Form 6-K

1934 Act Registration No. 1-14700

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2012

 

 

Taiwan Semiconductor Manufacturing Company Ltd.

(Translation of Registrant’s Name Into English)

 

 

No. 8, Li-Hsin Rd. 6,

Hsinchu Science Park,

Taiwan

(Address of Principal Executive Offices)

 

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  x            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.)

Yes  ¨            No  x

(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.

 

   

Taiwan Semiconductor Manufacturing Company Ltd.

Date: October 25, 2012   By  

/s/ Lora Ho

    Lora Ho
    Senior Vice President & Chief Financial Officer


2012 Third Quarter
2012 Third Quarter
Earnings Conference
Earnings Conference
October 25, 2012
October 25, 2012
©
2012 TSMC, Ltd


©
2012 TSMC, Ltd
TSMC Property
Agenda
Welcome
Elizabeth Sun
3Q12 Financial Results and 4Q12 Outlook
Lora Ho
CEO Message
Morris Chang
Q&A
Morris Chang /
Lora Ho


©
2012 TSMC, Ltd
TSMC Property
Safe Harbor Notice
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 13, 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
new information, future events, or otherwise.


©
2012 TSMC, Ltd
TSMC Property
Agenda
Welcome
Elizabeth Sun
3Q12 Financial Results and 4Q12 Outlook
Lora Ho
CEO Message
Morris Chang
Q&A
Morris Chang /
Lora Ho


©
2012 TSMC, Ltd
TSMC Property
Income Statements
**  Diluted
weighted
average
outstanding
shares
were
25,927mn
units
in
3Q12
**  ROE figures are annualized based on average equity attributable to shareholders of the parent
Selected
Items
from
Income
Statements
3Q12
(In NT billions)
Guidance
Net Sales
141.38
136 -
138
128.06
106.48
+10.4%
+32.8%
Gross Margin
48.8%
46% -
48%
48.6%
42.0%
+0.2 ppt
+6.8 ppts
Operating Expenses
(16.38)
(15.54)
(13.17)
+5.4%
+24.3%
Operating Margin
37.2%
34% -
36%
36.5%
29.7%
+0.8 ppt
+7.6 ppts
Non-Operating Items
1.08
(0.79)
0.56
NM
+91.5%
Net Income
49.30
41.81
30.40
+17.9%
+62.2%
Net Margin
34.9%
32.7%
28.5%
+2.2 ppts
+6.4 ppts
EPS (NT Dollar)
1.90
1.61
1.17
+17.9%
+62.2%
ROE
30.3%
26.0%
20.9%
+4.3 ppts
+9.4 ppts
Shipment (Kpcs, 8"-equiv. Wafer)
3,860
3,701
3,180
+4.3%
+21.4%
Average Exchange Rate--NTD/USD
29.86
29.60
29.12
+0.9%
+2.5%
3Q12
2Q12
3Q11
3Q12
over
2Q12
3Q12
over
3Q11


©
2012 TSMC, Ltd
TSMC Property
3Q12 Revenue by Application
70
2Q12
3Q12
70
2Q12
3Q12
Communication
49%
Consumer
8%
19%
+11%
QoQ
+4%
QoQ
+0%
Computer
Communication
Consumer
Industrial/Standard
QoQ
+17%
70
2Q12
3Q12
Industrial/Standard
24%
70
2Q12
3Q12
QoQ
0
0
0
0
Computer


©
2012 TSMC, Ltd
TSMC Property
3Q12 Revenue by Technology


©
2012 TSMC, Ltd
©
2012 TSMC, Ltd
TSMC Property
Balance Sheets & Key Indices
Selected Items from Balance Sheets
(In NT billions)
Amount
%
Amount
%
Amount
%
Cash & Marketable Securities
147.75
16.8%
188.37
21.3%
120.26
16.4%
Accounts Receivable - Trade
58.41
6.6%
54.94
6.2%
45.46
6.2%
Inventory
33.25
3.8%
30.78
3.5%
25.69
3.5%
Long-Term Investment
28.64
3.3%
28.16
3.2%
36.47
5.0%
Net PP&E
580.08
66.0%
548.15
62.0%
472.95
64.4%
Total Assets
878.65
100.0%
883.91
100.0%
734.64
100.0%
Current Liabilities
119.05
13.5%
211.85
23.9%
108.37
14.7%
Long-Term Interest-bearing Debt
77.73
8.8%
37.28
4.2%
20.34
2.8%
Total Liabilities
201.51
22.9%
253.85
28.7%
133.52
18.2%
Total Shareholders' Equity
677.15
77.1%
630.06
71.3%
601.12
81.8%
Key Indices
A/R Turnover Days
Inventory Turnover Days
Current Ratio (x)
Asset Productivity (x)
*  Total outstanding shares were 25,922mn units at 9/30/12
** Asset productivity = Annualized net sales / Average net fixed assets.
1.1
1.0
0.9
44
44
45
2.1
1.3
1.8
3Q12
2Q12
3Q11
37
37
39


©
2012 TSMC, Ltd
TSMC Property
Cash Flows
(In NT billions)
3Q12
2Q12
3Q11
Beginning Balance
178.44
170.82
150.98
Cash from operating activities
76.63
69.97
55.21
Capital expenditures
(78.33)
(59.47)
(38.05)
Cash dividends
(77.75)
0.00
(77.73)
Short-term loans
(1.02)
(3.92)
2.88
Proceeds from issuance of bonds
40.60
0.00
18.00
Investments and others
0.17
1.04
3.55
Ending Balance
138.74
178.44
114.84
Free Cash Flow
(1.70)
10.50
17.16


©
2012 TSMC, Ltd
TSMC Property
(1)
Figures represent number of 6”
wafers.  Conversion to 8”-equivalent wafers is obtained by dividing this number by 1.78
(2)
Figures represent number of 12”
wafers.  Conversion to 8”-equivalent wafers is obtained by multiplying this number by 2.25
Installed Capacity
2012 Overall Capacity +14%; 12-inch Capacity +21%
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)
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
Total TSMC-managed
3,417
13,221
3,616
3,643
3,841
3,980
15,080
2012
(F)
4Q12
(F)
1Q12
(A)
2011
(A)
FAB / (Wafer size)
4Q11
(A)
2Q12
(A)
3Q12
(A)


©
2012 TSMC, Ltd
Revenue to be between NT$ 129 billion and NT$ 131 billion, at
a forecast exchange rate of 29.47 NT dollars to 1 US dollar
Gross profit margin to be between 45 % and 47 %
Operating profit margin to be between 33 % and 35 %
Based on our current business outlook and exchange rate assumption,
management expects:
4Q12 Guidance
TSMC Property
©
2012 TSMC, Ltd


http://www.tsmc.com
http://www.tsmc.com
invest@tsmc.com
invest@tsmc.com
©
2012 TSMC, Ltd
TSMC Property