Renesas Electronics (TYO:6723) reported a 67% decline in profit attributable to owners of the parent to 26.0 billion yen for the first quarter ended March 31, from 79.9 billion yen a year ago, amid a softened market condition.
The company's earnings per share fell to 14.30 yen from 44.28 yen a year ago, according to a Thursday bourse filing.
Net sales declined 12% to 308.8 billion yen from 351.8 billion yen a year earlier, driven by weaker demand in both its automotive and industrial, infrastructure and IoT segments.
For the six months ending June 30, 2025, the company forecasts non-GAAP revenue in a range of 603.3 to 618.3 billion yen, down 13.0% to 15.1% year on year.
The company did not declare any dividend for the current year.
Renesas Electronics' gained nearly 3% at market close.
Price (JPY): $1670.00, Change: $+44, Percent Change: +2.67%
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