabilities 17,973, interest-bearing debt 11,475, total equity 29,050 億円. Gross D/E ratio 0.40 and net D/E 0.18; equity attributable to owners ratio 61.7%; gross leverage 1.9x and net leverage 0.8x EBITDA; average shares outstanding 1,829 million. Footnotes note that Timing-business goodwill and intangibles were reclassified to assets held for sale at end of Q2 FY2026.

लेआउट संरचना

Seven-column balance-sheet table with navy date headers, the latest column shaded, ratio rows below the main items and detailed definitional footnotes.

मुख्य दृश्य तत्व

• •Navy date headers
• •Highlighted September 2026 column
• •Ratio rows with superscript definitions

Reconciliation Between GAAP and Non-GAAP

सामग्री

Reconciles gross profit, operating profit, net profit and EBITDA for Q3 FY2025, full-year FY2025 and Q3 FY2026. Q3 FY2026 Non-GAAP operating profit 1,505 億円 reconciles to GAAP 5,653 億円 (129.7% of revenue): recurring items -316 (PPA effects of former Intersil -32, IDT -35, Dialog -82, Altium -60, other -10; stock compensation -97) and non-recurring items +4,464, chiefly the 4,503 億円 gain on transfer of the Timing business. Net profit reconciles from 1,250 to 3,722 億円 including a -449 億円 Wolfspeed-related one-time item; EBITDA from 1,734 to 6,102 億円. FY2025 GAAP net profit was -518 億円 after a -2,376 Wolfspeed-related charge.

लेआउट संरचना

Wide reconciliation matrix with three period groups of four metrics each, indented adjustment rows, and Non-GAAP and GAAP totals in bold at top and bottom.

मुख्य दृश्य तत्व

• •Three-level navy header
• •Indented PPA and one-off rows
• •Bold Non-GAAP and GAAP total rows

FY2026 Q3 Consolidated Operating Profit: Non-GAAP to GAAP Bridge

सामग्री

Waterfall chart from Non-GAAP operating profit of 1,505 億円 through small negative steps for former Intersil, IDT, Dialog and Altium PPA effects, other PPA, stock-compensation-related costs and other non-recurring items (labeled as recurring and non-recurring groups), then a large positive step for the gain on the Timing business transfer to reach GAAP operating profit of 5,653 億円.

लेआउट संरचना

Horizontal waterfall with a navy starting bar, thin floating step bars, a pale-blue jump bar with a scale-break symbol, and a mid-blue ending bar; arrows beneath group the steps.

मुख्य दृश्य तत्व

• •Waterfall bars
• •Wavy axis-break marks
• •Double-headed arrows for recurring / non-recurring groups
• •Start and end value labels

FY2026 Q3 Results Summary (GAAP)

सामग्री

IFRS results: Q3 revenue 4,359 億円 (+30.0% YoY, +4.2% QoQ), gross margin 59.0%, operating profit 5,653 億円 (129.7%) including a 4,503 億円 gain on the Timing business transfer, EBITDA 6,102 億円 and profit attributable to owners 3,722 億円. Nine-month revenue 12,347 億円 (+27.3%), operating profit 7,580 (61.4%), EBITDA 8,970 and net profit 5,895 億円 versus a nine-month loss of -691 億円 a year earlier. Footnotes list Wolfspeed-related valuation losses and gains by quarter (e.g. a 2,350 億円 loss in Q2 2025 and a 449 億円 loss in Q3 2026).

लेआउट संरचना

Results table matching page 4's format with navy headers, shaded Q3 and nine-month columns and three footnotes.

मुख्य दृश्य तत्व

• •Navy grouped headers
• •Highlighted actual columns
• •Superscript footnote markers on operating and net profit

Renesas at a Glance

सामग्री

2025 highlights (Non-GAAP, at ¥150/US$ and ¥167/euro): revenue 13,185 億円, gross margin 57.6%, operating margin 29.3%, EBITDA margin 35.2%, free cash flow margin 25.1% and EPS ¥182.27. Revenue composition: Automotive about 50% (vehicle control 60%, vehicle infotainment 40%) and Industrial/Infrastructure/IoT about 50% (Industrial 30%, Infrastructure 30%, IoT 40%); by product MCU 40%, SoC 15%, analog 20%, power 20%, other 5%. A growth chart tracks revenue and margins from 2020 to 2025, and a '2035 Aspiration — 6x market cap' graphic breaks the goal into 2x scale from executing the mid-term plan and 3x valuation from closing the valuation gap and expanding the multiple.

लेआउट संरचना

Four-quadrant dashboard: KPI tile grid top left, segment composition blocks bottom left, bar-and-line growth chart top right, and a 2x/3x matrix diagram with lettered green and navy circles bottom right.

मुख्य दृश्य तत्व

• •Navy KPI numbers on grey tiles
• •Blue and purple segment composition blocks
• •Dual-axis bar and line chart
• •Scale-versus-valuation matrix with circular badges

Closing: Renesas.com and Forward-Looking Statements

सामग्री

Closing slide with the Renesas.com address and a cautionary statement on forward-looking information, noting that results may differ materially due to economic conditions in Japan, North America, Asia and Europe, demand trends and price pressure, the company's ability to keep supplying accepted products and services, and exchange rates, particularly the US dollar to yen.

लेआउट संरचना

Grey full-width panel with a short white rule, the website in bold white, and a block of small white disclaimer text.

मुख्य दृश्य तत्व

• •Grey panel
• •White accent rule
• •Website URL
• •Disclaimer paragraph