(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
(Indicate by check mark whether 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.)
(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.
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Taiwan Semiconductor Manufacturing Company Ltd.
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Date: October 13, 2016
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By
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/s/ Lora Ho
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Lora Ho
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Senior Vice President & Chief Financial Officer
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2016 Third Quarter
Earnings Conference
Oct 13, 2016
© 2016 TSMC, Ltd
Agenda TSMC Property
Welcome ElizabethSun
3Q16 Financial Results and4Q16OutlookLora Ho
Key Messages Mark Liu
C.C. Wei
Lora Ho
Q&A
© 2016 TSMC, Ltd
Safe Harbor Notice TSMC Property
TSMC s
statements of its current expectations are forward-looking statements subject to significant risks and uncertainties 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 TSMC s Annual Report on Form 20-F
filed with the United States Securities and Exchange Commission
(the “SEC”) on April 11, 2016 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 new
information, future events, or otherwise.
2016 TSMC, Ltd
Statements of Comprehensive Income TSMC Property
Selected Items from Statements of Comprehensive Income
3Q163Q163Q16
3Q16 2Q163Q15overover
Guidance
(In NT$ billions) 2Q163Q15
Net Revenue 260.41 254-257221.81212.5117.4%22.5%
Gross Margin 50.7% 50% -52%51.5%48.2%-0.8 ppt+2.5 ppts
Operating Expenses (25.84) (23.01)(22.16)12.3%16.6%
Operating Margin 40.8% 39.5% -41.5%41.2%36.9%-0.4 ppt+3.9 ppts
Non-Operating Items 1.99 2.095.01-4.7%-60.3%
Net Income to Shareholders of the Parent Company 96.76 72.5175.3333.4%28.4%
Net Profit Margin 37.2% 32.7%35.4%+4.5 ppts+1.8 ppts
EPS (NT Dollar) 3.73 2.802.9133.4%28.4%
ROE 31.2% 23.4%27.2%+7.8 ppts+4.0 ppts
Shipment (Kpcs, 12”-equiv. Wafer) 2,638 2,2972,21614.8%19.0%
Average Exchange Rate—USD/NTD 31.77 32.3032.4131.88-2.0%-0.4%
Diluted weighted average outstanding shares were 25,930mn units in 3Q16.
ROE figures are annualized based on average equity attributable to shareholders of the parent company.
© 2016 TSMC, Ltd
3Q16 Revenue by Application
Consumer 11%
Industrial/Standard 21% Computer 8%
Communication 60%
Communication Computer Consumer Industrial/Standard
150 QoQ +19% 150 150 150
Revenue (NT$B) Revenue (NT$B)
Revenue (NT$B)
Revenue (NT$B)
2Q16 3Q16 2Q16 3Q16 2Q16 3Q16 2Q16 3Q16
©
2016 TSMC, Ltd
3Q16 Revenue by Technology TSMC Property
90nm 5%
0.11/0.13um 3% 0.15/0.18um 9% 0.25um and above 4%
65nm 11% 40/45nm 13% 28nm 24% 16/20nm 31%
28nm and below revenue
Revenue (NT$B) 150 100 50 0 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16
© 2016 TSMC, Ltd
Balance Sheets & Key Indices TSMC Property
Selected Items from Balance Sheets 3Q16 2Q163Q15
(In NT$ billions) Amount %Amount%Amount%
Cash & Marketable Securities 516.95 30.1%667.8637.0%524.8833.3%
Accounts Receivable 129.29 7.5%111.726.2%97.126.2%
Inventories 53.88 3.1%60.713.3%65.074.1%
Long-term Investments 49.91 2.9%53.403.0%31.022.0%
Net PP&E 934.93 54.4%875.8748.5%830.8252.7%
Total Assets 1,718.69 100.0%1,804.49100.0%1,576.22100.0%
Current Liabilities 257.56 15.0%398.7422.1%201.6912.8%
Long-term Interest-bearing Debts 152.16 8.9%181.3010.0%192.0112.2%
Total Liabilities 434.80 25.3%607.1633.6%425.2227.0%
Total Shareholders’ Equity 1,283.89 74.7%1,197.3366.4%1,151.0073.0%
Key Indices
A/R Turnover
Days 42 4342
Inventory Turnover Days 44 5459
Current Ratio (x) 2.8 2.13.4
Asset Productivity (x) 1.2 1.01.0
Total outstanding shares were 25,930mn units at 9/30/16.
Asset productivity = Annualized net revenue / Average net PP&E
© 2016 TSMC, Ltd
Cash Flows TSMC Property
(In NT$
billions) 3Q16 2Q163Q15
Beginning Balance 622.36 617.98528.90
Cash from operating activities 126.41 106.68118.14
Capital expenditures (103.78) (73.59)(70.30)
Cash dividends (155.58) 0.00(116.68)
Short-term loans 0.00 3.9627.70
Investments and others (25.44) (32.67)27.97
Ending Balance 463.97 622.36515.73
Free Cash Flow (1) 22.63 33.0947.84
(1) Free cash flow = Cash from operating activities—Capital expenditures
© 2016 TSMC, Ltd
4Q16 Guidance TSMC Property
Based on our current
business outlook and exchange rate assumption, management expects:
Revenue to be between NT$ 255 billion and
NT$ 258 billion, at a forecast exchange rate of 31.50 NT dollars to 1 US dollar
Gross
profit margin to be between 50.5% and 52.5%
Operating profit margin to be between 40%
and 42%
2016 TSMC, Ltd
Recap of Recent Major Events TSMC Property
Renesas Electronics and TSMC Announce 28nm MCU Collaboration for Next-Generation Green and Autonomous Vehicles
(2016/09/01)
[Graphic Appears Here]
TSMC s Board approved the acquisition from VisEra Holding Company of 86.9% shareholding in VisEra Technologies Company Ltd. and 6.9% shareholding in Xintec Inc. to simplify investment
structure (2016/08/02)
Please visit TSMC’s website (http://www.tsmc.com) and Market Observation Post
System
(http://mops.twse.com.tw) for details and other announcements
© 2016 TSMC, Ltd
http://www.tsmc.com
invest@tsmc.com
© 2016 TSMC, Ltd