Renesas says its expects revenues for the financial year to the end of March 31st to be $11.6bn down $1.1bn on its previous forecast. Semiconductor sales are expected to be $10.2bn which is also $1.1bn down on previous forecasts.
Renesas expects its operating loss to be $630m, its ordinary loss to be $707m and its net loss to be $747m.
Renesas blamed a stagnant global economy the impact of Thailand's flood and yen appreciation.
Moreover, the company anticipates reduced semiconductor sales in Q1 in the areas of, MCUs, analogue and power devices and SoCs.