6-K

 

					1934 Act Registration No. 1-14700
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
		FORM 6-K
	REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
		For the month of January 2021 (Commission File Number: 001-14700)
Taiwan Semiconductor Manufacturing Company Ltd. (Translation of Registrant’s Name Into English)
		No. 8, Li-Hsin Rd. 6, Hsinchu Science Park, Taiwan, R.O.C. (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  ☒            Form 40-F  ☐
Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7): ☐

 

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:	January 14, 2021	By	/s/ Wendell Huang
			Wendell Huang
			Vice President & Chief Financial Officer

 

Exhibits
Exhibit Number	Exhibit Description
99.1	Press release issued by TSMC on January 14, 2021.
99.2	TSMC 4Q20 conference call presentation material.

EX-99.1

TSMC Reports Fourth Quarter EPS of NT$5.51

Hsinchu, Taiwan, R.O.C., January 14, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$361.53 billion, net income of NT$142.77 billion, and diluted earnings per share of NT$5.51 (US$0.97 per ADR unit) for the fourth quarter ended December 31, 2020.

Year-over-year, fourth quarter revenue increased 14.0% while net income and diluted EPS both increased 23.0%. Compared to third quarter 2020, fourth quarter results represented a 1.4% increase in revenue and a 4.0% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, fourth quarter revenue was $12.68 billion, which increased 22.0% year-over-year and increased 4.4% from the previous quarter.

Gross margin for the quarter was 54.0%, operating margin was 43.5%, and net profit margin was 39.5%.

In the fourth quarter, shipments of 5-nanometer accounted for 20% of total wafer revenue; 7-nanometer and 16-nanometer accounted for 29% and 13% respectively. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 62% of total wafer revenue.

“Our fourth quarter business was supported by strong demand for our industry-leading 5-nanometer technology, driven by 5G smartphone launches and HPC-related applications,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into first quarter 2021, we expect our business to be supported by HPC-related demand, recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”

Based on the Company’s current business outlook, management expects the overall performance for first quarter 2021 to be as follows:

• Revenue is expected to be between US$12.7 billion and US$13.0 billion;

And, based on the exchange rate assumption of 1 US dollar to 27.95 NT dollars,

• Gross profit margin is expected to be between 50.5% and 52.5%;

• Operating profit margin is expected to be between 39.5% and 41.5%.

The management further expects the 2021 capital budget to be between US$25 billion and US$28 billion.

TSMC’s 2020 fourth quarter consolidated results: (Unit: NT$ million, except for EPS)
	4Q20	4Q19	YoY	3Q20	QoQ
	Amounta	Amount	Inc. (Dec.) %	Amount	Inc. (Dec.) %
Net sales	361,533	317,237	14.0	356,426	1.4
Gross profit	195,236	159,202	22.6	190,494	2.5
Income from operations	157,120	124,244	26.5	150,048	4.7
Income before tax	161,107	128,782	25.1	155,124	3.9
Net income	142,766	116,035	23.0	137,310	4.0
EPS (NT$)	5.51b	4.47b	23.0	5.30b	4.0
a: 4Q2020 figures have not been approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares

About TSMC TSMC pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s largest dedicated semiconductor foundry ever since. The Company supports a thriving ecosystem of global customers and partners with the industry’s leading process technologies and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry. With global operations spanning Asia, Europe, and North America, TSMC serves as a committed corporate citizen around the world. TSMC deployed 281 distinct process technologies, and manufactured 11,617 products for 510 customers in 2020 by providing broadest range of advanced, specialty and advanced packaging technology services. TSMC is the first foundry to provide 5-nanometer production capabilities, the most advanced semiconductor process technology available in the world. The Company is headquartered in Hsinchu, Taiwan. For more information please visit https://www.tsmc.com #     #     #
TSMC Spokesperson:	Media Contacts:
Wendell Huang Vice President and CFO Tel: 886-3-505-5901	Nina Kao Head of Public Relations Tel: 886-3-563-6688 ext.7125036       Mobile: 886-988-239-163 E-Mail: nina_kao@tsmc.com	Hui-Chung Su Public Relations Tel: 886-3-563-6688 ext. 7125033 Mobile: 886-988-930-039 E-Mail: hcsuq@tsmc.com	Michael Kramer Public Relations Tel: 886-3-563-6688 ext. 7125031 Mobile: 886-988-931-352 E-Mail: pdkramer@tsmc.com

EX-99.2

2020 Fourth Quarter Earnings Conference January 14, 2021

Agenda Welcome Jeff Su, IR Director 4Q20 Financial Results and 1Q21 Outlook Wendell Huang, CFO Key Messages Wendell Huang, CFO C.C. Wei, CEO Q&A

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 15, 2020 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.

Statements of Comprehensive Income

4Q20 Revenue by Technology

Revenue by Technology

4Q20 Revenue by Platform

2020 Revenue by Platform

Balance Sheets & Key Indices

Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *

2020 Financial Highlights

1Q21 Guidance Revenue to be between US$ 12.7 billion and US$ 13.0 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 27.95 NT dollars, management expects: Gross profit margin to be between 50.5% and 52.5% Operating profit margin to be between 39.5% and 41.5%

Recap of Recent Major Events Please visit TSMC's website (https://www.tsmc.com) and Market Observation Post System (https://mops.twse.com.tw) for details and other announcements TSMC Recognized with 2021 IEEE Corporate Innovation Award (2020/12/09) TSMC Recognizes Outstanding Suppliers at 2020 Supply Chain Management Forum (2020/12/03) TSMC Board of Directors Approved an Investment to Establish a Wholly-Owned Subsidiary in Arizona, U.S., with a Paid-in Capital of US$3.5 Billion (2020/11/10) TSMC Board of Directors Approved NT$2.5 Cash Dividend for the Third Quarter of 2020 and Set March 17 as Ex-Dividend Date, March 23 as the Record Date and April 15, 2021 as the Distribution Date (2020/11/10) TSMC Announces 2020 OIP Partner of the Year Awards for Excellence in Accelerating Silicon Innovation (2020/10/20)

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