0001193125-12-308042.txt : 201207200001193125-12-308042.hdr.sgml : 2012072020120720060955ACCESSION NUMBER:0001193125-12-308042CONFORMED SUBMISSION TYPE:6-KPUBLIC DOCUMENT COUNT:12CONFORMED PERIOD OF REPORT:20120719FILED AS OF DATE:20120720DATE AS OF CHANGE:20120720
FILER:
COMPANY DATA:COMPANY CONFORMED NAME:TAIWAN SEMICONDUCTOR MANUFACTURING CO LTDCENTRAL INDEX KEY:0001046179STANDARD INDUSTRIAL CLASSIFICATION:SEMICONDUCTORS & RELATED DEVICES [3674]IRS NUMBER:000000000FISCAL YEAR END:1231
FILING VALUES:FORM TYPE:6-KSEC ACT:1934 ActSEC FILE NUMBER:001-14700FILM NUMBER:12970974
BUSINESS ADDRESS:STREET 1:NO. 8, LI-HSIN ROAD 6STREET 2:SCIENCE-BASED INDUSTRIAL PARKCITY:HSINCHUSTATE:F5ZIP:00000BUSINESS PHONE:886-3-5636688
MAIL ADDRESS:STREET 1:NO. 8, LI-HSIN ROAD 6STREET 2:SCIENCE-BASED INDUSTRIAL PARKCITY:HSINCHUSTATE:F5ZIP:00000
6-K1d382388d6k.htmFORM 6-K
Form 6-K
1934 Act Registration No.1-14700
SECURITIES AND EXCHANGECOMMISSION
Washington, DC 20549
FORM 6-K
REPORT OFFOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2012
TaiwanSemiconductor Manufacturing Company Ltd.
(Translation of Registrants Name Into English)
No.8, Li-Hsin Rd. 6,
Hsinchu Science Park,
Taiwan
(Address of Principal Executive Offices)
(Indicate bycheck mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form20-FForm40-F
(Indicate by check markwhether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
YesNo
(If Yes is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82:.)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TaiwanSemiconductorManufacturingCompanyLtd.
Date: July19, 2012
By
/s/ Lora Ho
Lora Ho
SeniorVicePresident&ChiefFinancialOfficer
2012 Second Quarter Earnings Conference
July19, 2012
2012 TSMC, Ltd
Open InnovationPlatform
Agenda
TSMC Property
Welcome
2Q12 Financial Results and 3Q12 Outlook CEO Message
Q&A
Elizabeth Sun Lora Ho Morris Chang Morris Chang / Lora Ho
2012 TSMC, Ltd
Open InnovationPlatform
Safe Harbor Notice
TSMC Property
TSMCs statements of its current expectations are forward-looking statements subject to significant risks anduncertainties and actual results may differ materially from those contained in the forward-looking statements.
Information as to those factors that could cause actual results to vary can be found in TSMCs Annual Report on Form20-F filed with the United States Securities and Exchange Commission (the SEC) on April13, 2012 and such other documents as TSMC may file with, or submit to, the SEC from time to time.
Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of newinformation, future events, or otherwise.
2012 TSMC, Ltd
Open Innovation Platform
Income Statements
TSMC Property
Selected Items from Income Statements 2Q12 2Q12 Guidance 1Q12 2Q11 2Q12 over 1Q12 2Q12 over 2Q11
(In NT billions)
Net Sales 128.06 126 - 128 105.51 110.51 +21.4% +15.9%
Gross Margin 48.6% 47% - 49% 47.7% 46.0% +0.9 ppt +2.6 ppts
Operating Expenses (15.54)(14.92)(12.99) +4.2% +19.7%
Operating Margin 36.5% 34.5% - 36.5% 33.6% 34.3% +2.9 ppts +2.2 ppts
Non-Operating Items (0.79) 0.22 1.19 -464.8% -166.3%
Net Income 41.81 33.47 35.95 +24.9% 16.3%
NetMargin 32.7% 31.7% 32.5% +1.0 ppts +0.2 ppt
EPS (NT Dollar) 1.61 1.29 1.39 +24.9% 16.3%
ROE 26.0% 20.8% 24.5% +5.2 ppts +1.5 ppts
Shipment (Kpcs, 8-equiv. Wafer) 3,701 2,919 3,291 +26.8% 12.5%
Average Exchange RateNTD/USD 29.60 29.71 28.86 -0.3% +2.6%
2012 TSMC, Ltd
Open InnovationPlatform
2Q12 Revenue by Application
TSMC Property
Industrial/Standard 22%
Consumer 9%
Computer 21%
Communication 48%
Communication
QoQ +27%
1Q12 2Q12
Revenue (NT$B)
0 50
Computer
QoQ +20%
1Q12 2Q12
Revenue (NT$B)
0 50
Consumer
QoQ +9%
1Q12 2Q12
Revenue (NT$B)
0 50
Industrial/Standard
QoQ +39%
1Q12 2Q12
Revenue (NT$B)
0 50
2012 TSMC, Ltd
Open Innovation Platform
2Q12 Revenue by Technology
TSMC Property
0.25/0.35um6%
0.5um+ 2%
28nm 7%
0.15/0.18um 15%
0.11/0.13um 6%
90nm 10%
65nm 26%
40/45nm 28%
65nm and below revenue
Revenue (NT$B)
1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12
0 10 20 30 4050 60 70
0% 10% 20% 30% 40% 50% 60% 70%
% of Sales
28nm Rev (NT$B) 40nm Rev (NT$B) 65nm Rev (NT$B)
65nm and below combined as % of Sales
2012 TSMC, Ltd
Open InnovationPlatform
Balance Sheets& Key Indices
TSMCProperty
Selected Items from Balance Sheets 2Q12 1Q12 2Q11
(In NT billions) Amount% Amount% Amount%
Cash& Marketable Securities 188.37 21.3% 180.65 21.7% 159.13 20.3%
Accounts Receivable - Trade 54.94 6.2% 48.02 5.8% 46.19 5.9%
Inventory 30.78 3.5% 27.76 3.3% 31.52 4.0%
Long-Term Investment 28.16 3.2% 29.84 3.6% 34.84 4.4%
Net PP&E 548.15 62.0% 509.92 61.3% 477.89 61.0%
Total Assets 883.91 100.0% 831.89 100.0% 783.82 100.0%
Current Liabilities 211.85 23.9% 126.20 15.2% 205.49 26.2%
Long-Term Interest-bearing Debt 37.28 4.2% 37.30 4.5% 5.19 0.7%
Total Liabilities 253.85 28.7% 168.31 20.2% 215.46 27.5%
Total Shareholders Equity 630.06 71.3% 663.58 79.8% 568.36 72.5%
Key Indices
A/R Turnover Days 37 39 39
Inventory TurnoverDays 44 47 53
Current Ratio (x)1.3 2.1 1.2
Asset Productivity (x)(1)1.0 0.8 1.0
(1) Asset productivity = Annualized net sales / Average net fixed assets.
2012 TSMC, Ltd
Open InnovationPlatform
Cash Flows
TSMC Property
(In NT billions) 2Q12 1Q12 2Q11
Beginning Balance 170.82 143.47 129.45
Cash fromoperating activities 69.97 57.05 63.06
Capital expenditures (59.47)(48.57)(64.88)
Short-term loans (3.92) 8.76(1.04)
Proceeds from issuance of bonds 0.00 17.00 0.00
Repayment of bonds payable 0.00(4.50) 0.00
Investments and others 1.04(2.39) 24.39
EndingBalance 178.44 170.82 150.98
Free Cash Flow 10.50 8.48(1.82)
2012 TSMC, Ltd
Open Innovation Platform
Installed Capacity
2012 Overall Capacity +14%;12-inch Capacity +21%
TSMC Property
FAB / (Wafer size) 4Q11 2011 1Q12 2Q12 3Q12 4Q12 2012
(A)(A)(A)(A)(F)(F)(F)
Fab-2( 6)(1)255 1,000 253 247 256 256 1,012
Fab-3( 8) 304 1,184 298 300 304 306 1,208
Fab-5( 8) 136 547 145 146 148 148 587
Fab-6( 8) 286 1,128 298 296 298 298 1,191
Fab-8( 8) 255 1,003 262 263 266 266 1,057
Fab-12( 12) (2)337 1,334 373 367 378 382 1,500
Fab-14( 12) (2)504 1,927 549 546 563 552 2,210
Fab-15( 12) (2)0 0 0 18 69 135 222
WaferTech( 8) 107 429 110 111 112 112 444
TSMC China( 8) 230 772 222 230 232 236 921
TSMC& Subsidiaries 3,352 12,963 3,553 3,579 3,776 3,915 14,823
(8 Equivalent Kpcs)
SSMC( 8) 65 258 64 64 65 65 258
TotalTSMC-managed 3,417 13,221 3,616 3,643 3,841 3,980 15,080
(8 Equivalent Kpcs)
(1) Figures represent number of 6 wafers. Conversion to 8-equivalent wafers is obtained by dividing thisnumber by 1.78.
(2) Figures represent number of 12 wafers. Conversion to 8-equivalent wafers isobtained by multiplying this number by 2.25.
2012 TSMC, Ltd
Open Innovation Platform
3Q12 Guidance
TSMC Property
Based on our current business outlook and exchange rate assumption, management expects:
Revenue to be between NT$ 136 billion and NT$ 138 billion, at a forecast exchange rate of 29.76 NT dollars to 1 US dollar
Gross profit margin to be between 46% and 48%
Operating profit margin to be between 34% and 36%
2012 TSMC, Ltd
Open Innovation Platform
TSMC Property
http://www.tsmc.com
2012 TSMC, Ltd
Open InnovationPlatform
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