Renesas Electronics' performance in fiscal 2024 declined, while its automotive business maintained steady growth

Renesas Electronics released its financial report for fiscal year 2024, showing full-year revenue of 1.35 trillion yen, down 8.2% year-on-year. Operating profit was 397.9 billion yen, down 40.1% year-on-year; net profit was 360.4 billion yen, down 26.3% year-on-year. Despite the overall decline in performance, the automotive business maintained a steady growth momentum, with full-year revenue of 702.8 billion yen, up 6.4% year-on-year. This is due to the recovery of the global automotive industry, especially the trend of automotive intelligence and electrification.