Exhibit 99.1

UNITED MICROELECTRONICS CORPORATION

AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

WITH REPORT OF INDEPENDENT ACCOUNTANTS

FOR THE THREE-MONTH PERIODS ENDED

MARCH 31, 2015 AND 2014

Address:     No. 3 Li-Hsin Road II, Hsinchu Science Park, Hsinchu City, Taiwan, R.O.C.

Telephone: 886-3-578-2258

The reader is advised that these consolidated financial statements have been prepared originally in Chinese. In the event of a conflict between these financial statements and the original Chinese version or difference in interpretation between the two versions, the Chinese language financial statements shall prevail.

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REVIEW REPORT OF INDEPENDENT ACCOUNTANTS

English Translation of a Report Originally Issued in Chinese

To United Microelectronics Corporation

We have reviewed the accompanying consolidated balance sheets of United Microelectronics Corporation and subsidiaries (collectively, the “Company”) as of March 31, 2015 and 2014, the related consolidated statements of comprehensive income for the three-month periods ended March 31, 2015 and 2014 and consolidated statements of changes in equity and cash flows for the three-month periods ended March 31, 2015 and 2014. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to issue the review report based on our reviews. Certain investments, which were accounted for under the equity method based on the financial statements of the investees, were reviewed by other independent accountants. Our reviews, insofar as it related to the investments accounted for under the equity method balances of NT$4,631 million and NT$4,021 million, which represented 1.44% and 1.33% of the total consolidated assets as of March 31, 2015 and 2014, respectively, the related shares of investment income from the associates and joint ventures amounted to NT$(9) million and NT$16 million, which represented (0.20)% and 1.27% of the consolidated income from continuing operations before income tax for the three-month periods ended March 31, 2015 and 2014, respectively, and the related shares of other comprehensive income from the associates and joint ventures amounted to NT$209 million and NT$270 million, which represented 5.49% and 5.14% of the consolidated total comprehensive income, for the three-month periods ended March 31, 2015 and 2014, respectively, are based solely on the reports of other independent accountants.

We conducted our reviews in accordance with the Statements of Auditing Standards No. 36, “Review of Financial Statements” of the Republic of China. A review is limited primarily to applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the consolidated financial statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our reviews and the reports of other independent accountants, we are not aware of any material modifications or adjustments that should be made to the consolidated financial statements referred to above in order for them to be in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standards No. 34, “Interim Financial Reporting” which is endorsed by Financial Supervisory Commission of the Republic of China.

ERNST & YOUNG

Taiwan

Republic of China

April 29, 2015

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally accepted and applied in the Republic of China.

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English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31, 2015, December 31, 2014 and March 31, 2014 (March 31, 2015 and 2014 are unaudited)

(Expressed in Thousands of New Taiwan Dollars)

		As of
Assets	Notes	March 31, 2015		December 31, 2014		March 31, 2014
Current assets
Cash and cash equivalents	4, 6(1)	$	53,632,056	$	45,701,335	$	53,915,155
Financial assets at fair value through profit or loss, current	4, 6(2), 12(7)		900,934		740,129		857,157
Available-for-sale financial assets, current	4, 6(5), 12(7)		—		—		2,313,818
Notes receivable	4		67,953		126,141		53,951
Accounts receivable, net	4, 6(3)		20,553,750		22,207,271		18,827,301
Accounts receivable-related parties, net	4, 7		1,370		36,022		4,887
Other receivables	4		553,107		658,409		634,184
Current tax assets	4		36,445		34,480		53,248
Inventories, net	4, 5, 6(4)		15,641,351		15,242,232		14,421,441
Prepayments			1,519,517		2,003,269		2,107,851
Non-current assets held for sale	4, 6(24)		5,813,415		6,978,991		67,108
Other current assets			2,313,713		3,134,870		3,497,601
Total current assets			101,033,611		96,863,149		96,753,702
Non-current assets
Financial assets at fair value through profit or loss, noncurrent	4, 6(2), 12(7)		44,338		45,232		98,052
Available-for-sale financial assets, noncurrent	4, 5, 6(5), 12(7)		26,821,106		24,362,104		21,710,827
Financial assets measured at cost, noncurrent	4, 6(6)		3,855,368		3,833,006		4,169,010
Investments accounted for under the equity method	4, 5, 6(7)		9,337,152		9,237,713		8,674,050
Property, plant and equipment	4, 5, 6(8), 8		165,956,301		166,690,243		158,012,762
Intangible assets	4, 6(9)		4,492,321		4,532,938		4,555,177
Deferred tax assets	4, 5, 6(22)		2,043,214		2,244,810		2,735,375
Prepayment for equipment			2,602,567		1,063,353		255,601
Refundable deposits	8		1,145,916		1,145,843		1,252,213
Prepayment for investments			90,824		—		—
Other assets-others			3,642,088		3,227,257		3,410,650
Total non-current assets			220,031,195		216,382,499		204,873,717
Total assets		$	321,064,806	$	313,245,648	$	301,627,419

(continued)

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English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31, 2015, December 31, 2014 and March 31, 2014 (March 31, 2015 and 2014 are unaudited)

(Expressed in Thousands of New Taiwan Dollars)

		As of
Liabilities and Equity	Notes	March 31, 2015			December 31, 2014			March 31, 2014
Current liabilities
Short-term loans	6(10), 8	$	7,216,847		$	6,250,754		$	7,516,080
Financial liabilities at fair value through profit or loss, current	4, 5, 6(11), 12(7)		—			42,354			18,087
Notes and accounts payable			6,382,973			6,167,339			7,154,997
Other payables			11,942,069			12,421,152			10,553,628
Payables on equipment			7,411,869			10,478,714			4,820,059
Current tax liabilities	4		2,737,970			2,540,688			1,147,185
Liabilities directly associated with non-current assets held for sale	4, 6(24)		4,448,125			5,594,850			23,104
Current portion of long-term liabilities	4, 6(12), 6(13)		3,637,118			3,774,986			16,903,347
Other current liabilities			665,974			835,239			1,099,150
Total current liabilities			44,442,945			48,106,076			49,235,637
Non-current liabilities
Bonds payable	4, 6(12)		24,978,847			24,977,820			19,980,247
Long-term loans	6(13), 8		9,911,068			8,423,470			7,679,021
Deferred tax liabilities	4, 5, 6(22)		1,847,133			2,161,014			2,594,301
Net defined benefit liabilities, non-current	4, 5		3,832,717			3,825,490			3,803,087
Guarantee deposits			478,099			451,906			361,801
Other liabilities-others			6,311,765			291,021			198,014
Total non-current liabilities			47,359,629			40,130,721			34,616,471
Total liabilities			91,802,574			88,236,797			83,852,108
Equity attributable to the parent company
Capital	4, 5, 6(15), 6(16)
Common stock			127,477,628			127,252,078			126,978,232
Capital collected in advance			32,096			50,970			50,336
Additional paid-in capital	4, 5, 6(12), 6(15), 6(16)
Premiums			37,219,718			37,145,022			43,181,516
Treasury stock transactions			1,255,514			1,255,514			1,219,636
The differences between the fair value of the consideration paid or received from acquiring or disposing subsidiaries and the carrying amounts of the subsidiaries			348,342			348,342			236,259
Recognize changes in subsidiaries’ ownership			—			563			—
Share of changes in net assets of associates and joint ventures accounted for using equity method			114,434			91,238			21,801
Employee stock options			99,958			166,268			245,679
Stock options			—			—			403,880
Other			567,530			440,932			—
Retained earnings	6(15)
Legal reserve			6,511,844			6,511,844			5,248,824
Unappropriated earnings			41,803,623			37,827,179			28,368,858
Other components of equity	4
Exchange differences on translation of foreign operations			(1,804,697	)		(899,979	)		(3,818,628	)
Unrealized gains or losses on available-for-sale financial assets			14,107,277			13,272,691			13,674,270
Equity directly associated with non-current assets held for sale			—			—			869
Treasury stock	4, 6(15)		(2,303,609	)		(2,303,609	)		(2,365,246	)
Total equity attributable to the parent company			225,429,658			221,159,053			213,446,286
Non-controlling interests	6(15)		3,832,574			3,849,798			4,329,025
Total equity			229,262,232			225,008,851			217,775,311
Total liabilities and equity		$	321,064,806		$	313,245,648		$	301,627,419

The accompanying notes are an integral part of the consolidated financial statements.

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English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the three-month periods ended March 31, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars, Except for Earnings per Share)

		For the three-month periods ended March 31,
	Notes	2015			2014
Operating revenues	4, 5, 7, 14
Sales revenues		$	37,200,156		$	30,828,276
Less: Sales returns and discounts			(493,739	)		(81,557	)
Net sales			36,706,417			30,746,719
Other operating revenues			943,227			946,866
Net operating revenues	4, 6(17)		37,649,644			31,693,585
Operating costs	4, 6(4), 6(14), 6(16) 6(18), 14
Costs of goods sold			(27,652,403	)		(25,054,897	)
Other operating costs			(842,132	)		(737,310	)
Operating costs			(28,494,535	)		(25,792,207	)
Gross profit			9,155,109			5,901,378
Operating expenses	4, 6(14), 6(16), 6(18) 7, 14
Sales and marketing expenses			(1,044,487	)		(833,578	)
General and administrative expenses			(953,013	)		(847,766	)
Research and development expenses			(2,916,323	)		(3,334,852	)
Subtotal			(4,913,823	)		(5,016,196	)
Net other operating income and expenses	4, 6(19)		(142,614	)		55,457
Operating income			4,098,672			940,639
Non-operating income and expenses
Other income	4, 6(20)		74,095			125,606
Other gains and losses	4, 6(20), 14		331,539			393,763
Finance costs	6(20)		(114,734	)		(155,148	)
Share of profit or loss of associates and joint ventures	4, 5, 6(7), 14		41,806			(35,381	)
Exchange gain, net	4, 12		—			22,104
Exchange loss, net	4, 12		(77,268	)		—
Subtotal			255,438			350,944
Income from continuing operations before income tax			4,354,110			1,291,583
Income tax expense	4, 5, 6(22), 14		(441,638	)		(180,776	)
Net income			3,912,472			1,110,807
Other comprehensive income (loss)	6(21)
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations			(890,828	)		1,444,082
Unrealized gain on available-for-sale financial assets			617,059			2,409,477
Share of other comprehensive income of associates and joint ventures	4		178,692			350,684
Income tax related to components of other comprehensive income	4, 6(22)		(12,021	)		(73,963	)
Total other comprehensive income (loss), net of tax			(107,098	)		4,130,280
Total comprehensive income (loss)		$	3,805,374		$	5,241,087
Net income attributable to:
Stockholders of the parent		$	3,979,910		$	1,179,698
Non-controlling interests			(67,438	)		(68,891	)
		$	3,912,472		$	1,110,807
Comprehensive income (loss) attributable to:
Stockholders of the parent		$	3,909,778		$	5,260,712
Non-controlling interests			(104,404	)		(19,625	)
		$	3,805,374		$	5,241,087
Earnings per share (NTD)	4, 6(23)
Earnings per share-basic		$	0.32		$	0.09
Earnings per share-diluted		$	0.31		$	0.09

The accompanying notes are an integral part of the consolidated financial statements.

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English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the three-month periods ended March 31, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars)

		Equity Attributable to the Parent Company
		Capital								Retained Earnings					Other Components of Equity
	Notes	Common Stock		Collected in Advance			Additional Paid-in Capital			Legal Reserve		Unappropriated Earnings			Exchange Differences on Translation of Foreign Operations			Unrealized Gain or Loss on Available- for-Sale Financial Assets		Equity Directly Associated with Non- Current Assets Held for Sale		Treasury Stock			Total			Non- Controlling Interests			Total Equity
Balance as of January 1, 2014	6(15)	$	126,920,817	$	25,682		$	45,326,454		$	5,248,824	$	27,189,160		$	(5,271,199	)	$	11,046,696	$	—	$	(2,365,246	)	$	208,121,188		$	4,319,988		$	212,441,176
Net income for the three-month ended March 31, 2014	6(15)		—		—			—			—		1,179,698			—			—		—		—			1,179,698			(68,891	)		1,110,807
Other comprehensive income (loss), net of tax for the three-month ended March 31, 2014	6(15), 6(21)		—		—			—			—		—			1,453,440			2,627,574		—		—			4,081,014			49,266			4,130,280
Total comprehensive income (loss)			—		—			—			—		1,179,698			1,453,440			2,627,574		—		—			5,260,712			(19,625	)		5,241,087
Share-based payment transaction	4, 5, 6(15), 6(16)		57,415		24,654			4,105			—		—			—			—		—		—			86,174			—			86,174
Convertible bonds repurchased	4, 6(12)		—		—			460			—		—			—			—		—		—			460			—			460
Share of changes in net assets of associates and joint ventures accounted for using equity method			—		—			(2,748	)		—		—			—			—		—		—			(2,748	)		—			(2,748	)
Changes in subsidiaries’ ownership	4, 6(15)		—		—			(19,500	)		—		—			—			—		—		—			(19,500	)		28,662			9,162
Others			—		—			—			—		—			(869	)		—		869		—			—			—			—
Balance as of March 31, 2014	6(15)	$	126,978,232	$	50,336		$	45,308,771		$	5,248,824	$	28,368,858		$	(3,818,628	)	$	13,674,270	$	869	$	(2,365,246	)	$	213,446,286		$	4,329,025		$	217,775,311
Balance as of January 1, 2015	6(15)	$	127,252,078	$	50,970		$	39,447,879		$	6,511,844	$	37,827,179		$	(899,979	)	$	13,272,691	$	—	$	(2,303,609	)	$	221,159,053		$	3,849,798		$	225,008,851
Net income for the three-month ended March 31, 2015	6(15)		—		—			—			—		3,979,910			—			—		—		—			3,979,910			(67,438	)		3,912,472
Other comprehensive income (loss), net of tax for the three-month ended March 31, 2015	6(15), 6(21)		—		—			—			—		—			(904,718	)		834,586		—		—			(70,132	)		(36,966	)		(107,098	)
Total comprehensive income (loss)			—		—			—			—		3,979,910			(904,718	)		834,586		—		—			3,909,778			(104,404	)		3,805,374
Share-based payment transaction	4, 5, 6(15), 6(16)		225,550		(18,874	)		8,386			—		—			—			—		—		—			215,062			—			215,062
Share of changes in net assets of associates and joint ventures accounted for using equity method			—		—			23,196			—		—			—			—		—		—			23,196			—			23,196
Changes in subsidiaries’ ownership			—		—			(563	)		—		(3,466	)		—			—		—		—			(4,029	)		87,180			83,151
Others	4, 6(15)		—		—			126,598			—		—			—			—		—		—			126,598			—			126,598
Balance as of March 31, 2015	6(15)	$	127,477,628	$	32,096		$	39,605,496		$	6,511,844	$	41,803,623		$	(1,804,697	)	$	14,107,277	$	—	$	(2,303,609	)	$	225,429,658		$	3,832,574		$	229,262,232

The accompanying notes are an integral part of the consolidated financial statements.

6

English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the three-month periods ended March 31, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars)

	For the three-month periods ended March 31,
	2015			2014
Cash flows from operating activities:
Net income before tax	$	4,354,110		$	1,291,583
Adjustments to reconcile net income before tax to net cash provided by operating activities:
Depreciation		10,310,797			9,450,230
Amortization		437,399			400,083
Bad debt reversal		(9,429	)		(18,135	)
Net gain of financial assets and liabilities at fair value through profit or loss		(129,825	)		(15,545	)
Interest expense		101,040			147,307
Interest revenue		(74,095	)		(124,278	)
Dividend revenue		—			(1,328	)
Share-based payment		120			822
Share of profit or loss of associates and joint ventures		(41,806	)		35,381
Gain on disposal of property, plant and equipment		(52,113	)		(58,020	)
Gain on disposal of non-current assets held for sale		(41,203	)		—
Gain on disposal of investments		(189,697	)		(367,003	)
Impairment loss on financial assets		63,090			92,519
Impairment loss on non-financial assets		225,530			—
Loss on reacquisition of bonds		—			1,204
Exchange loss (gain) on financial assets and liabilities		(12,705	)		77,085
Exchange loss on long-term liabilities		—			73,380
Amortization of deferred income		(9,866	)		(7,909	)
Income and expense adjustments		10,577,237			9,685,793
Changes in operating assets and liabilities:
Financial assets and liabilities at fair value through profit or loss		(148,100	)		(203,828	)
Notes receivable and accounts receivable		2,039,066			(1,958,514	)
Other receivables		80,238			105,717
Inventories		(417,462	)		(381,433	)
Prepayments		479,637			(446,167	)
Other current assets		800,844			(1,456,482	)
Notes and accounts payable		(32,722	)		(280,293	)
Other payables		(177,072	)		(326,466	)
Other current liabilities		(316,993	)		200,297
Net defined benefit liabilities		7,226			5,303
Other liabilities-others		586			(4,209	)
Cash generated from operations		17,246,595			6,231,301
Interest received		93,767			98,916
Dividend received		113,069			143,872
Interest paid		(217,609	)		(203,641	)
Income tax paid		(366,011	)		(38,808	)
Net cash provided by operating activities		16,869,811			6,231,640

(continued)

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English Translation of Consolidated Financial Statements Originally Issued in Chinese

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the three-month periods ended March 31, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars)

	For the three-month periods ended March 31,
	2015			2014
Cash flows from investing activities:
Acquisition of financial assets at fair value through profit or loss	$	—		$	(29,900	)
Acquisition of available-for-sale financial assets		(1,897,155	)		(68,197	)
Proceeds from disposal of available-for-sale financial assets		208,591			528,724
Acquisition of financial assets measured at cost		(74,894	)		(136,323	)
Acquisition of investments accounted for under the equity method		—			(60,700	)
Proceeds from disposal of investments accounted for under the equity method		—			4,000
Increase in prepayment for investments		(90,824	)		—
Proceeds from capital reduction and liquidation of investments		9,782			—
Acquisition of subsidiaries (net of cash acquired)		414,958			—
Acquisition of property, plant and equipment		(14,892,734	)		(6,276,591	)
Proceeds from disposal of property, plant and equipment		44,214			73,489
Proceeds from disposal of non-current assets held for sale		641,866			—
Increase in refundable deposits		(79,739	)		(17,477	)
Decrease in refundable deposits		79,110			53,307
Acquisition of intangible assets		(344,092	)		(175,070	)
Increase in other assets-others		(519,349	)		(8,249	)
Decrease in other assets-others		2,304			13,016
Net cash used in investing activities		(16,497,962	)		(6,099,971	)
Cash flows from financing activities:
Increase in short-term loans		5,334,629			5,367,850
Decrease in short-term loans		(4,468,155	)		(2,567,731	)
Redemption of bonds		—			(57,180	)
Proceeds from long-term loans		3,404,410			—
Repayments of long-term loans		(2,554,183	)		(475,232	)
Increase in guarantee deposits		32,868			35,958
Decrease in guarantee deposits		(2,002	)		(2,443	)
Increase in other financial liabilities		6,107,635			—
Exercise of employee stock options		214,943			85,352
Change in non-controlling interests		84,530			8,261
Net cash provided by financing activities		8,154,675			2,394,835
Effect of exchange rate changes on cash and cash equivalents		(775,643	)		573,590
Net increase in cash and cash equivalents		7,750,881			3,100,094
Cash and cash equivalents at beginning of period		46,212,423			50,830,678
Cash and cash equivalents at end of period	$	53,963,304		$	53,930,772
Reconciliation of the balances of cash and cash equivalents at end of period:
Cash and cash equivalents balances on the consolidated balance sheets	$	53,632,056		$	53,915,155
Cash and cash equivalents included in non-current assets held for sale		331,248			15,617
Cash and cash equivalents at end of period	$	53,963,304		$	53,930,772
Investing activities partially paid by cash:
Cash paid for acquiring property, plant and equipment
Increase in property, plant and equipment	$	11,821,574		$	4,395,907
Add: Payable at beginning of period		10,742,203			6,700,743
Less: Payable at end of period		(7,671,043	)		(4,820,059	)
Cash paid	$	14,892,734		$	6,276,591

The accompanying notes are an integral part of the consolidated financial statements.

8

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

For the Three-Month Periods Ended March 31, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars unless Otherwise Specified)

1. HISTORY AND ORGANIZATION

United Microelectronics Corporation (UMC) was incorporated in Republic of China (R.O.C.) in May 1980 and commenced operations in April 1982. UMC is a full service semiconductor wafer foundry, and provides a variety of services to satisfy customer needs. UMC’s ordinary shares were publicly listed on the Taiwan Stock Exchange (TWSE) in July 1985 and its American Depositary Shares (ADSs) were listed on the New York Stock Exchange (NYSE) in September 2000.

2. DATE AND PROCEDURES OF AUTHORIZATION OF FINANCIAL STATEMENTS FOR ISSUE

The consolidated financial statements of UMC and its subsidiaries (the “Company”) were authorized for issue in accordance with a resolution of the Board of Directors’ meeting on April 29, 2015.

3. NEWLY ISSUED OR REVISED STANDARDS AND INTERPRETATIONS

A. The Company adopted the International Financial Reporting Standard (IFRS), International Accounting Standard (IAS) and Interpretations developed by the International Financial Reporting Interpretation Committee (IFRIC) issued, revised or amended by International Accounting Standard Board (IASB) which have been endorsed by Financial Supervisory Commission (FSC) and effective on January 1, 2015 (collectively referred to as “2013 edition of TIFRSs” (TIFRSs)). The effects of adopting TIFRSs on the Company’s consolidated financial statements are summarized as below:

(1) IFRS 3 “Business Combinations”

Under the amendment, IFRS 3 “Business Combinations” (IFRS 3) (as revised in 2008) does not apply to contingent consideration that arose from business combinations whose acquisition dates precede the application of IFRS 3 (as revised in 2008). Furthermore, the amendment limits the scope of the measurement choices for non-controlling interest. Only the components of non-controlling interests that are present ownership interests that entitle their holders to a proportionate share of the entity’s net assets, in the event of liquidation could be measured at either fair value or at the present ownership instruments’ proportionate share of the acquiree’s identifiable net assets. Other components of non-controlling interest are measured at their acquisition date fair value.

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The amendment also requires an entity in a business combination to account for the replacement of the acquiree’s share-based payment transactions (when the acquirer is not obliged to do so) as new share-based payment awards in the post-combination financial statements.

Outstanding share-based payment transactions that the acquirer does not exchange for its share-based payment transactions: if vested — they are part of non-controlling interest; if unvested — they are measured at market based value as if granted at acquisition date, and allocated between NCI and post-combination expense.

(2) IAS 34 “Interim Financial Reporting”

The amendment clarifies that if users of an entity’s interim financial report have access to the most recent annual financial report of that entity, it is unnecessary for the notes to an interim financial report to provide relatively insignificant updates to the information that was reported in the notes in the most recent annual financial report. Furthermore, the amendment requires additional disclosures of financial instruments and contingent liabilities/assets.

(3) IFRS 7 “Financial Instruments: Disclosures”

The amendment emphasizes the interaction between quantitative and qualitative disclosures and the nature and extent of risks associated with financial instruments so that users of financial statements will have a better understanding.

(4) IFRS 7 “Financial Instruments: Disclosures” (Amendment)

The amendment requires additional quantitative and qualitative disclosures relating to transfers of financial assets, when financial assets are derecognized in their entirety, but the entity has a continuing involvement in them, or when financial assets are not derecognized in their entirety.

(5) IFRS 10 “Consolidated Financial Statements”

IFRS 10 “Consolidated Financial Statements”(IFRS 10) replaces the portion of IAS 27 “Consolidated and Separate Financial Statements” (IAS 27) that addresses the accounting for consolidated financial statements and the former Standing Interpretations Committee (SIC)-12 “Consolidation-Special Purpose Entities”. The changes introduced by IFRS 10 primarily relate to the elimination of the perceived inconsistency between IAS 27 and SIC-12 by introducing a new integrated control model. That is, IFRS 10 primarily relates to whether to consolidate another entity, but does not change how an entity is consolidated.

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(6) IFRS 11 “Joint Arrangements”

IFRS 11 “Joint Arrangements” replaces IAS 31 “Interests in Joint Ventures” and SIC-13 “Jointly Controlled Entities-Non-Monetary Contributions by Venturers”. The changes introduced by IFRS 11 primarily relate to increase comparability within IFRSs by removing the choice for accounting for jointly controlled entities under the proportionate consolidation method, so that the structure of the arrangement is no longer the most important factor when determining the classification as a joint operation or a joint venture (an investment classified as a joint venture is accounted for in accordance with IAS 28 “Investments in Associates and Joint Ventures” (IAS 28)), which then determines the accounting.

(7) IFRS 12 “Disclosures of Interests in Other Entities”

IFRS 12 “Disclosures of Interests in Other Entities” primarily integrates and makes consistent the disclosure requirements for subsidiaries, joint arrangements, associates and unconsolidated structured entities and present those requirements in a single IFRS.

(8) IFRS 13 “Fair Value Measurement”

IFRS 13 “Fair Value Measurement” (IFRS 13) primarily relates to defining fair value, setting out in a single IFRS framework for measuring and disclosing fair values to reduce complexity and improve consistency in applying fair value measurement. However, IFRS 13 does not change existing requirements in other IFRSs as to when the fair value measurement or related disclosure is required.

(9) IAS 19 “Employee Benefits” (Revised)

The revision includes: (1)For defined benefit plans, the ability to defer the recognition of actuarial gains and losses (i.e., the corridor approach) has been removed. Actuarial gains and losses will be recognized in other comprehensive income as they occur. (2)Amounts recorded in profit or loss are limited to current and past service costs, gains or losses on settlements, and net interest income (expense) on the pension asset or liability. (3)New disclosures include quantitative information about the sensitivity of the defined benefit obligation to reasonably possible changes in each significant actuarial assumption. (4)Termination benefits will be recognized at the earlier of when the offer of termination cannot be withdrawn, or when the related restructuring costs are recognized under IAS 37 “Provisions, Contingent Liabilities and Contingent Assets”.

(10) IAS 1 “Presentation of Financial Statements”

The amendment clarifies that an entity will present an analysis of other comprehensive income for each component of equity, either in the statement of changes in equity or in the notes to the financial statements.

(11) Presentation of Items of Other Comprehensive Income (Amend IAS 1 “Presentation of Financial Statements”)

The amendments to IAS 1 change the grouping of items presented in other comprehensive income. Items that would be reclassified (or recycled) to profit or loss at certain points in the future would be presented separately from items that will never be reclassified.

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(12) IAS 34 “Interim Financial Reporting”

The amendment clarifies the requirements in IAS 34 relating to segment information for total assets and liabilities for each reportable segment to enhance consistency with the requirements in IFRS 8 “Operating Segments”. Besides, total assets and liabilities for a particular reportable segment need to be disclosed only when the amounts are regularly provided to the chief operating decision maker and there has been a material change in the total amount disclosed in the entity’s previous annual financial statements for that reportable segment.

(13) IFRS 10 “Consolidated Financial Statements” (Amendment)

The amendments related to Investment Entities provide an exception to the consolidation requirements in IFRS 10 and require investment entities to account for particular subsidiaries at fair value through profit or loss, rather than consolidating them. The amendments also set out disclosure requirements for investment entities.

The Company has evaluated the impact of the aforementioned standards and interpretations listed (1) ~ (13) to the Company’s financial position and performance and determined that there is no material impact. The Company has made necessary disclosures in accordance with the aforementioned standards and interpretations.

B. Standards issued by IASB but not yet endorsed by FSC (the effective dates are to be determined by FSC):

No.	The projects of Standards or Interpretations	Effective for annual periods beginning on or after
IAS 36	Impairment of Assets	January 1, 2014
IFRIC 21	Levies	January 1, 2014
IAS 39	Novation of Derivatives and Continuation of Hedge Accounting	January 1, 2014
IAS 19	Defined Benefit Plans: Employee Contributions	July 1, 2014
	Improvements to International Financial Reporting Standards (2010-2012 cycle)
IFRS 2	Share-based Payment	July 1, 2014
IFRS 3	Business Combinations	July 1, 2014
IFRS 8	Operating Segments	July 1, 2014
IFRS 13	Fair Value Measurement	—
IAS 16	Property, Plant and Equipment	July 1, 2014
IAS 24	Related Party Disclosures	July 1, 2014
IAS 38	Intangible Assets	July 1, 2014
	Improvements to International Financial Reporting Standards (2011-2013 cycle)

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No.	The projects of Standards or Interpretations	Effective for annual periods beginning on or after
IFRS 1	First-time Adoption of International Financial Reporting Standards	—
IFRS 3	Business Combinations	July 1, 2014
IFRS 13	Fair Value Measurement	July 1, 2014
IAS 40	Investment Property	July 1, 2014
IFRS 14	Regulatory Deferral Accounts	January 1, 2016
IFRS 11	Accounting for Acquisitions of Interests in Joint Operations	January 1, 2016
IAS 16 and IAS 38	Clarification of Acceptable Methods of Depreciation and Amortization	January 1, 2016
IFRS 15	Revenue from Contracts with Customers	January 1, 2017
IAS 16 and IAS 41	Agriculture: Bearer Plants	January 1, 2016
IFRS 9	Financial Instruments	January 1, 2018
IAS 27	Equity Method in Separate Financial Statements	January 1, 2016
IFRS 10 and IAS 28	Sale or Contribution of Assets between an Investor and its Associate or Joint Venture	January 1, 2016
	Improvements to International Financial Reporting Standards (2012—2014 cycle)
IFRS 5	Non-current Assets Held for Sale and Discontinued Operations	January 1, 2016
IFRS 7	Financial Instruments: Disclosures	January 1, 2016
IAS 19	Employee Benefits	January 1, 2016
IAS 34	Interim Financial Reporting	January 1, 2016
IAS 1	Disclosure Initiative	January 1, 2016
IFRS 10, IFRS 12 and IAS 28	Investment Entities: Applying the Consolidation Exception	January 1, 2016

The potential effects of adopting the standards or interpretations issued by IASB but not yet endorsed by FSC on the Company’s financial statements in future periods are summarized as below:

(14) IAS 36 “Impairment of Assets” (Amendment)

This amendment relates to the amendment issued in May 2011 and requires entities to disclose the recoverable amount of an asset (including goodwill) or a cash-generating unit (CGU) when an impairment loss has been recognized or reversed during the period. The amendment also requires detailed disclosure of how the fair value less costs of disposal has been determined when an impairment loss has been recognized or reversed, including valuation techniques used, level of fair value hierarchy of assets and key assumptions used in the measurements. The amendment is effective for annual periods beginning on or after January 1, 2014.

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(15) IFRIC 21 “Levies”

This interpretation provides guidance on when to recognize a liability for a levy imposed by a government (both for levies that are accounted for in accordance with IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” and those where the timing and amount of the levy is certain). The interpretation is effective for annual periods beginning on or after January 1, 2014.

(16) IAS 39 “Financial Instruments: Recognition and Measurement” (Amendment)—Novation of Derivatives and Continuation of Hedge Accounting

Under the amendment, there would be no need to discontinue hedge accounting if a hedging derivative was novated, provided certain criteria are met. The interpretation is effective for annual periods beginning on or after January 1, 2014.

(17) IFRS 8 “Operating Segments”

The amendments require an entity to disclose the judgments made by management in applying the aggregation criteria to operating segments. The amendments also clarify that an entity shall only provide reconciliations of the total of the reportable segments’ assets to the entity’s assets if the segment assets are reported regularly to the Chief Operating Decision Maker (CODM). The amendment is effective for annual periods beginning on or after July 1, 2014.

(18) IFRS 13 “Fair Value Measurement”

The amendment to the Basis for Conclusions of IFRS 13 clarifies that when deleting paragraph B5.4.12 of IFRS 9 Financial Instruments and paragraph AG79 of IAS 39 Financial Instruments: Recognition and Measurement as consequential amendments from IFRS 13 Fair Value Measurement, the IASB did not intend to change the measurement requirements for short-term receivables and payables.

(19) IAS 24 “Related Party Disclosures”

The amendment clarifies that an entity providing key management personnel services to the reporting entity or to the parent of the reporting entity is a related party of the reporting entity. The amendment is effective for annual periods beginning on or after July 1, 2014.

(20) IFRS 13 “Fair Value Measurement”

The amendment clarifies that paragraph 52 of IFRS 13 includes a scope exception for measuring the fair value of a group of financial assets and financial liabilities on a net basis. The objective of this amendment is to clarify that this portfolio exception applies to all contracts within the scope of IAS 39 Financial Instruments: Recognition and Measurement or IFRS 9 Financial Instruments, regardless of whether they meet the definitions of financial assets or financial liabilities as defined in IAS 32 Financial Instruments: Presentation. The amendment is effective for annual periods beginning on or after July 1, 2014.

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(21) IFRS 11 “Accounting for Acquisitions of Interests in Joint Operations” (Amendment)

The amendments to IFRS 11 require that the relevant principles on business combinations accounting in IFRS 3 and other standards should be applied in accounting for the acquisition of an interest in a joint operation in which the activity constitutes a business. The amendments are applicable to both the acquisition of the initial interest in a joint operation with an existing business and the acquisition of an additional interest in the same joint operation. However, a previously held interest is not remeasured when the acquisition of an additional interest in the same joint operation results in retaining joint control. Transactions between an investor and a joint operation under common control are also excluded. The amendment is effective for annual periods beginning on or after January 1, 2016 with earlier application permitted. The impact that adoption of the new amendment will have on our financial position and results of operation will be dependent upon the specific terms of any applicable future acquisition of joint arrangements.

(22) IAS 16 and IAS 38 “Clarification of Acceptable Methods of Depreciation and Amortisation” (Amendment)

The amendment to IAS 16, “Property, Plant and Equipment” (IAS 16) clarifies that depreciation of an item of property, plant and equipment based on revenue generated by using the asset is not appropriate. The amendment to IAS 38, “Intangible Assets” establishes a rebuttable presumption that amortization of an intangible asset based on revenue generated by using the asset is inappropriate. The presumption may only be rebutted in certain limited circumstances where the intangible asset is expressed as a measure of revenue; or where it can be demonstrated that revenue and the consumption of the economic benefits of the intangible asset are highly correlated. The amendment is effective for annual periods beginning on or after January 1, 2016 with earlier application permitted.

(23) IFRS 15 “Revenue from Contracts with Customers”

The core principle of IFRS 15 is that revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 establishes a five-step model that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue transaction or the industry. Extensive disclosures will be required, including disaggregation of total revenue; information related to performance obligations; changes in contract asset and liability account balances between periods and key judgments and estimates. The standard will apply to annual periods beginning on or after January 1, 2017 with early adoption is permitted.

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(24) IFRS 9 “Financial Instruments”

The IASB has issued the final version of IFRS 9, which combines classification and measurement, the expected credit loss impairment model and hedge accounting. The standard will replace IAS 39 Financial Instruments: Recognition and Measurement and all previous versions of IFRS 9 which introduced new classification and measurement requirements (in 2009 and 2010) and a new hedge accounting model (in 2013). The final completed version of IFRS 9 requires the followings: (1) Classification and measurement: Financial assets are measured at amortized cost, fair value through profit or loss, or fair value through other comprehensive income, based on both the entity’s business model for managing the financial assets and the financial asset’s contractual cash flow characteristics. Financial liabilities are measured at amortized cost or fair value through profit or loss. Furthermore there is requirement that “own credit risk” adjustments are not recognized in profit or loss. (2) Impairment: Expected credit loss model is used to evaluate impairment. Entities are required to recognize either 12-month or lifetime expected credit losses, depending on whether there has been a significant increase in credit risk since initial recognition. (3) Hedge accounting: Hedge accounting is more closely aligned with risk management activities and hedge effectiveness is measured based on the hedge ratio. The new standard is effective for annual periods beginning on or after January 1, 2018.

(25) IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures”—Sale or Contribution of Assets between an Investor and its Associate or Joint Ventures (Amendment)

The amendments address the inconsistency between the requirements in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures, in dealing with the loss of control of a subsidiary that is contributed to an associate or a joint venture. IAS 28 restricts gains and losses arising from contributions of non-monetary assets to an associate or a joint venture to the extent of the interest attributable to the other equity holders in the associate or joint ventures. IFRS 10 requires full profit or loss recognition on the loss of control of the subsidiary. IAS 28 was amended so that the gain or loss resulting from the sale or contribution of assets that constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized in full. IFRS 10 was also amended so that the gains or loss resulting from the sale or contribution of a subsidiary that does not constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized only to the extent of the unrelated investors’ interests in the associate or joint venture. The amendment is effective for annual periods beginning on or after January 1, 2016.

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(26) IAS 1 “Presentation of Financial Statements”—“Disclosure Initiative” (Amendment):

The amendments (1) clarify that an entity must not reduce the understandability of its financial statements by obscuring material information with immaterial information or by aggregating material items that have different natures or functions. The amendments reemphasize that, when a standard requires a specific disclosure, the information must be assessed to determine whether it is material and, consequently, whether presentation or disclosure of that information is warranted, (2) clarify that specific line items in the statement(s) of profit or loss and OCI and the statement of financial position may be disaggregated, and how an entity shall present additional subtotals, (3) clarify that entities have flexibility as to the order in which they present the notes to financial statements, but also emphasize that understandability and comparability should be considered by an entity when deciding on that order, (4) removing the examples of the income taxes accounting policy and the foreign currency accounting policy, as these were considered unhelpful in illustrating what significant accounting policies could be, and (5) clarify that the share of OCI of associates and joint ventures accounted for using the equity method must be presented in aggregate as a single line item, classified between those items that will or will not be subsequently reclassified to profit or loss. The amendment is effective for annual periods beginning on or after January 1, 2016.

The Company is currently evaluating the potential impact of the aforementioned standards and interpretations listed (14) ~ (26) to the Company’s financial position and performance, and the related impact will be disclosed when the evaluation is completed.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Statement of Compliance

The Company’s consolidated financial statements were prepared in accordance with Regulations Governing the Preparation of Financial Reports by Securities Issuers (Regulations), IFRSs, IASs, IFRIC and SIC, which are endorsed by FSC, and IAS34.

(2) Basis of Preparation

The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments measured at fair value.

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(3) General Description of Reporting Entity

a. Principles of consolidation

Subsidiaries are fully consolidated from the date of acquisition (the date on which the Company obtains control), and continue to be consolidated until the date that such control ceases. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group balances, transactions, unrealized gains and losses and dividends resulting from intra-group transactions are eliminated in full.

A change in the ownership interest of a subsidiary, without a change of control, is accounted for as an equity transaction. Total comprehensive income of subsidiaries is attributed to the stockholders of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

If the Company loses control over a subsidiary, the Company derecognizes the assets and liabilities of the subsidiary, as well as any non-controlling interests previously recorded by the Company. A gain or loss is recognized in profit or loss and is calculated as the difference between: (a) the aggregate of the fair value of consideration received and the fair value of any retained interest at the date when control is lost; and (b) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling interests. Any gain or loss previously recognized in the other comprehensive income would be reclassified to profit or loss or transferred directly to retained earnings if required by other TIFRSs. The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the cost on initial recognition of an investment.

b. The consolidated entities are as follows:

As of March 31, 2015, December 31, 2014 and March 31, 2014

			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
UMC	UMC GROUP (USA)	IC Sales		100.00		100.00		100.00
UMC	UNITED MICROELECTRONICS (EUROPE) B.V.	Marketing support activities		100.00		100.00		100.00

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			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
UMC	UMC CAPITAL CORP.	Investment holding		100.00		100.00		100.00
UMC	GREEN EARTH LIMITED (GE)	Investment holding		100.00		100.00		100.00
UMC	TLC CAPITAL CO., LTD. (TLC)	New business investment		100.00		100.00		100.00
UMC	UMC NEW BUSINESS INVESTMENT CORP. (NBI)	Investment holding		100.00		100.00		100.00
UMC	UMC INVESTMENT (SAMOA) LIMITED	Investment holding		100.00		100.00		100.00
UMC	FORTUNE VENTURE CAPITAL CORP. (FORTUNE)	Consulting and planning for investment in new business		100.00		100.00		100.00
UMC	UMC GROUP JAPAN	IC Sales		100.00		100.00		100.00
UMC	UMC KOREA CO., LTD.	Marketing support activities		100.00		100.00		100.00
UMC	OMNI GLOBAL LIMITED (OMNI)	Investment holding		100.00		100.00		100.00
UMC	BEST ELITE INTERNATIONAL LIMITED (BE)	Investment holding		86.88		86.88		86.88
UMC	WAVETEK MICROELECTRONICS CORPORATION (WAVETEK)	GaAs Foundry service		82.52		81.53		81.53
UMC	NEXPOWER TECHNOLOGY CORP. (NEXPOWER)	Sales and manufacturing of solar power batteries		44.16		44.16		44.16
FORTUNE	UNITRUTH INVESTMENT CORP. (UNITRUTH)	Investment holding		100.00		100.00		100.00
FORTUNE	TOPCELL SOLAR INTERNATIONAL CO., LTD. (TOPCELL)	Sales and manufacturing of solar power cell		26.04		26.04		26.04

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			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
FORTUNE	NEXPOWER	Sales and manufacturing of solar power batteries		5.99		5.99		5.99
FORTUNE	ALLIANCE OPTOTEK CORP. (ALLIANCE)	Design and manufacturing of LED		—		—		21.77
UNITRUTH	NEXPOWER	Sales and manufacturing of solar power batteries		2.25		2.25		2.25
UNITRUTH	TOPCELL	Sales and manufacturing of solar power cell		1.03		1.03		1.03
UNITRUTH	ALLIANCE	Design and manufacturing of LED		—		—		6.86
UMC CAPITAL CORP.	UMC CAPITAL (USA)	Investment holding		100.00		100.00		100.00
UMC CAPITAL CORP.	ECP VITA PTE. LTD.	Insurance		100.00		100.00		100.00
TLC	SOARING CAPITAL CORP.	Investment holding		100.00		100.00		100.00
TLC	NEXPOWER	Sales and manufacturing of solar power batteries		5.87		5.87		5.87
TLC	TOPCELL	Sales and manufacturing of solar power cell		2.37		2.37		2.37
TLC	ALLIANCE	Design and manufacturing of LED		—		—		45.88
SOARING CAPITAL CORP.	UNITRUTH ADVISOR (SHANGHAI) CO., LTD.	Investment holding and advisory		100.00		100.00		100.00

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			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
GE	UNITED MICROCHIP CORPORATION	Investment holding		100.00		—		—
UMC INVESTMENT (SAMOA) LIMITED	UMC (BEIJING) LIMITED	Marketing support activities		100.00		100.00		100.00
NBI	TERA ENERGY DEVELOPMENT CO., LTD. (TERA ENERGY)	Energy Technical Services		100.00		100.00		100.00
NBI	UNISTARS CORP.	High brightness LED packages		78.72		78.72		78.02
NBI	TOPCELL	Sales and manufacturing of solar power cell		62.38		62.38		62.38
NBI	EVERRICH ENERGY CORP. (EVERRICH)	Solar engineering integrated design services		—		—		100.00
EVERRICH	EVERRICH ENERGY INVESTMENT (HK) LIMITED (EVERRICH-HK)	Investment holding		—		—		100.00
EVERRICH	SMART ENERGY ENTERPRISES LIMITED (SMART ENERGY)	Investment holding		—		—		100.00
TERA ENERGY	TERA ENERGY USA INC.	Solar project		100.00		100.00		100.00
TERA ENERGY	EVERRICH-HK	Investment holding		100.00		100.00		—
TERA ENERGY	SMART ENERGY	Investment holding		100.00		100.00		—
EVERRICH-HK	EVERRICH (SHANDONG) ENERGY CO., LTD.	Solar engineering integrated design services		100.00		100.00		100.00
SMART ENERGY	SMART ENERGY SHANDONG CORPORATION	Solar engineering integrated design services		—		—		100.00

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			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
OMNI	UNITED MICROTECHNOLOGY CORPORATION (NEW YORK)	Research and development		100.00		100.00		100.00
OMNI	UNITED MICROTECHNOLOGY CORPORATION (CALIFORNIA)	Research and development		100.00		100.00		—
WAVETEK	WAVETEK MICROELECTRONICS INVESTMENT (SAMOA) LIMITED (WAVETEK-SAMOA)	Investment holding		100.00		100.00		100.00
WAVETEK	WAVETEK MICROELECTRONICS INVESTMENT (HK) LIMITED	Investment holding		—		—		100.00
WAVETEK- SAMOA	WAVETEK MICROELECTRONICS CORPORATION (USA)	Sales and marketing service		100.00		100.00		100.00
NEXPOWER	NPT HOLDING LIMITED	Investment holding		100.00		100.00		100.00
NEXPOWER	SOCIALNEX ITALIA 1 S.R.L.	Photovoltaic power plant		100.00		100.00		100.00
NPT HOLDING LIMITED	NLL HOLDING LIMITED	Investment holding		100.00		100.00		100.00
BE	INFOSHINE TECHNOLOGY LIMITED (INFOSHINE)	Investment holding		100.00		100.00		100.00
INFOSHINE	OAKWOOD ASSOCIATES LIMITED (OAKWOOD)	Investment holding		100.00		100.00		100.00
OAKWOOD	HEJIAN TECHNOLOGY (SUZHOU) CO., LTD. (HEJIAN)	Sales and manufacturing of integrated circuits		100.00		100.00		100.00

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			Percentage of ownership (%) as of
Investor	Subsidiary	Business nature	March 31, 2015		December 31, 2014		March 31, 2014
HEJIAN	UNITEDDS SEMICONDUCTOR (SHANDONG) CO., LTD.	Integrated circuits design services		100.00		100.00		100.00
HEJIAN	UNITED SEMICONDUCTOR (XIAMEN) CO., LTD. (Note A)	Sales and manufacturing of integrated circuits		33.33		—		—
ALLIANCE	LIGHT HOUSE GLOBAL INCORP. (LIGHT HOUSE)	Investment holding		—		—		100.00
LIGHT HOUSE	ALLIANCE OPTOTEK DONGGUAN CO., LTD.	LED lighting manufacturing and sale		—		—		100.00

Note A: In reference to UMC’s 3-way agreement with Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP described in Note 9(4), the Company invested RMB 0.6 billion in United Semiconductor (XIAMEN) CO., LTD. and acquired control of the Board of Directors in January 2015. Since the Company obtained control over United Semiconductor (XIAMEN) CO., LTD., it was included as a consolidated entity.

(4) Business Combinations and Goodwill

Business combinations are accounted for using the acquisition method. The consideration transferred, the identifiable assets acquired and liabilities assumed are measured at the acquisition date fair value. For the components of non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation, the acquirer measures at either fair value or at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and are classified under administrative expenses.

When the Company acquires a business, it assesses the assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts held by the acquiree.

If the business combination is achieved in stages, the acquisition date fair value of the acquirer’s previously held equity interest in the acquiree is remeasured at fair value as at the acquisition date through profit or loss.

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Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability, will be recognized in accordance with IAS 39, either in profit or loss or other comprehensive income. If the contingent consideration is classified as equity, it should not be remeasured until it is finally settled within equity.

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interest over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the difference is recognized as a gain on bargain purchase.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each CGU that is expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Each unit or groups of units to which the goodwill is so allocated represents the lowest level within the Company at which the goodwill is monitored for internal management purposes and cannot be larger than an operating segment before aggregation.

Where goodwill forms part of a CGU and part of the operation within that unit is disposed, the goodwill associated with the operation disposed is included in the carrying amount of the operation. Goodwill disposed in these circumstance is measured based on the relative values of the operation disposed and the portion of the CGU retained.

(5) Foreign Currency Transactions

The Company’s consolidated financial statements are presented in New Taiwan Dollars (NTD), which is also the parent company’s functional currency. Each entity in the Company determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency.

Transactions in foreign currencies are initially recorded by the Company’s entities at their respective functional currency rates prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency closing rates of exchange at the reporting date. Non-monetary items measured at fair value in foreign currencies are translated using the exchange rates at the date when the fair value is determined. Non-monetary items that are measured at historical cost in foreign currencies are translated using the exchange rates as at the dates of the initial transactions.

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All exchange differences arising on the settlement of monetary items or on translating monetary items are taken to profit or loss in the period in which they arise except for the following:

a. Exchange differences arising from foreign currency borrowings for an acquisition of a qualifying asset to the extent that they are regarded as an adjustment to interest costs are included in the borrowing costs that are eligible for capitalization.

b. Foreign currency derivatives within the scope of IAS 39 are accounted for based on the accounting policy for financial instruments.

c. Exchange differences arising on a monetary item that is part of a reporting entity’s net investment in a foreign operation are recognized initially in other comprehensive income and reclassified from equity to profit or loss upon disposal of such investment.

When a gain or loss on a non-monetary item is recognized in other comprehensive income, any exchange component of that gain or loss is recognized in other comprehensive income. When a gain or loss on a non-monetary item is recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss.

(6) Translation of Foreign Currency Financial Statements

The assets and liabilities of foreign operations are translated into NTD at the closing rate of exchange prevailing at the reporting date and their income and expenses are translated at an average exchange rate for the period. The exchange differences arising on the translation are recognized in other comprehensive income. On disposal of a foreign operation, the cumulative amount of the exchange differences relating to that foreign operation, recognized in other comprehensive income and accumulated in the separate component of equity, is reclassified from equity to profit or loss when the gain or loss on disposal is recognized.

On partial disposal of a subsidiary that includes a foreign operation that does not result in a loss of control, the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is re-attributed to the non-controlling interests in that foreign operation. On partial disposal of an associate or a joint venture that includes a foreign operation that does not result in a loss of significant influence or joint control, only the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is reclassified to profit or loss.

Any goodwill and any fair value adjustments to the carrying amounts of assets and liabilities arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and expressed in its functional currency.

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(7) Current and Non-Current Distinction

An asset is classified as current when:

a. the Company expects to realize the asset, or intends to sell or consume it, in its normal operating cycle;

b. the Company holds the asset primarily for the purpose of trading;

c. the Company expects to realize the asset within twelve months after the reporting period; or

d. the asset is cash or a cash equivalent unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

A liability is classified as a current when:

a. the Company expects to settle the liability in normal operating cycle;

b. the Company holds the liability primarily for the purpose of trading;

c. the liability is due to be settled within twelve months after the reporting period; or

d. the Company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

All other liabilities are classified as non-current.

(8) Cash Equivalents

Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and with maturity dates that do not present significant risks on changes in value resulting from changes in interest rates, including time deposits with original maturities of three months or less and repurchase agreements collateralized by government bonds and corporate bonds.

(9) Financial Instruments

Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument.

The Company determines the classification of its financial assets at initial recognition. In accordance with IAS 39 and the Regulations, financial assets of the Company are classified as financial assets at fair value through profit or loss, available-for-sale financial assets, held-to-maturity financial assets and notes, accounts and other receivables.

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Purchase or sale of financial assets and liabilities are recognized using trade date accounting. All financial assets are recognized initially at fair value plus, in the case of investments not at fair value through profit or loss, directly attributable costs. Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in the income statement.

Financial Assets

a. Classification and subsequent measurement

i. Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are comprised of financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss.

Financial assets acquired for the purpose of selling or repurchasing in the near term, and derivative financial instruments that are not designated as hedging instruments in hedge accounting are classified as financial assets at fair value through profit or loss. Financial assets at fair value through profit or loss are measured at fair value with changes in fair value recognized in profit or loss.

ii. Available-for-sale financial assets

Available-for-sale investments are those non-derivative financial assets that are designated as available-for-sale or are not classified as financial assets at fair value through profit or loss, held-to-maturity financial assets, or loans and receivables. Available-for-sale financial investments are subsequently measured at fair value. Other than impairment losses and foreign exchange gains and losses arising from monetary financial assets which are recognized in profit or loss, subsequent measurement of available-for-sale equity instrument financial assets are recognized in other comprehensive income until the investment is derecognized, at which time the cumulative gain or loss is recognized in profit or loss.

If equity instrument investments do not have quoted prices in an active market and their fair value cannot be reliably measured, then they are classified as financial assets measured at cost on the balance sheet.

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iii. Held-to-maturity financial assets

Non-derivative financial assets with fixed or determinable payments and fixed maturities are classified as held-to-maturity when the Company has positive intention and ability to hold them to maturity.

After initial measurement held-to-maturity financial assets are measured at amortized cost using the effective interest rate (EIR) method, less impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or transaction costs. The EIR method amortization and impairment, if any, is recognized in profit or loss.

iv. Notes, accounts and other receivables

Notes and accounts receivable are creditors’ rights as a result of sales of goods or services. Other receivables are any receivable not classified as notes and accounts receivable. Notes, accounts and other receivables are initially measured and recognized at their fair values and subsequently measured at amortized cost using the EIR method, less impairment. If the effect of discounting is immaterial, the short term notes, accounts and other receivables are measured at their nominal amount.

b. Derecognition of financial assets

A financial asset is derecognized when:

i. the contractual rights to receive cash flows from the asset have expired;

ii. the Company has transferred assets and substantially all the risks and rewards of the asset have been transferred; or

iii. the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

On derecognition of a financial asset in its entirety, the difference between the carrying amount and the consideration received or to be received including any cumulative gain or loss that had been recognized in other comprehensive income is recognized in profit or loss.

If the transferred asset is part of a larger financial asset and the part transferred qualifies for derecognition in its entirety, the Company allocates the previous carrying amount of the larger financial asset between the part that continues to be recognized and the part that is derecognized, based on the relative fair values of those parts on the date of the transfer. The difference between the carrying amount allocated to the part derecognized and the sum of the consideration received for the part derecognized and any cumulative gain or loss allocated that had been recognized in other comprehensive income, is recognized in profit or loss. A cumulative gain or loss that had been recognized in other comprehensive income is allocated between the part that continues to be recognized and the part that is derecognized, based on the relative fair values of those parts.

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c. Impairment policy

The carrying amount of a financial asset is reduced as a result of impairment, except for accounts receivable for which the carrying amount is reduced through use of an allowance account. When an account receivable is deemed to be uncollectible, it is written off from the allowance account.

i. Notes, accounts and other receivables

The Company first assesses at each reporting date whether objective evidence of impairment exists for notes, accounts and other receivables that are individually significant. If there is objective evidence that an impairment loss has occurred, the amount of impairment loss is assessed individually. For notes, accounts and other receivables other than those mentioned above, the Company groups those assets with similar credit risk characteristics and collectively assess them for impairment. If, in a subsequent period, the amount of the impairment loss decreases, and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed and recognized through profit or loss. The reversal shall not result in a carrying amount of notes, accounts and other receivables that exceeds what the amortized cost would have been had the impairment not been recognized at the date the impairment is reversed.

ii Other financial assets

The Company assesses, at each reporting date, whether there is objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more loss events that has occurred since the initial recognition of the asset (an incurred “loss event”) and that loss event has an impact on the estimated future cash flows of the individual financial asset or a group of financial assets.

For the financial assets carried at amortized cost, the amount of the impairment loss is measured as the difference between the carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. For equity investments classified as available-for-sale, objective evidence of an impairment would include a significant or prolonged decline in the fair value of the investment below its cost. When there is objective evidence of an impairment for available-for-sale equity securities, the full amount of the losses previously recognized in other comprehensive income is reclassified to profit or loss. Impairment losses recognized on equity investments cannot be reversed through profit or loss. Any subsequent increases in their fair value after impairment are recognized in other comprehensive income.

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Financial Liabilities

a. Classification and subsequent measurement

The Company classifies the instrument issued as a financial liability or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument.

i. Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Gains or losses on the subsequent measurement of liabilities held for trading including interest paid are recognized in profit or loss.

ii. Financial liabilities carried at amortized cost

Financial liabilities measured at amortized cost include interest bearing loans and borrowings that are subsequently measured using the EIR method after initial recognition. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR method amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or transaction costs.

b. Derecognition of financial liabilities

A financial liability is derecognised when the obligation under the liability is discharged, cancelled or expires.

When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified (whether or not attributable to the financial difficulty of the debtor), such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss.

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(10) Inventories

Inventories are accounted for on a perpetual basis. Raw materials are stated at actual purchase costs, while the work in process and finished goods are stated at standard costs and subsequently adjusted to weighted-average costs at the end of each month. The cost of work in progress and finished goods comprises raw materials, direct labor, other direct costs and related production overheads. Allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Cost associated with underutilized capacity is expensed as incurred. Inventories are valued at the lower of cost and net realizable value item by item. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

(11) Non-current Assets Held for Sale (Disposal Group)

Non-current assets (disposal group) are classified as held for sale if they are available for immediate sale in their present condition subject only to terms that are usual and customary for sales of such assets (disposal group) and that are highly probable to complete the sale within one year from the date of classification. Non-current assets (disposal group) classified as held for sale are measured at the lower of their carrying amounts and fair values less costs to sell. Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized.

Impairment losses of non-current assets held for sale (disposal group) are recognized in the income statement in the current period for the excess of the carrying amounts over fair values less costs to sell. Any subsequent increase in fair value less cost to sell an asset up to the cumulative impairment loss previously recognized in accordance with the IAS 36, “Impairment of Assets” (IAS 36) would be recognized as a gain.

(12) Investments Accounted For Under the Equity Method

The Company’s investments in associates and joint ventures are accounted for using the equity method other than those that meet the criteria to be classified as non-current assets held for sale.

An associate is an entity over which the Company has significant influence and that is neither a subsidiary nor a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of an entity, but is not control or joint control over those policies.

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A joint venture is a type of joint arrangement whereby the Company that has joint control of the arrangement has rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement where no single party controls the arrangement on its own, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control.

Any difference between the acquisition cost and the Company’s share of the net fair value of the identifiable assets and liabilities of associates and joint ventures is accounted for as follows:

a. Any excess of the acquisition cost over the Company’s share of the net fair value of the identifiable assets and liabilities of an associate or a joint venture at the date of acquisition is recognized as goodwill and is included in the carrying amount of the investment. Amortization of goodwill is not permitted.

b. Any excess of the Company’s share of the net fair value of the identifiable assets and liabilities of an associate or a joint venture over the acquisition cost, after reassessing the fair value, is recognized as a gain in profit or loss on the acquisition date.

Under the equity method, the investments in associates and joint ventures are carried on the balance sheet at cost plus post acquisition changes in the Company’s share of profit or loss and other comprehensive income of associates and joint ventures. The Company’s share of changes in associates’ and joint ventures’ profit or loss and other comprehensive income are recognized directly in profit or loss and other comprehensive income, respectively, of the Company. Distributions received from an associate or a joint venture reduce the carrying amount of the investment. Any unrealized gains and losses resulting from transactions between the Company and the associate or the joint venture are eliminated to the extent of the Company’s interest in the associate or the joint venture.

Financial statements of associates and joint ventures are prepared for the same reporting period as the Company. Where necessary, adjustments are made to bring the accounting policies in line with those of the Company.

Upon an associate’s issuance of new shares, if the Company takes up more shares than its original proportionate holding while maintaining its significant influence over that associate, such increase would be accounted for as an acquisition of an additional equity interest in the associate. Upon an associate’s issuance of new shares, if the Company does not take up proportionate shares and reduces its shareholding percentage while maintaining its significant influence over that associate, a proportionate share of the gain or loss previously recognized in other comprehensive income is reclassified to profit and loss. Any remaining differences will be charged to additional paid-in capital. When a change in equity of an associate is not resulted from its profit or loss or other comprehensive income, and such changes do not affect the Company’s ownership percentage, the Company recognizes its proportionate share of all related changes in equity. Accordingly, upon disposal of the associate, the Company reclassifies the aforementioned additional paid-in capital to profit or loss on a pro rata basis.

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The Company ceases to use the equity method upon loss of significant influence over an associate. Any difference between the carrying amount of the investment in an associate upon loss of significant influence and the fair value of the retained investment plus proceeds from disposal will be recognized in profit or loss. If an investment in an associate becomes an investment in a joint venture or an investment in a joint venture becomes an investment in an associate, the Company continues to apply the equity method and does not remeasure the retained interest.

The Company determines at each reporting date whether there is any objective evidence that the investments in associates and joint ventures are impaired. An impairment loss, being the difference between the recoverable amount of the associate and joint venture and its carrying value, is recognized in profit or loss in the statement of comprehensive income and forms part of the carrying amount of the investments.

(13) Property, Plant and Equipment

Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any, and any borrowing costs incurred for long-term construction projects are capitalized if the recognition criteria are met. Significant renewals, improvements and major inspections meeting the recognition criteria are treated as capital expenditures, and the carrying amounts of those replaced parts are derecognized. Maintenance and repairs are recognized in profit or loss as incurred. Any gain or loss arising from derecognition of the assets is recognized in other operating income and expenses.

Depreciation is calculated on a straight-line basis over the estimated economic lives. A significant part of an item of property, plant and equipment which has a different useful life from the remainder of the item is depreciated separately.

The depreciation methods, useful lives and residual values for the assets are reviewed at each fiscal year end, and the differences resulted from the previous estimation are recorded as changes in accounting estimates.

Except for land, which is not depreciated, the estimated economic lives of the assets are as follows:

Buildings	20~56 years
Machinery and equipment	3~11 years
Transportation equipment	5~7 years
Furniture and fixtures	1~9 years
Leasehold improvement	The shorter of lease terms or economic useful lives

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(14) Intangible Assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any. Internally generated intangible assets which fail to meet the recognition criteria are not capitalized and the expenditures are reflected in profit or loss in the period incurred.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible assets may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each fiscal year. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and is treated as changes in accounting estimates.

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the CGU level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis.

Gains or losses arising from derecognition of an intangible asset are recognized in other operating income and expenses.

Accounting policies of the Company’s intangible assets are summarized as follows:

a. Goodwill arising from business combination is not amortized, and is tested for impairment annually or more frequently if events or changes in circumstances suggest that the carrying amount may not be recoverable. If an event occurs or circumstances change which indicates that the goodwill is impaired, an impairment loss is recognized. Goodwill impairment losses cannot be reversed once recognized.

b. Software is amortized over 1~6 years on a straight-line basis.

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c. Patent and technology license fee: Upon signing of contract and obtaining the right to intellectual property, any portion attributable to non-cancellable and mutually agreed future fixed license fees for patent and technology is discounted, and recognized as an intangible asset and related liability. The cost of the intangible asset is not revalued once determined on initial recognition, and is depreciated over the economic life (5~10 years) on a straight-line basis. Interest expenses from the related liability are recognized and calculated based on the EIR method. Based on the timing of payments, the liability is classified as current and non-current.

d. Others are mainly the intellectual property license fees, amortized over the shorter of the contract term or estimated economic life (3 years) of the related technology on a straight-line basis.

(15) Impairment of Non-Financial Assets

The Company assesses at each reporting date whether there is an indication that an asset in the scope of IAS 36 may be impaired. If any indication exists, the Company completes impairment testing for the CGU to which the individual assets belong. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. The recoverable amount of an individual asset or a CGU is the higher of its fair value less costs to sell and its value in use. If circumstances indicate that previously recognized impairment losses may no longer exist or may have decreased at each reporting date, the Company re-assesses the asset’s or CGU’s recoverable amount. A previously recognized impairment loss is reversed only if there has been an increase in the estimated service potential of an asset which in turn increases the recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for the asset in prior years.

A CGU, or group of CGU, to which goodwill has been allocated is tested for impairment annually at the same time every year, irrespective of whether there is any indication of impairment. Where the carrying amount of a CGU (including the carrying amount of goodwill) exceeds its recoverable amount, the CGU is considered impaired. If an impairment loss is to be recognized, it is first allocated to reduce the carrying amount of any goodwill allocated to the CGU (group of units), then to the other assets of the unit (group of units) pro rata on the basis of the carrying amount of each asset in the unit (group of units). Impairment losses relating to goodwill cannot be reversed in future periods.

The recognition or reversal of impairment losses is classified as other operating income and expenses.

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(16) Bonds

Convertible bonds

UMC evaluates the terms of the convertible bonds issued to determine whether it contains both a liability and an equity component. Furthermore, UMC assesses if the economic characteristics and risks of the put and call options embedded in the convertible bonds are closely related to the economic characteristics and risk of the host contract before separating the equity element.

For the liability component excluding the derivatives, its fair value is determined based on the effective interest rate applied at that time by the market to instruments of comparable credit status. The liability component is classified as a financial liability measured at amortized cost using the EIR method before the instrument is converted or settled. For the embedded derivative that is not closely related to the host contract, it is classified as a liability component and subsequently measured at fair value through profit or loss unless it qualifies as an equity component. The equity component is recognized initially at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Its carrying amount is not remeasured in the subsequent accounting periods. If the convertible bond issued does not have an equity component, it is accounted for as a hybrid instrument in accordance with the requirements under IAS 39.

If the convertible bondholders exercise their conversion right before maturity, UMC shall adjust the carrying amount of the liability component. The adjusted carrying amount of the liability component at conversion and the carrying amount of equity component are credited to common stock and additional paid-in capital—premiums. No gain or loss is recognized upon bond conversion.

In addition, the liability component of convertible bonds is classified as a current liability if within 12 months the bondholders may exercise the put right. After the put right expires, the liability component of the convertible bonds should be reclassified as a non-current liability if it meets the definition of a non-current liability in all other respects.

Exchangeable bonds

In accordance with IAS 39, if the economic characteristics and risks of the embedded call or put options are not clearly and closely related to the host contract, the derivative financial instruments embedded in exchangeable bonds would be recognized separately as financial assets or liabilities at fair value through profit or loss.

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UMC also has exchangeable bonds where the bondholders may exchange the bonds into ordinary shares of certain public entities which UMC holds as available-for-sale financial assets. When exchangeable bondholders exercise their right to exchange their bonds for reference shares, the book value of the bonds is offset against the book value of the investments in reference shares and the related stockholders’ equity accounts, with the difference recognized as a gain or loss on disposal of investments.

Both the host contract and bifurcated embedded derivative financial instrument in exchangeable bonds are classified as current liabilities if the bondholders have the right to demand settlement by exercising the exchange option of the bonds.

(17) Post-Employment Benefits

All regular employees are entitled to a defined benefit pension plan that is managed by an independently administered pension fund committee. Fund assets are deposited under the committee’s name with the Bank of Taiwan and hence, not associated with the Company. Therefore, fund assets are not to be included in the Company’s consolidated financial statements. Pension benefits for employees of the overseas branch and subsidiaries are provided in accordance with the local regulations.

The Labor Pension Act of the R.O.C. (the Act), which adopts a defined contribution plan, became effective on July 1, 2005. Employees eligible for the Labor Standards Law, a defined benefit plan, were allowed to elect either the pension calculation under the Act or continue to be subject to the pension calculation under the Labor Standards Law. Those employees that elected to be subject to the Act will have their seniority achieved under the Labor Standards Law retained upon election of the Act, and the Company will make monthly contributions and recognize an expense of no less than 6% of these employees’ monthly wages to the employees’ individual pension accounts. Overseas subsidiaries and branches make contributions to the respective benefit plans based on the specific percentage requirement of local regulations. A post-employment benefit plan that is classified as a defined benefit plan is accounted for under the Projected Unit Credit Method to measure its obligations and costs based on actuarial assumptions. The Company recognizes all actuarial gains and losses in the periods which they occur in other comprehensive income, which then are immediately recognized in retained earnings.

(18) Treasury Stock

UMC’s own equity instruments repurchased (treasury shares) are recognized at repurchase cost and deducted from equity. Any difference between the carrying amount and the consideration is recognized in equity.

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(19) Share-Based Payment Transactions

The cost of equity-settled transactions between the Company and its employees is measured based on the fair value at the date on which they are granted. The fair value of the equity instruments is determined using an appropriate pricing model.

The cost of equity-settled transactions is recognized, together with a corresponding increase in other capital reserves in equity, over the periods in which the performance and/or service conditions are being fulfilled. The cumulative expense recognized for equity-settled transactions at each reporting date reflects the extent to which the vesting period has passed and the Company’s best estimate of the quantity of equity instruments that will ultimately vest. The charge to profit or loss for a period represents the movement in cumulative expense recognized between the beginning and the end of that period.

No expense will be recognized for awards that do not ultimately vest, except for equity-settled transactions for which vesting is conditional upon a market or non-vesting condition. These are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied.

Where the terms of an equity-settled transaction award are modified, the minimum expense recognized is the expense as if the terms had not been modified, if the original terms of the award are met. An additional expense is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee as measured at the date of modification.

Where an equity-settled award is cancelled, it is treated as if it fully vests on the date of cancellation, and any expense not yet recognized for the award is recognized immediately. This includes any award where non-vesting conditions within the control of either the entity or the employee are not met. However, if a new award substitutes for the cancelled award and is designated as a replacement award on the date that it is granted, the cancelled and new awards are treated as if they were a modification of the original award.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share.

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(20) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable. The recognition criteria and methods are described below:

Sales revenue

Revenue from sale of goods is recognized when all the following conditions have been satisfied:

a. the significant risks and rewards of ownership of the goods have been transferred to the buyer;

b. neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold have been retained;

c. the amount of revenue can be measured reliably;

d. it is probable that the economic benefits associated with the transaction will flow to the entity; and

e. the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Sales returns and discounts are estimated based on customer complaints, historical experiences and any other known factors that might significantly affect the estimation and recorded in the same period in which sales are made.

Interest income

For financial assets measured at amortized cost (including held-to-maturity financial assets), interest income is recorded using the effective interest rate and recognized in profit or loss. Interest income from financial assets at fair value through profit or loss is recognized in the income statement as part of other income when the Company’s right to receive payments is established.

Dividends

Revenue is recognized when the Company’s right to receive the dividends is established.

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(21) Income Tax

Income tax expense (benefit) is the aggregate amount of current income tax and deferred income tax included in the determination of profit or loss for the period.

Current income tax

Current income tax assets and liabilities for the current period and prior periods are measured using the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Current income tax relating to items recognized directly in other comprehensive income or equity is recognized in other comprehensive income or equity rather than profit or loss.

The additional 10% income tax for undistributed earnings is recognized as income tax expense in the subsequent year when the distribution proposal is approved by the stockholders’ meeting.

Deferred income tax

Deferred income tax is determined using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts in financial statements at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

a. When the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss;

b. In respect of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not be reversed in the foreseeable future.

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Deferred tax assets are recognized for all deductible temporary differences, the carryforward of unused tax losses and unused tax credits, to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and the carryforward of unused tax losses and unused tax credits can be utilized, except:

a. Where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss;

b. In respect of deductible temporary differences associated with investments in subsidiaries, associates and joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date. The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax relating to items recognized outside profit or loss is not recognized in profit or loss but rather in other comprehensive income or directly in equity. Deferred tax assets are reassessed and recognized at each reporting date. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities offset each other, if a legally enforceable right exists to set off current income tax assets against current income tax liabilities, and the deferred taxes relate to the same taxable entity and the same taxation authority.

Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at the acquisition date, might be realized and recognized subsequently as follows:

a. Acquired deferred tax benefits recognized with in the measured period that result from new information about facts and circumstances that existed at the acquisition date shall be applied to reduce the carrying amount of any goodwill related to that acquisition. If the carrying amount of that goodwill is zero, any remaining deferred tax benefits shall be recognized in profit or loss;

b. All other acquired deferred tax benefits realized shall be recognized in profit or loss, other comprehensive income or equity.

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(22) Earnings per Share

Earnings per share is computed according to IAS 33, “Earnings Per Share”. Basic earnings per share is computed by dividing net income by the weighted-average number of ordinary shares outstanding during the current reporting period. Diluted earnings per share is computed by taking basic earnings per share into consideration plus additional ordinary shares that would have been outstanding if the dilutive share equivalents had been issued. Net income is also adjusted for interest and other income or expenses derived from any underlying dilutive share equivalents. The weighted-average of outstanding shares is adjusted retroactively for stock dividends and employee stock bonus issues.

5. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of the Company’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets, liabilities, the accompanying disclosures and the disclosure of contingent liabilities. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

The key assumptions concerning the future and other key sources of estimation for uncertainty at the reporting date, that would have a significant risk for a material adjustment to the carrying amounts of assets or liabilities within the next fiscal year are discussed below.

The Company bases its assumptions and estimates on information available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

(1) The Fair Value of Financial Instruments

Where the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be derived from active markets, they are determined using valuation techniques including income approach (for example, the discounted cash flows model) or the market approach. Changes in assumptions about these factors could affect the reported fair value of the financial instruments. Please refer to Note 12 for more details.

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(2) Derivative Instruments

The embedded derivative features contained in exchangeable bonds are bifurcated and separately accounted for if the economic characteristics and risks of the embedded derivative instruments are not clearly and closely related to those of the host contracts. Those bifurcated embedded derivatives are fair valued at the end of each reporting period by using the option pricing model with the changes in fair value included in earnings. The valuation model uses the market-based observable inputs including share price, volatility, credit spread and swap rates.

(3) Inventories

Inventories are valued at lower of cost and net realizable value item by item. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Please refer to Note 6(4). Costs of completion include direct labor and overhead, including depreciation and maintenance of production equipment, indirect labor costs, indirect material costs, supplies, utilities and royalties that is expected to be incurred at normal production level. The Company estimates normal production level taking into account loss of capacity resulting from planned maintenance, based on historical experience and current production capacity.

(4) Post-Employment Benefits

Cost of post-employment benefit pension plan and the present value of the pension obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions which may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the complexity of the valuation, the underlying assumptions and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. The assumptions used for measuring pension cost and the present value of the pension obligation are disclosed in Note 6(14).

In determining the appropriate discount rate, management considers the interest rates of the government bonds extrapolated from maturity corresponding to the expected duration of the defined benefit obligation. As for the rate of future salary increase, management takes account of past experiences, comparisons within the industry and the geographical region, inflation and the discount rate.

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(5) Share-Based Payment Transactions

The Company measures the cost of equity-settled transactions with employees based on reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option, volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in Note 6(16).

(6) Revenue Recognition-Sales Returns and Discounts

The Company estimates sales returns and discounts based on customer complaints, historical experience and other known factors that might significantly affect the estimation.

(7) Impairment of Property, Plant and Equipment

At each reporting date or whenever events indicate that the asset’s value has declined or significant changes in the market with an adverse effect have taken place, the Company assesses whether there is an indication that an asset in the scope of IAS 36 may be impaired. If any indication exists, the Company completes impairment testing for the CGU to which the individual assets belong. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. The recoverable amount of an individual asset or CGU is the higher of fair value less costs of disposal and its value in use. The fair value less costs of disposal is based on best information available to reflect the amount that an entity could obtain from the disposal of the asset in an orderly transaction between market participants, after deducting the costs of disposal. The value in use is measured at the net present value of the future cash flows the entity expects to derive from the asset or CGU. Cash flow projection involves subjective judgments and estimates which include the estimated useful lives of property, plant and equipment, capacity that generates future cash flows, capacity of physical output, potential fluctuations of economic cycle in the industry and the Company’s operating situation.

(8) Income Tax

Uncertainties exist with respect to the interpretation of complex tax regulations, changes in tax laws, and the amount and timing of future taxable income. The Company establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective countries in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and different interpretations of tax regulations made by the taxable entity and the responsible tax authority. Such differences of interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective domicile of the Company.

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Deferred tax assets are recognized for all carryforward of unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profit will be available or there are sufficient taxable temporary differences against which the unused tax losses, unused tax credits or deductible temporary differences can be utilized. The amount of deferred tax assets determined to be recognized is based upon the likely timing and the level of future taxable profits and taxable temporary differences.

(9) Classification of Joint Arrangements

The Company holds significant percentage of the voting rights of its joint arrangements. The Company has joint control over these arrangements as under the contractual agreements, unanimous consent is required from all parties to the agreements for all relevant activities.

The Company’s joint arrangements are structured as limited companies and provide the Company and the parties to the agreements with rights to the net assets of the limited companies under the arrangements. Therefore, these entities are classified as joint ventures of the Company.

6. CONTENTS OF SIGNIFICANT ACCOUNTS

(1) Cash and Cash Equivalents

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Cash on hand	$	3,685	$	3,878	$	3,556
Checking and savings accounts		22,215,359		10,389,664		13,903,834
Time deposits		28,426,364		30,782,070		34,780,204
Repurchase agreements collateralized by government bonds and corporate bonds		2,986,648		4,525,723		5,227,561
Total	$	53,632,056	$	45,701,335	$	53,915,155

Please refer to the consolidated statements of cash flows for the reconciliation of the balances of cash and cash equivalents on the consolidated statements of cash flows and on the consolidated balance sheets.

45

(2) Financial Assets at Fair Value through Profit or Loss

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Designated financial assets at fair value through profit or loss
Convertible bonds	$	147,922	$	150,550	$	98,052
Financial assets held for trading
Listed stocks		363,306		246,183		458,476
Corporate bonds		386,752		388,628		398,681
Forward exchange contracts		47,292		—		—
Subtotal		797,350		634,811		857,157
Total	$	945,272	$	785,361	$	955,209
Current	$	900,934	$	740,129	$	857,157
Noncurrent		44,338		45,232		98,052
Total	$	945,272	$	785,361	$	955,209

(3) Accounts Receivable, Net

	As of
	March 31, 2015			December 31, 2014			March 31, 2014
Accounts receivable	$	21,583,112		$	23,307,624		$	19,858,111
Less: allowance for sales returns and discounts		(766,810	)		(828,029	)		(466,240	)
Less: allowance for doubtful accounts		(262,552	)		(272,324	)		(564,570	)
Net	$	20,553,750		$	22,207,271		$	18,827,301

Aging analysis of account receivables:

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Neither past due nor impaired	$	18,163,099	$	17,067,173	$	16,444,680
Past due but not impaired:
£ 30 days		1,970,476		4,409,411		2,183,464
31 to 60 days		199,163		313,494		166,572
61 to 90 days		35,209		230,086		24,123
91 to 120 days		19,510		32,858		8,462
> 120 days		166,293		154,249		—
Subtotal		2,390,651		5,140,098		2,382,621
Total	$	20,553,750	$	22,207,271	$	18,827,301

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Movement on allowance for individually evaluated doubtful accounts:

	For the three-month periods ended March 31,
	2015			2014
Beginning balance	$	272,324		$	574,421
Net charge for the period		(9,772	)		(9,851	)
Ending balance	$	262,552		$	564,570

The terms for third party domestic sales were net 30~60 days, while the collection periods for third party overseas sales were month end 30~60 days.

The impairment losses assessed individually as of March 31, 2015 and 2014 primarily resulted from the financial difficulties of the counter trading parties and the amounts recognized were the difference between the carrying amount of the accounts receivable and the present value of expected collectable amounts. The Company has no collateral with respect to those accounts receivables.

(4) Inventories, Net

	As of
	March 31, 2015			December 31, 2014			March 31, 2014
Raw materials	$	2,242,771		$	2,287,656		$	2,560,647
Supplies and spare parts		2,770,016			2,631,200			2,512,616
Work in process		11,067,383			10,453,741			9,044,301
Finished goods		1,182,857			1,426,188			2,275,336
Total		17,263,027			16,798,785			16,392,900
Less: allowance for inventory valuation losses		(1,621,676	)		(1,556,553	)		(1,971,459	)
Net	$	15,641,351		$	15,242,232		$	14,421,441

a. For the three-month periods ended March 31, 2015 and 2014, the Company recognized NT$27,652 million and NT$25,055 million, respectively, in operating costs, of which NT$121 million and NT$20 million, respectively, were loss as a result of the net realizable value of inventory being lower than its cost.

b. Inventories were not pledged.

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(5) Available-For-Sale Financial Assets

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Common stocks	$	25,725,870	$	23,510,084	$	23,575,634
Preferred stocks		816,808		781,148		312,600
Depositary receipts		200,237		—		—
Funds		78,191		70,872		136,411
Total	$	26,821,106	$	24,362,104	$	24,024,645
Current	$	—	$	—	$	2,313,818
Noncurrent		26,821,106		24,362,104		21,710,827
Total	$	26,821,106	$	24,362,104	$	24,024,645

UMC issued bonds that were exchangeable at any time on or after January 1, 2010 and prior to November 22, 2014, for common stocks originally owned and classified as available-for-sale financial assets, noncurrent. Therefore, these common stocks were classified as current assets since the exchangeable date. The bonds matured on December 2, 2014 and UMC redeemed all the remaining bonds.

(6) Financial Assets Measured at Cost, Non-current

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Common stocks	$	599,618	$	602,429	$	626,733
Preferred stocks		3,121,643		3,100,211		3,122,595
Funds		134,107		130,366		419,682
Total	$	3,855,368	$	3,833,006	$	4,169,010

Since these financial assets mostly consist of non-publicly traded stocks and private venture funds, for which the fair value cannot be reliably measured due to lack of sufficient financial information available, the Company measures these financial assets at cost.

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(7) Investments Accounted For Under the Equity Method

a. Details of investments accounted for under the equity method are as follows:

	As of
	March 31, 2015				December 31, 2014
Investee companies	Amount		Percentage of ownership or voting rights		Amount		Percentage of ownership or voting rights
Unlisted companies
MOS ART PACK CORP. (MAP) (Note A)	$	238,373		72.98	$	238,373		72.98
UNITED LIGHTING OPTO-ELECTRONIC INC. (UNITED LIGHTING) (Note B)		9,586		55.25		9,586		55.25
SHANDONG HUAHONG ENERGY INVEST CO., INC. (SHANDONG HUAHONG) (Note C)		710,574		50.00		731,565		50.00
WINAICO SOLAR PROJEKT 1 GMBH (Note C)		30,036		50.00		35,532		50.00
LIST EARN ENTERPRISE INC.		10,441		49.00		10,660		49.00
MTIC HOLDINGS PTE. LTD.		99,277		45.44		105,872		45.44
YUNG LI INVESTMENTS, INC.		233,281		45.16		219,157		45.16
MEGA MISSION LIMITED PARTNERSHIP		2,016,474		45.00		2,052,269		45.00
WINAICO IMMOBILIEN GMBH (Note C)		211,873		44.78		256,064		44.78
UNITECH CAPITAL INC.		696,358		42.00		682,191		42.00
HSUN CHIEH INVESTMENT CO., LTD.		3,935,110		36.49		3,749,009		36.49
CTC CAPITAL PARTNERS I, L.P.		197,984		31.40		183,681		31.40
TRANSLINK CAPITAL PARTNERS III, L.P. (Note D)		200,699		27.29		199,443		29.29
UNITED LED CORPORATION HONG KONG LIMITED		526,521		25.14		518,495		29.03
ACHIEVE MADE INTERNATIONAL LTD.		119,411		23.32		121,567		23.32
TRANSLINK CAPITAL PARTNERS I, L.P. (Note D)		101,154		10.38		124,249		10.38
Total	$	9,337,152			$	9,237,713

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	As of
	March 31, 2014
Investee companies	Amount		Percentage of ownership or voting rights
Unlisted companies
MAP (Note A)	$	238,373		72.98
UNITED LIGHTING (Note B)		9,586		55.25
SHANDONG HUAHONG (Note C)		697,210		50.00
WINAICO SOLAR PROJEKT 1 GMBH (Note C)		47,656		50.00
ACHIEVE MADE INTERNATIONAL LTD.		121,478		49.38
LIST EARN ENTERPRISE INC.		10,018		49.00
MTIC HOLDINGS PTE. LTD.		155,175		45.44
YUNG LI INVESTMENTS, INC.		275,728		45.16
MEGA MISSION LIMITED PARTNERSHIP		1,847,867		45.00
WINAICO IMMOBILIEN GMBH (Note C)		314,161		44.78
UNITECH CAPITAL INC.		717,683		42.00
UNITED LED CORPORATION HONG KONG LIMITED		478,167		39.13
TRANSLINK CAPITAL PARTNERS III, L.P. (Note D)		55,964		38.45
HSUN CHIEH INVESTMENT CO., LTD.		3,303,439		36.49
UC FUND II		4,007		35.45
EXOJET TECHNOLOGY CORP.		81,840		33.10
CTC CAPITAL PARTNERS I, L.P.		210,711		31.40
TRANSLINK CAPITAL PARTNERS I, L.P. (Note D)		104,987		10.38
Total	$	8,674,050

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Note A:	On March 10, 2011, MAP filed for liquidation through a decision at its stockholders’ meeting. The liquidation has not been completed as of March 31, 2015.
Note B:	On June 19, 2012, UNITED LIGHTING filed for liquidation through a decision at its stockholders’ meeting. The liquidation has not been completed as of March 31, 2015.
Note C:	The Company uses the equity method to account for its investment in SHANDONG HUAHONG, WINAICO SOLAR PROJEKT 1 GMBH and WINAICO IMMOBILIEN GMBH, which are joint ventures.
Note D:	The Company follows international accounting practices in equity accounting for limited partnerships because no equivalent type of business exists domestically. Therefore, the Company uses the equity method to account for these investees.

Certain investments accounted for under the equity method were reviewed by other independent accountants. Shares of investment income (loss) from these associates and joint ventures amounted to NT$(9) million and NT$16 million for the three-month periods ended March 31, 2015 and 2014, respectively. Share of other comprehensive income from these associates and joint ventures amounted to NT$209 million and NT$270 million for the three-month periods ended March 31, 2015 and 2014, respectively. The balances of investments accounted for under the equity method were NT$4,631 million, NT$4,537 million and NT$4,021 million as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

No investment accounted for using the equity method was pledged.

b. Financial information of associates and joint ventures:

There is no individually significant associate or joint venture for the Company. When an associate or a joint venture is a foreign operation, and the functional currency of the foreign entity is different from the Company, an exchange difference arising from translation of the foreign entity will be recognized in other comprehensive income (loss). Such exchange differences recognized in other comprehensive income (loss) in the financial statements for the three-month period ended March 31, 2015 were NT$(61) million, which were not included in the following table.

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(i) The aggregate amount of the Company’s share of its associates that are accounted for using the equity method was as follows:

	For the three-month period ended March 31, 2015
Net income	$	66,614
Other comprehensive income		239,597
Total comprehensive income	$	306,211

(ii) The Company began to use the equity method to account for its investments in SHANDONG HUAHONG, WINAICO SOLAR PROJEKT 1 GMBH and WINAICO IMMOBILIEN GMBH, on January 7, 2011, December 7, 2011 and March 31, 2013, respectively. The aggregate amount of the Company’s share of its joint ventures that are accounted for using the equity method was as follows:

	For the three-month period ended March 31, 2015
Net loss	$	(24,808	)
Other comprehensive income (loss)		—
Total comprehensive loss	$	(24,808	)

c. One of UMC’s associate, HSUN CHIEH INVESTMENT CO., LTD., held 441 million shares of UMC’s stock as of March 31, 2015, December 31, 2014 and March 31, 2014. Another associate, MEGA MISSION LIMITED PARTNERSHIP, held 20 million shares, 29 million shares and 0 share of UMC’s stock as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

(8) Property, Plant and Equipment

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Land	$	1,314,402	$	1,314,402	$	1,915,066
Buildings		12,637,063		12,955,815		13,869,643
Machinery and equipment		123,464,188		119,069,687		124,520,084
Transportation equipment		14,562		14,630		14,988
Furniture and fixtures		907,669		942,520		1,137,157
Leasehold improvement		11,349		12,210		979,978
Construction in progress and equipment awaiting inspection		27,607,068		32,380,979		15,575,846
Net	$	165,956,301	$	166,690,243	$	158,012,762

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Cost:

	Land			Buildings			Machinery and equipment			Transportation equipment			Furniture and fixtures			Leasehold improvement			Construction in progress and equipment awaiting inspection			Total
As of January 1, 2015	$	1,314,402		$	25,837,548		$	662,490,428		$	67,683		$	5,359,909		$	68,280		$	32,380,979		$	727,519,229
Additions		—			—			—			—			—			—			9,437,301			9,437,301
Disposals		—			—			(470,335	)		(815	)		(31,616	)		—			—			(502,766	)
Transfers and reclassifications		—			9,279			14,861,051			1,314			69,981			—			(14,168,498	)		773,127
Exchange effect		—			(52,496	)		(1,440,198	)		(149	)		(4,438	)		(527	)		(42,714	)		(1,540,522	)
As of March 31, 2015	$	1,314,402		$	25,794,331		$	675,440,946		$	68,033		$	5,393,836		$	67,753		$	27,607,068		$	735,686,369
	Land			Buildings			Machinery and equipment			Transportation equipment			Furniture and fixtures			Leasehold improvement			Construction in progress and equipment awaiting inspection			Total
As of January 1, 2014	$	1,925,691		$	25,846,909		$	630,966,729		$	66,554		$	5,285,463		$	1,800,921		$	19,368,388		$	685,260,655
Additions		—			—			—			—			—			—			4,166,796			4,166,796
Disposals		(10,625	)		—			(737,858	)		—			(6,097	)		(2,880	)		—			(757,460	)
Transfers and reclassifications		—			419,183			7,856,330			726			74,981			5,972			(8,038,153	)		319,039
Exchange effect		—			111,566			2,961,287			209			12,222			807			78,815			3,164,906
As of March 31, 2014	$	1,915,066		$	26,377,658		$	641,046,488		$	67,489		$	5,366,569		$	1,804,820		$	15,575,846		$	692,153,936

Accumulated Depreciation and Impairment:

	Land		Buildings			Machinery and equipment			Transportation equipment			Furniture and fixtures			Leasehold improvement			Construction in progress and equipment awaiting inspection		Total
As of January 1, 2015	$	—	$	12,881,733		$	543,420,741		$	53,053		$	4,417,389		$	56,070		$	—	$	560,828,986
Depreciation		—		289,641			9,935,610			1,137			83,614			795			—		10,310,797
Impairment Loss		—		—			225,530			—			—			—			—		225,530
Disposals		—		—			(470,335	)		(622	)		(31,616	)		—			—		(502,573	)
Transfers and reclassifications		—		(305	)		(228	)		—			20,533			—			—		20,000
Exchange effect		—		(13,801	)		(1,134,560	)		(97	)		(3,753	)		(461	)		—		(1,152,672	)
As of March 31, 2015	$	—	$	13,157,268		$	551,976,758		$	53,471		$	4,486,167		$	56,404		$	—	$	569,730,068

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	Land		Buildings		Machinery and equipment			Transportation equipment			Furniture and fixtures			Leasehold improvement			Construction in progress and equipment awaiting inspection		Total
As of January 1, 2014	$	—	$	12,167,522	$	505,795,974		$	51,507		$	4,136,774		$	755,978		$	—	$	522,907,755
Depreciation		—		307,245		8,982,006			1,067			88,189			71,723			—		9,450,230
Disposals		—		—		(730,596	)		—			(4,911	)		(2,880	)		—		(738,387	)
Transfers and reclassifications		—		—		(36,463	)		(240	)		(2,045	)		(775	)		—		(39,523	)
Exchange effect		—		33,248		2,515,483			167			11,405			796			—		2,561,099
As of March 31, 2014	$	—	$	12,508,015	$	516,526,404		$	52,501		$	4,229,412		$	824,842		$	—	$	534,141,174

During the three-month period ended March 31, 2015, UMC determined the machinery and equipment would not be utilized any longer due to physical damage. Therefore, UMC recorded an impairment loss of NT$226 million, the carrying value of this asset.

a. The amounts of total interest expense before capitalization of borrowing costs were NT$177 million and NT$199 million for the three-month periods ended March 31, 2015 and 2014, respectively. Details of capitalized borrowing costs are as follows:

	For the three-month periods ended March 31,
	2015			2014
Buildings	$	16,431		$	15,997
Machinery and equipment		56,290			35,250
Others		2,614			102
Total interest capitalized	$	75,335		$	51,349
Interest rates applied		1.35%~2.10	%		1.44%~2.21	%

b. Please refer to Note 8 for property, plant and equipment pledged as collateral.

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(9) Intangible Assets

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Goodwill	$	7,791	$	7,791	$	50,863
Software		245,330		215,998		158,835
Patents and technology license fees		2,902,160		3,021,788		3,310,707
Others		1,337,040		1,287,361		1,034,772
Net	$	4,492,321	$	4,532,938	$	4,555,177

Cost:

	Goodwill		Software			Patents and technology license fees			Others			Total
As of January 1, 2015	$	7,791	$	490,744		$	4,229,744		$	2,904,499		$	7,632,778
Additions		—		—			53			268,502			268,555
Disposals		—		(91,590	)		—			(124,408	)		(215,998	)
Reclassifications		—		65,251			(53	)		—			65,198
Exchange effect		—		(720	)		(12,380	)		(14	)		(13,114	)
As of March 31, 2015	$	7,791	$	463,685		$	4,217,364		$	3,048,579		$	7,737,419
	Goodwill		Software			Patents and technology license fees			Others			Total
As of January 1, 2014	$	50,863	$	432,462		$	4,155,667		$	2,110,088		$	6,749,080
Additions		—		—			—			116,537			116,537
Disposals		—		(46,860	)		—			(61,495	)		(108,355	)
Reclassifications		—		16,672			—			(61,700	)		(45,028	)
Exchange effect		—		4,327			22,777			2			27,106
As of March 31, 2014	$	50,863	$	406,601		$	4,178,444		$	2,103,432		$	6,739,340

Accumulated Amortization and Impairment:

	Goodwill		Software			Patents and technology license fees			Others			Total
As of January 1, 2015	$	—	$	274,746		$	1,207,956		$	1,617,138		$	3,099,840
Amortization		—		35,620			110,717			218,817			365,154
Disposals		—		(91,590	)		—			(124,408	)		(215,998	)
Exchange effect		—		(421	)		(3,469	)		(8	)		(3,898	)
As of March 31, 2015	$	—	$	218,355		$	1,315,204		$	1,711,539		$	3,245,098

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	Goodwill		Software			Patents and technology license fees		Others			Total
As of January 1, 2014	$	—	$	259,210		$	754,898	$	995,325		$	2,009,433
Amortization		—		33,329			109,474		196,530			339,333
Disposals		—		(46,860	)		—		(61,495	)		(108,355	)
Reclassifications		—		(1,564	)		—		(61,700	)		(63,264	)
Exchange effect		—		3,651			3,365		—			7,016
As of March 31, 2014	$	—	$	247,766		$	867,737	$	1,068,660		$	2,184,163

The amortization amounts of intangible assets are as follows:

	For the three-month periods ended March 31,
	2015		2014
Operating cost	$	131,395	$	127,450
Operating expense	$	233,759	$	211,883

The carrying amounts of significant technology license fees obtained by the Company were NT$2,752 million, NT$2,858 million and NT$3,129 million as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively. The remaining amortization periods were 7~8 years, 7~8 years and 8~9 years, respectively.

(10) Short-term Loans

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Unsecured bank loans	$	7,216,847	$	6,250,754	$	7,516,080

	For the three-month periods ended March 31,
	2015		2014
Interest rates applied		0.61%~2.50%		0.57%~2.07%

a. The Company’s unused short-term lines of credits amounted to NT$19,198 million, NT$19,650 million and NT$16,596 million as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

b. Please refer to Note 8 for property, plant and equipment pledged as collateral for short-term loans.

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(11) Financial Liabilities at Fair Value through Profit or Loss, Current

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Forward exchange contracts	$	—	$	42,354	$	—
Derivatives embedded in exchangeable bonds		—		—		18,087
Total	$	—	$	42,354	$	18,087

(12) Bonds Payable

	As of
	March 31, 2015			December 31, 2014			March 31, 2014
Unsecured domestic bonds payable	$	25,000,000		$	25,000,000		$	20,000,000
Unsecured exchangeable bonds payable		—			—			3,785,387
Unsecured convertible bonds payable		—			—			10,198,815
Less: Discounts on bonds payable		(21,153	)		(22,180	)		(300,888	)
Total		24,978,847			24,977,820			33,683,314
Less: Current or exchangeable portion due within one year		—			—			(13,703,067	)
Net	$	24,978,847		$	24,977,820		$	19,980,247

A. On December 2, 2009, UMC issued SGX-ST listed zero coupon exchangeable bonds. The terms and conditions of the bonds are as follows:

a. Issue Amount: US$127.2 million

b. Period: December 2, 2009 ~ December 2, 2014 (Maturity date)

c. Redemption:

i. UMC may redeem the bonds, in whole or in part, after 12 months of the issuance and prior to the maturity date, at the principal amount of the bonds with an interest calculated at the rate of -0.5% per annum (the Early Redemption Price) if the closing price of the ordinary shares of Unimicron Technology Corporation (Unimicron) on the TWSE, translated into U.S. dollars at the prevailing exchange rate, for a period of 20 consecutive trading days, the last of which occurs not more than 10 days prior to the date upon which notice of such redemption is published, is at least 130% of the exchange price then in effect translated into U.S. dollars at the rate of NTD 32.197=USD 1.00.

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ii. UMC may redeem the bonds, in whole, but not in part, at the Early Redemption Price if at least 90% in principal amount of the bonds has already been exchanged, redeemed or purchased and cancelled.

iii. UMC may redeem all, but not part, of the bonds, at the Early Redemption Price at any time, in the event of certain changes in the R.O.C.’s tax rules which would require UMC to gross up for payments of principal, or to gross up for payments of interest or premium.

iv. All, or any portion, of the bonds would be redeemable in U.S. dollars at the option of bondholders on December 2, 2011 at 99% of the principal amount.

v. Bondholders have the right to require UMC to redeem all or any portion of the bonds at the Early Redemption Price if the ordinary shares of the exchanged securities are officially delisted on the TWSE for a period of five consecutive trading days.

vi. In the event that a change of control as defined in the indenture of the bonds occurs to UMC or Unimicron, the bondholders shall have the right to require UMC to redeem the bonds, in whole or in part, at the Early Redemption Price.

d. Terms of Exchange

i. Underlying Securities: Ordinary shares of Unimicron

ii. Exchange Period: The bonds are exchangeable at any time on or after January 1, 2010 and prior to November 22, 2014, into Unimicron ordinary shares; provided, however, that if the exercise date falls within 5 business days from the beginning of, and during, any closed period, the right of the exchanging holder of the bonds to vote with respect to the shares it receives will be subject to certain restrictions.

iii. Exchange Price and Adjustment: The exchange price was originally NT$51.1875 per share, determined on the basis of a fixed exchange rate of NTD 32.197=USD 1.00. The exchange price will be subject to adjustments upon the occurrence of certain events set out in the indenture.

e. Redemption on the Maturity Date:

The bonds matured on December 2, 2014, and UMC redeemed the bonds at 97.53% of the principal amount. The principal amount of the redeemed bonds was US$127.2 million.

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B. On December 2, 2009, UMC issued SGX-ST listed zero coupon exchangeable bonds. The terms and conditions of the bonds are as follows:

a. Issue Amount: US$80 million

b. Period: December 2, 2009 ~ December 2, 2014 (Maturity date)

c. Redemption:

i. UMC may redeem the bonds, in whole or in part, after 12 months of the issuance and prior to the maturity date, at the principal amount of the bonds with an interest calculated at the rate of -0.5% per annum (the Early Redemption Price) if the closing price of the ordinary shares of Novatek Microelectronics Corp., Ltd. (Novatek) on the TWSE, translated into U.S. dollars at the prevailing exchange rate, for a period of 20 consecutive trading days, the last of which occurs not more than 10 days prior to the date upon which notice of such redemption is published, is at least 130% of the exchange price then in effect translated into U.S. dollars at the rate of NTD 32.197=USD 1.00.

ii. UMC may redeem the bonds, in whole, but not in part, at the Early Redemption Price if at least 90% in principal amount of the bonds has already been exchanged, redeemed or purchased and cancelled.

iii. UMC may redeem all, but not part, of the bonds, at the Early Redemption Price at any time, in the event of certain changes in the R.O.C.’s tax rules which would require UMC to gross up for payments of principal, or to gross up for payments of interest or premium.

iv. All, or any portion, of the bonds would be redeemable in U.S. dollars at the option of bondholders on December 2, 2011 at 99% of the principal amount.

v. Bondholders have the right to require UMC to redeem all or any portion of the bonds at the Early Redemption Price if the ordinary shares of the exchanged securities are officially delisted on the TWSE for a period of five consecutive trading days.

vi. In the event that a change of control as defined in the indenture of the bonds occurs to UMC or Novatek, the bondholders shall have the right to require UMC to redeem the bonds, in whole or in part, at the Early Redemption Price.

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d. Terms of Exchange

i. Underlying Securities: Ordinary shares of Novatek

ii. Exchange Period: The bonds are exchangeable at any time on or after January 1, 2010 and prior to November 22, 2014, into Novatek ordinary shares; provided, however, that if the exercise date falls within 5 business days from the beginning of, and during, any closed period, the right of the exchanging holder of the bonds to vote with respect to the shares it receives will be subject to certain restrictions.

iii. Exchange Price and Adjustment: The exchange price was originally NT$108.58 per share, determined on the basis of a fixed exchange rate of NTD 32.197=USD 1.00. The exchange price will be subject to adjustments upon the occurrence of certain events set out in the indenture.

e. Exchange of the Bonds

As of December 31, 2013, certain bondholders have exercised their rights to exchange their bonds with the total principal amount of US$77 million into Novatek shares. Gains from disposal of investments and gains from exchange of bonds from bondholders exercising exchange rights during the year ended December 31, 2013 amounted NT$1,137 million, and were recognized as non-operating income and expenses.

f. Early Redemption of the Bonds:

Since over 90% principal amount of the bonds has already been exchanged, UMC redeemed the bonds in whole at the Early Redemption Price on July 22, 2013. The remaining principal amount of the redeemed bonds was US$3 million. UMC recognized a gain of NT$45 million from the redemption as non-operating income and expenses.

C. On May 24, 2011, UMC issued SGX-ST listed currency linked zero coupon convertible bonds. The terms and conditions of the bonds are as follows:

a Issue Amount: US$500 million

b. Period: May 24, 2011 ~ May 24, 2016 (Maturity date)

c. Redemption:

i. UMC may redeem the bonds, in whole or in part, after 3 years of the issuance and prior to the maturity date, at the principal amount of the bonds with an interest calculated at the rate of -0.25% per annum (the Early Redemption Amount) if the closing price of UMC’s ADS on the New York Stock Exchange, for a period of 20 out of 30 consecutive ADS trading days, the last of which occurs not more than 5 ADS trading days prior to the date upon which notice of such redemption is published, is at least 130% of the conversion price. The Early Redemption Price will be converted into NTD based on the Fixed Exchange Rate (NTD 28.846=USD 1.00), and this fixed NTD amount will be converted using the prevailing rate at the time of redemption for payment in USD.

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ii. UMC may redeem the bonds, in whole, but not in part, at the Early Redemption Amount if at least 90% in principal amount of the bonds has already been converted, redeemed or repurchased and cancelled.

iii. UMC may redeem all, but not part, of the bonds, at the Early Redemption Amount at any time, in the event of certain changes in the R.O.C.’s tax rules which would require UMC to gross up for payments of principal, or to gross up for payments of interest or premium.

iv. All or any portion of the bonds will be redeemable at Early Redemption Amount at the option of bondholders on May 24, 2014 at 99.25% of the principal amount.

v. Bondholders have the right to require UMC to redeem all of the bonds at the Early Redemption Amount if UMC’s ADS cease to be listed or admitted for trading on the New York Stock Exchange, or UMC’s ordinary shares cease to be listed on the Taiwan Stock Exchange.

vi. In the event that a change of control as defined in the indenture of the bonds occurs to UMC, the bondholders shall have the right to require UMC to redeem the bonds, in whole but not in part, at the Early Redemption Amount.

d. Terms of Conversion

i. Underlying Securities: ADS of UMC

ii. Conversion Period: The bonds are convertible at any time on or after July 4, 2011 and prior to May 14, 2016, into UMC’s ADS; provided, however, that if the exercise date falls within 8 business days from the beginning of, and during, any closed period, the right of the converting holder of the bonds to vote with respect to the ADS it receives will be subject to certain restrictions.

iii. Conversion Price and Adjustment: The conversion price was originally USD 3.77 per ADS, determined on the basis of a Fixed Exchange Rate of NTD 28.846=USD 1.00. The conversion price will be subject to adjustments upon the occurrence of certain events set out in the indenture.

e. Early Redemption of the Bonds:

UMC redeemed bonds with principal amount of US$324 million as requested by investors on May 27, 2014. The associated convertible rights were deemed cancelled and the consideration paid for the early redemption was fully allocated to the liability components. UMC adjusted the carrying amount of the liability components to reflect actual consideration paid and recognized a loss amount to NT$194 million as non-operating income and expenses. UMC reclassified cancelled convertible rights of NT$441 million from additional paid in capital – stock options to additional paid in capital – others.

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As bondholders’ redemption and UMC’s repurchases of bonds from open market in prior year amounted to US$466 million, which represented over 90% principal being redeemed; therefore, UMC redeemed the remaining bonds in whole at the Early Redemption Price on June 27, 2014. The principal amount of the redeemed bonds was US$34 million. UMC recognized a gain of NT$15 million from the redemption as non-operating income and expense.

In accordance with IAS 32, the value of the conversion right of the convertible bonds was determined at issuance and recognized in additional paid-in capital – stock options amounting to NT$680 million, after reduction of issuance costs amounting to NT$3 million. The effective interest rate on the liability component of the convertible bonds was determined to be 0.82%.

D. In early June, 2012, UMC issued a five-year and a seven-year domestic unsecured corporate bonds amounting to NT$10,000 million, with a face value of NT$1 million per unit. The five-year domestic unsecured corporate bond was issued in the amount of NT$7,500 million. Interest will be paid annually at a rate of 1.43%, and the principal will be repayable in June 2017 upon maturity. The seven-year domestic unsecured corporate bond was issued in the amount of NT$2,500 million. Interest will be paid annually at a rate of 1.63%, and the principal will be repayable in June 2019 upon maturity.

E. In mid-March, 2013, UMC issued five-year and seven-year domestic unsecured corporate bonds amounting to NT$10,000 million, with a face value of NT$1 million per unit. The five-year domestic unsecured corporate bond was issued in the amount of NT$7,500 million. Interest will be paid annually at a rate of 1.35%, and the principal will be repayable in March 2018 upon maturity. The seven-year domestic unsecured corporate bond was issued in the amount of NT$2,500 million. Interest will be paid annually at a rate of 1.50%, and the principal will be repayable in March 2020 upon maturity.

F. In mid-June, 2014, UMC issued seven-year and ten-year domestic unsecured corporate bonds amounting to NT$5,000 million, with a face value of NT$1 million per unit. The seven-year domestic unsecured corporate bond was issued in the amount of NT$2,000 million. Interest will be paid annually at a rate of 1.70%, and the principal will be repayable in June 2021 upon maturity. The ten-year domestic unsecured corporate bond was issued in the amount of NT$3,000 million. Interest will be paid annually at a rate of 1.95%, and the principal will be repayable in June 2024 upon maturity.

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(13) Long-Term Loans

a. Details of long-term loans as of March 31, 2015 and December 31, 2014 are as follows:

	As of
Lenders	March 31, 2015		December 31, 2014		Redemption
Secured Long-Term Loan from Mega International Commercial Bank (1)	$	73,053	$	80,358	Effective August 1, 2012 to August 1, 2017. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Mega International Commercial Bank (2)		15,000		16,000	Effective November 21, 2013 to November 21, 2018. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Taiwan Cooperative Bank (1)		78,883		87,647	Effective May 25, 2012 to May 25, 2017. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Taiwan Cooperative Bank (2)		78,647		84,265	Effective July 10, 2013 to July 10, 2018. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Taiwan Cooperative Bank (3)		19,410		—	Effective February 13, 2015 to February 13, 2020. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Syndicated Loans from Bank of Taiwan and 7 others (1)		1,385,000		—	Repayable semi-annually from February 6, 2017 to February 6, 2020 with monthly interest payments.
Secured Syndicated Loans from Taiwan Cooperative Bank and 5 others		150,000		150,000	Repayable semi-annually from October 25, 2010 to April 25, 2015 with monthly interest payments.

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	As of
Lenders	March 31, 2015			December 31, 2014			Redemption
Unsecured Long-Term Loan from Bank of Taiwan	$	3,000,000		$	2,700,000		Repayable quarterly from October 31, 2015 to July 31, 2017 with monthly interest payments.
Unsecured Long-Term Loan from Mega International Commercial Bank (1)		923,077			1,230,769		Repayable quarterly from December 28, 2012 to December 28, 2015 with monthly interest payments.
Unsecured Long-Term Loan from Mega International Commercial Bank (2)		1,000,000			300,000		Repayable quarterly from October 4, 2015 to October 4, 2018 with monthly interest payments.
Unsecured Long-Term Loan from E. Sun Bank		500,000			500,000		Repayable quarterly from December 24, 2015 to December 24, 2017 with monthly interest payments.
Unsecured Long-Term Loan from Taiwan Cooperative Bank		1,000,000			1,000,000		Repayable quarterly from March 24, 2016 to December 24, 2017 with monthly interest payments.
Unsecured Revolving Loan from CTBC Bank (Note A)		2,000,000			1,000,000		Settlement due on August 30, 2016 with monthly interest payments.
Unsecured Revolving Loan from Chang Hwa Commercial Bank (Note B)		2,333,333			2,666,667		Repayable quarterly from December 29, 2014 to December 29, 2016 with monthly interest payments.
Unsecured Revolving Loan from China Development Industrial Bank (Note C)		1,000,000			1,000,000		Settlement due on December 29, 2019 with monthly interest payments.
Secured Syndicated Loans from Bank of Taiwan and 7 others (2)		—			1,385,000		Repayable semi-annually from February 7, 2015 to February 7, 2016 with monthly interest payments.
Subtotal		13,556,403			12,200,706
Less: Administrative expenses from syndicated loans		(8,217	)		(2,250	)
Less: Current portion		(3,637,118	)		(3,774,986	)
Total	$	9,911,068		$	8,423,470

	For the three- month period ended March 31, 2015
Interest Rates	1.26%~2.95%

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b. Details of long-term loans as of March 31, 2014 are as follows:

Lenders	As of March 31, 2014		Redemption
Secured Long-Term Loan from Bank of Taiwan	$	898,225	Effective July 13, 2011 to July 13, 2016. Interest-only payment for the first year. Principal is repaid in 16 quarterly payments with monthly interest payments.
Secured Long-Term Loan from First Commercial Bank (1)		310,000	Effective December 31, 2010 to December 31, 2015. Interest-only payment for the first year. Principal is repaid in 8 semi-annual payments with monthly interest payments.
Secured Long-Term Loan from First Commercial Bank (2)		125,000	Effective June 24, 2011 to June 24, 2016. Interest-only payment for the first year. Principal is repaid in 8 semi-annual payments with monthly interest payments.
Secured Long-Term Loan from First Commercial Bank (3)		103,000	Bullet repayment on May 16, 2014 with monthly interest payments.
Secured Long-Term Loan from First Commercial Bank (4)		400,000	Bullet repayment on June 27, 2014 with monthly interest payments.
Secured Long-Term Loan from Mega International Commercial Bank (3)		554,823	Repayable quarterly from June 30, 2011 to June 30, 2016 with monthly interest payments.
Secured Long-Term Loan from Mega International Commercial Bank (1)		102,275	Effective August 1, 2012 to August 1, 2017. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Mega International Commercial Bank (2)		17,000	Effective November 21, 2013 to November 21, 2018. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Taiwan Cooperative Bank (1)		113,941	Effective May 25, 2012 to May 25, 2017. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.
Secured Long-Term Loan from Taiwan Cooperative Bank (2)		70,000	Effective July 10, 2013 to July 10, 2018. Interest-only payment for the first year. Principal is repaid in 17 quarterly payments with monthly interest payments.

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Lenders	As of March 31, 2014			Redemption
Secured Syndicated Loans from Bank of Taiwan and 7 others	$	1,385,000		Repayable semi-annually from February 7, 2015 to February 7, 2016 with monthly interest payments.
Secured Syndicated Loans from Taiwan Cooperative Bank and 5 others		450,000		Repayable semi-annually from October 25, 2010 to April 25, 2015 with monthly interest payments.
Unsecured Long-Term Loan from Bank of Taiwan		900,000		Repayable quarterly from October 31, 2015 to July 31, 2017 with monthly interest payments.
Unsecured Long-Term Loan from Mega International Commercial Bank (1)		2,153,846		Repayable quarterly from December 28, 2012 to December 28, 2015 with monthly interest payments.
Unsecured Long-Term Loan from Mega International Commercial Bank (2)		300,000		Repayable quarterly from October 4, 2015 to October 4, 2018 with monthly interest payments.
Unsecured Long-Term Loan from E. Sun Bank		500,000		Repayable quarterly from December 24, 2015 to December 24, 2017 with monthly interest payments.
Unsecured Revolving Loan from CTBC Bank (Note A)		1,000,000		Settlement due on August 30, 2016 with monthly interest payments.
Unsecured Revolving Loan from Chang Hwa Commercial Bank (Note B)		1,000,000		Repayable quarterly from December 29, 2014 to December 29, 2016 with monthly interest payments.
Unsecured Long-Term Loan from Taiwan Cooperative Bank		500,000		Repayable quarterly from March 24, 2016 to December 24, 2017 with monthly interest payments.
Subtotal		10,883,110
Less:Administrative expenses from syndicated loans		(3,809	)
Less: Current portion		(3,200,280	)
Total	$	7,679,021

	For the three- month period ended March 31, 2014
Interest Rates	1.23%~2.51%

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Note A:	UMC entered into a 5-year loan agreement with CTBC Bank, effective from August 30, 2011. The agreement offered UMC a revolving line of credit of NT$2.5 billion starting from the first use of the loan to the expiration date of the agreement, August 30, 2016. As of March 31, 2015, December 31, 2014 and March 31, 2014, the unused line of credit were NT$0.5 billion, NT$1.5 billion and NT$1.5 billion, respectively.
Note B:	UMC entered into a 5-year loan agreement with Chang Hwa Commercial Bank, effective from December 29, 2011. The agreement offered UMC a revolving line of credit of NT$3 billion. This line of credit will be reduced starting from the end of the third year after the first use and every three months thereafter, with a total of nine adjustments. The expiration date of the agreement is December 29, 2016. As of March 31, 2015, December 31, 2014 and March 31, 2014, the unused line of credit were nil, nil and NT$2 billion, respectively.
Note C:	UMC entered into a 5-year loan agreement with China Development Industrial Bank, effective from September 25, 2014. The agreement offered UMC a revolving line of credit of NT$2 billion. This line of credit will be reduced starting from the end of the second year after the first use and every twelve months thereafter, with a total of four adjustments. The expiration date of the agreement is December 29, 2019. As of March 31, 2015 and December 31, 2014, the unused line of credit were both NT$1 billion.

b. Please refer to Note 8 for property, plant and equipment pledged as collateral for long- term loans.

(14) Post-Employment Benefits

a. Defined contribution plan

The Labor Pension Act of the R.O.C. (the Act) which became effective on July 1, 2005 is a defined contribution plan. Employees can elect to continue to apply the relevant pension rules under the Labor Standards Law of the R.O.C., or to apply the pension rules under the Act and maintain the seniority achieved under the Labor Standards Law. Under the Act, the monthly contributions percentage shall not be less than 6% of these employees’ monthly wages. The Company and its domestic subsidiaries have been making monthly contributions of 6% based on each individual employee’s salary or wage to employees’ pension accounts beginning July 1, 2005. Based on the Act, a total of NT$155 million and NT$144 million were contributed by the Company for the three-month periods ended March 31, 2015 and 2014, respectively. Pension benefits for employees of the Singapore branch, and other subsidiaries overseas were provided in accordance with the local regulations, and during the three-month periods ended March 31, 2015 and 2014, the Company made total contributions of NT$135 million and NT$104 million, respectively.

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b. Defined benefit plan

The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and the average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15^th year and the total units will not exceed 45 units. The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of an administered pension fund committee. For the three-month periods ended March 31, 2015 and 2014, total pension expenses of NT$28 million and NT$28 million, respectively, were recognized by the Company.

(15) Equity

a. Capital stock:

i. UMC had 26,000 million common shares authorized to be issued as of March 31, 2015, December 31, 2014 and March 31, 2014, of which 12,748 million shares, 12,725 million shares and 12,698 million shares were issued as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively, each at a par value of NT$10.

ii. UMC had 147 million, 150 million and 168 million ADSs, which were traded on the NYSE as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively. The total number of common shares of UMC represented by all issued ADSs were 734 million shares, 749 million shares and 841 million shares as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively. One ADS represents five common shares.

iii. Among the employee stock options issued by UMC on June 19, 2009, 21 million options had been exercised during the three-month period ended March 31, 2015, of which the issuance process for 18 million shares has been approved by the authority, and the share registry has been updated as of March 31, 2015. The remaining 3 million shares were still pending for authorization as of March 31, 2015, thus, they were classified as Capital collected in advance.

iv. Among the employee stock options issued by UMC on June 19, 2009, 8 million options were exercised during the three-month period ended March 31, 2014. The issuance process was completed through the authority.

v. On December 30, 2014, UMC sold 5 million shares of treasury stock to employees, which were repurchased during the period from March 15 to May 6, 2013, for the purpose of transferring to employees.

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b. Treasury stock:

i. UMC carried out treasury stock program, and repurchased its shares from the centralized securities exchange market. The purpose for repurchase, and changes in treasury stock during the three-month periods ended March 31, 2015 and 2014 are as follows:

For the three-month period ended March 31, 2015

(In thousands of shares)

Purpose	As of January 1, 2015		Increase		Decrease		As of March 31, 2015
For transfer to employees		194,510		—		—		194,510

For the three-month period ended March 31, 2014

(In thousands of shares)

Purpose	As of January 1, 2014		Increase		Decrease		As of March 31, 2014
For transfer to employees		200,000		—		—		200,000

ii. According to the Securities and Exchange Law of the R.O.C., the total shares of treasury stock shall not exceed 10% of UMC’s issued stock, and the total purchase amount shall not exceed the sum of the retained earnings, additional paid-in capital-premiums and realized additional paid-in capital. As such, the maximum number of shares of treasury stock that UMC could hold as of March 31, 2015 and 2014, were 1,275 million shares and 1,270 million shares, with the maximum payments of NT$80,641 million and NT$71,766 million, respectively.

iii. In compliance with Securities and Exchange Law of the R.O.C., treasury stock should not be pledged, nor should it be entitled to voting rights or receiving dividends. Stock held by subsidiaries is treated as treasury stock. These subsidiaries have the same rights as other stockholders except for subscription to new stock issuance and voting rights.

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iv. As of March 31, 2015, UMC’s subsidiary, FORTUNE VENTURE CAPITAL CORP., held 16 million shares of UMC’s stock. The closing price on March 31, 2015 was NT$15.50.

As of December 31, 2014, UMC’s subsidiary, FORTUNE VENTURE CAPITAL CORP., held 16 million shares of UMC’s stock. The closing price on December 31, 2014 was NT$14.75.

As of March 31, 2014, UMC’s subsidiary, FORTUNE VENTURE CAPITAL CORP., held 16 million shares of UMC’s stock. The closing price on March 31, 2014 was NT$12.85.

v. UMC’s subsidiary, FORTUNE VENTURE CAPITAL CORP., held shares of UMC’s stock through acquiring shares of UNITED SILICON INC. in 1997, and these shares were converted to UMC’s stock in 2000 as a result of the Company’s 5 in 1 merger.

c. Retained earnings and dividend policies:

According to UMC’s Articles of Incorporation, current year’s earnings, if any, shall be distributed in the following order:

i. Payment of all taxes and dues;

ii. Offset prior years’ operation losses;

iii. Appropriate 10% of the remaining amount after deducting items (i) and (ii) as a legal reserve;

iv. Appropriate or reverse special reserve in accordance with relevant laws or regulations, and

v. Appropriate 0.1% of the remaining amount after deducting items (i), (ii), (iii) and (iv) as directors’ remuneration; and

vi. After deducting items (i), (ii), (iii) and (iv) above from the current year’s earnings, no less than 5% of the remaining amount together with the prior years’ unappropriated earnings is to be allocated as employee bonus, which will be settled through issuance of new shares of UMC, or cash. Employees of UMC’s subsidiaries, meeting certain requirements determined by the Board of Directors, are also eligible for the employee stock bonus.

vii. The distribution of the remaining portion, if any, will be recommended by the Board of Directors and resolved in the stockholders’ meeting.

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The policy for dividend distribution should reflect factors such as the current and future investment environment, funding requirements, domestic and international competition and capital budgets; as well as the benefit of stockholders, stock dividend equilibrium and long-term financial planning. The Board of Directors shall make the distribution proposal annually and present it at the stockholders’ meeting. UMC’s Articles of Incorporation further provide that at least 20% of the dividends must be paid in the form of cash. Accordingly, no more than 80% of the dividends to stockholders, if any, may be paid in the form of stock dividends.

According to the regulations of Taiwan FSC, UMC is required to appropriate a special reserve in the amount equal to the sum of debit elements under equity, such as unrealized loss on financial instruments and negative cumulative translation adjustment, at every year-end. Such special reserve is prohibited from distribution. However, if any of the debit elements is reversed, the special reserve in the amount equal to the reversal may be released for earnings distribution or offsetting accumulated deficit.

The Company estimates the amounts of the employee bonus and remuneration to directors and recognizes them in the profit or loss during the periods earned for the three-month periods ended March 31, 2015 and 2014. The Board of Directors estimated the amount by taking into consideration UMC’s Articles of Incorporation, government regulations and industry averages. If the board subsequently modifies the estimates significantly, UMC will recognize the change as an adjustment in the profit or loss in the same period. The difference between the estimation and the resolution of the stockholders’ meeting will be recognized in profit or loss in the subsequent year. Upon stockholders’ approval, the number of shares distributed as share dividends is calculated based on the total approved bonus amount divided by the closing price one day prior to the approved date with the consideration of the impacts of ex-right/ex-dividend. Compensation expense relating to stock bonus is remeasured at fair market value at the date of stock distribution. Information on the above mentioned employee bonus and remuneration to directors and supervisors can be obtained from the “Market Observation Post System” on the website of the TWSE.

The appropriation and compensation of 2014 unappropriated retained earnings have not yet been approved by the stockholder’s meeting as of the reporting date. Information on the Board of Directors’ recommendations and stockholders’ approval can be obtained from the “Market Observation Post System” on the website of the TWSE.

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The distributions of cash dividend, employee bonus and directors’ remuneration for 2014 and 2013 were approved through the Board of Directors’ meeting and the stockholders’ meeting held on March 18, 2015 and June 11, 2014, respectively. The details of distribution are as follows:

	2014		2013
Cash Dividend	NT$	0.55 per share	NT$	0.01 per share
Employee bonus – Cash (in thousand NT$)		1,458,956		1,162,656
Directors’ remuneration (in thousand NT$)		10,812		11,746

The stockholders’ meeting held on June 11, 2014 resolved a cash distribution of NT$6,128 million from additional paid-in capital, at approximately NT$0.49 per share.

The aforementioned 2013 employee bonuses and remuneration to directors approved during stockholders’ meeting, were consistent with the resolutions of meeting of Board of Directors held on April 16, 2014.

d. Non-controlling interests:

	For the three-month periods ended March 31,
	2015			2014
Balance as of January 1	$	3,849,798		$	4,319,988
Attributable to non-controlling interests:
Net loss		(67,438	)		(68,891	)
Other comprehensive income (loss)		(36,966	)		49,266
Changes in subsidiaries’ ownership		87,180			28,662
Balance as of March 31	$	3,832,574		$	4,329,025

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(16) Employee Stock Options

On May 12, 2009, the Company was authorized by the Securities and Futures Bureau of the FSC, to issue employee stock options with a total number of 500 million units each. Each unit entitled an optionee to subscribe to 1 share of the Company’s common stock. Settlement upon the exercise of the options would be made through the issuance of new shares by the Company. The exercise prices of the options were set at the closing prices of the Company’s common stock on the dates of grant. The contractual lives were 6 years and an optionee might exercise the options in accordance with certain schedules as prescribed by the plans after 2 years from the dates of grant. Detailed information relevant to the employee stock options is disclosed as follows:

Date of grant	Total number of options granted (in thousands)		Total number of options outstanding as of March 31, 2015 (in thousands)		Shares available to option holders as of March 31, 2015 (in thousands)		Exercise price (NT$)
June 19, 2009		300,000		27,995		27,995	$	10.40
Total		300,000		27,995		27,995

a. A summary of the Company’s stock option plan and related information for the three-month periods ended March 31, 2015 and 2014 is as follows:

	For the three-month periods ended March 31,
	2015								2014
	Options (in thousands)			Shares available to option holders (in thousands)			Weighted- average exercise price per share (NTD)		Options (in thousands)			Shares available to option holders (in thousands)			Weighted- average exercise price per share (NTD)
Outstanding at beginning of period		48,729			48,729		$	10.40		87,768			87,768		$	10.40
Exercised		(20,668	)		(20,668	)	$	10.40		(8,207	)		(8,207	)	$	10.40
Forfeited		(66	)		(66	)	$	10.40		(206	)		(206	)	$	10.40
Outstanding at end of period		27,995			27,995		$	10.40		79,355			79,355		$	10.40
Exercisable at end of period		23,549			23,549		$	10.40		74,596			74,596		$	10.40

b. The information on the Company’s outstanding stock options as of March 31, 2015 is as follows:

			Outstanding Stock Options								Exercisable Stock Options
Authorization Date	Range of Exercise Price (NTD)		Options (in thousands)		Shares available to option holders (in thousands)		Weighted- average expected remaining years		Weighted- average exercise price per share (NTD)		Options (in thousands)		Shares available to option holders (in thousands)		Weighted- average exercise price per share (NTD)
2009.05.12	$	10.40		27,995		27,995		0.22	$	10.40		23,549		23,549	$	10.40

The weighted-average share price at the date of exercise of employee stock options for the three-month periods ended March 31, 2015 and 2014 were NT$15.50 and NT$12.67, respectively.

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c. The options granted between January 1, 2004 and December 31, 2007 have all been vested before the transition date to TIFRS (January 1, 2012) and there has not been any modification to the stock option plan. Effective 2008, the compensation expenses related to the Company’s compensatory employee stock option plan were calculated based on fair value. The compensation expenses for the three-month periods ended March 31, 2015 and 2014 were NT$0 million and NT$1 million, respectively.

The fair value of the options outstanding as of March 31, 2015 and 2014 were estimated at the date of grant using the Black-Scholes options pricing model with the following weighted-average assumptions. The factors after the adoption of IFRS 2 “Share-based Payment” to account for share-based payments were as follows:

Items	Factors
Expected dividend yields		1.98	%
Volatility factors of the expected market price of the Company’s common stock		40.63	%
Risk-free interest rate		1.01	%
Weighted-average expected life		3.16~5.03 years

The aforementioned expected volatility reflects that the assumption that the historical volatility over a period similar to the life of the option is indicative of future trends. The expected option life is based on the historical data of periods for previously granted options. The expected dividend yield is based on historical dividend yield. The risk-free interest rate is based on average interest rate for Taiwan Government Bond over a period similar to the life of the option. The estimates used to calculate the fair value of employee stock option cannot predict future events that are likely to occur or the final amounts employees will benefit from these options. In addition, future events will not affect the reasonableness of the initial calculation for fair value for the stock options. The compensation expenses for the stock options will be adjusted annually for the changes in expected forfeiture rates, with the effects recognized in the current period.

(17) Operating Revenues

	For the three-month periods ended March 31,
	2015		2014
Net sales
Sale of goods	$	36,706,417	$	30,746,719
Other operating revenues
Royalty		9,394		2,703
Mask tooling		807,792		681,734
Others		126,041		262,429
Net operating revenues	$	37,649,644	$	31,693,585

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(18) Operating Costs and Expenses

The Company’s personnel, depreciation and amortization expenses are summarized as follows:

	For the three-month periods ended March 31,
	2015						2014
	Operating costs		Operating expenses		Total		Operating costs		Operating expenses		Total
Personnel expenses
Salaries	$	3,925,937	$	1,605,358	$	5,531,295	$	3,377,602	$	1,375,809	$	4,753,411
Labor and health insurance		213,231		85,280		298,511		195,810		80,969		276,779
Pension		240,496		82,424		322,920		209,661		66,880		276,541
Other personnel expenses		54,294		22,529		76,823		44,773		13,814		58,587
Depreciation		9,731,506		563,289		10,294,795		8,892,123		545,097		9,437,220
Amortization		160,343		277,056		437,399		162,790		237,293		400,083

(19) Net Other Operating Income and Expenses

	For the three-month periods ended March 31,
	2015			2014
Net rental loss from property	$	(10,400	)	$	(2,563	)
Gain on disposal of property, plant and equipment		52,113			58,020
Impairment loss of property, plant and equipment		(225,530	)		—
Others		41,203			—
Total	$	(142,614	)	$	55,457

(20) Non-Operating Income and Expenses

a. Other income

	For the three-month periods ended March 31,
	2015		2014
Interest income
Bank deposits	$	65,614	$	116,843
Others		8,481		7,435
Dividend income		—		1,328
Total	$	74,095	$	125,606

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b. Other gains and losses

	For the three-month periods ended March 31,
	2015			2014
Gain on valuation of financial assets and liabilities at fair value through profit or loss
Designated financial assets at fair value through profit or loss	$	—		$	4,057
Financial assets held for trading		88,902			12,132
Forward exchange contract		43,551			—
Loss on valuation of financial assets and liabilities at fair value through profit or loss
Designated financial assets at fair value through profit or loss		(2,628	)		—
Embedded derivative financial liabilities		—			(644	)
Impairment loss
Available-for-sale financial assets, noncurrent		(63,090	)		(1,280	)
Financial assets measured at cost, noncurrent		—			(91,239	)
Gain on disposal of investments		189,697			367,003
Other gains and losses		75,107			103,734
Total	$	331,539		$	393,763

c. Finance costs

	For the three-month periods ended March 31,
	2015		2014
Interest expenses
Bonds payable	$	46,447	$	91,756
Bank loans		54,558		55,444
Others		35		107
Financial expenses		13,694		7,841
Total	$	114,734	$	155,148

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(21) Components of Other Comprehensive Income (Loss)

	For the three-month period ended March 31, 2015
	Arising during the period			Reclassification adjustments during the period			Other comprehensive income (loss), before tax			Income tax effect			Other comprehensive income (loss), net of tax
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations	$	(890,828	)	$	—		$	(890,828	)	$	11,336		$	(879,492	)
Unrealized gain (loss) on available-for-sale financial assets		746,226			(129,167	)		617,059			(23,687	)		593,372
Share of changes in other comprehensive income (loss) of associates and joint ventures accounted for using equity method		178,692			—			178,692			330			179,022
Total other comprehensive income (loss)	$	34,090		$	(129,167	)	$	(95,077	)	$	(12,021	)	$	(107,098	)

	For the three-month period ended March 31, 2014
	Arising during the period		Reclassification adjustments during the period			Other comprehensive income (loss), before tax		Income tax effect			Other comprehensive income (loss), net of tax
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations	$	1,444,082	$	—		$	1,444,082	$	253		$	1,444,335
Unrealized gain (loss) on available-for-sale financial assets		2,778,197		(368,720	)		2,409,477		(59,058	)		2,350,419
Share of changes in other comprehensive income (loss) of associates and joint ventures accounted for using equity method		350,684		—			350,684		(15,158	)		335,526
Total other comprehensive income (loss)	$	4,572,963	$	(368,720	)	$	4,204,243	$	(73,963	)	$	4,130,280

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(22) Income Tax

a. The major components of income tax expense for the three-month periods ended March 31, 2015 and 2014 were as follows:

i. Income tax expense recorded in profit or loss

	For the three-month periods ended March 31,
	2015			2014
Current income tax expense (benefit):
Current income tax charge	$	569,983		$	221,685
Adjustments in respect of current income tax of prior periods		(6,096	)		(77	)
Deferred income tax expense (benefit):
Deferred income tax expense (benefit) related to origination and reversal of temporary differences		(332,232	)		(42,916	)
Deferred income tax related to recognition and derecognition of tax losses and unused tax credits		194,873			11,563
Adjustment of prior year’s deferred income tax		—			(3	)
Deferred tax expense arising from write-down or reversal of write-down of deferred tax assets		15,110			(9,476	)
Income tax expense recorded in profit or loss	$	441,638		$	180,776

ii. Income tax relating to components of other comprehensive income

	For the three-month periods ended March 31,
	2015			2014
Exchange differences on translation of foreign operations	$	11,336		$	253
Unrealized gain on available-for-sale financial assets		(23,687	)		(59,058	)
Share of changes in other comprehensive income of associates and joint ventures accounted for using equity method		330			(15,158	)
Income tax relating to components of other comprehensive income	$	(12,021	)	$	(73,963	)

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iii. Deferred income tax charged directly to equity

	For the three-month periods ended March 31,
	2015		2014
Temporary differences arising from the initial recognition of the equity component separately from the liability component	$	—	$	462
Adjustments of changes in net assets of associates and joint ventures accounted for using equity method		—		1
Income tax charged directly to equity	$	—	$	463

b. A reconciliation between income tax expense and income before tax at UMC’s applicable tax rate was as follows:

	For the three-month periods ended March 31,
	2015			2014
Income before tax	$	4,354,110		$	1,291,583
At UMC’s statutory income tax rate of 17%		740,199			219,569
Adjustments in respect of current income tax of prior periods		(6,096	)		(77	)
Net change in loss carry-forward and investment tax credits		99,342			67,875
Tax effect of deferred tax assets/liabilities		(28,558	)		(36,042	)
Tax effect of non-taxable income and not-deductible expenses:
Tax exempt income		(236,789	)		(12,212	)
Investment gain		(199,515	)		(155,871	)
Others		74,679			62,521
Basic tax		—			558
Effect of different tax rates applicable to UMC and its subsidiaries		(2,485	)		(5,411	)
Taxes withheld in other jurisdictions		—			15,099
Others		861			24,767
Income tax expense recorded in profit or loss	$	441,638		$	180,776

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c. The Company is subject to taxation in Taiwan and other foreign jurisdictions. As of March 31, 2015, income tax returns of UMC and its subsidiaries in Taiwan have been examined by the tax authorities through 2012 and 2011, respectively, while in other foreign jurisdictions, relevant tax authorities have completed the examination through 2008. UMC has applied for a recheck of the 2012 and 2011 tax return to the competent tax collection authorities as UMC disagreed with the decision made in the tax assessment notice.

d. Imputation credit information

	As of
	March 31, 2015		December 31, 2014		March 31, 2014
Balances of imputation credit amounts	$	1,344,439	$	1,332,236	$	1,116,171

The expected creditable ratio for 2014 and the actual creditable ratio for 2013 were 3.55% and 4.78%, respectively.

e. UMC’s earnings generated in the year ended December 31, 1997 and prior years have been fully appropriated.

(23) Earnings Per Share

a. Earnings per share-basic

Basic earnings per share amounts are calculated by dividing the net income for the year attributable to ordinary equity holders of the parent entity by the weighted average number of ordinary shares outstanding during the year. The reciprocal shareholdings held by subsidiaries are deducted from the computation of weighted-average number of shares outstanding.

	For the three-month periods ended March 31,
	2015		2014
Net profit attributable to the parent company	$	3,979,910	$	1,179,698
Weighted-average number of ordinary shares for basic earnings per share (thousand shares)		12,526,260		12,479,925
Earnings per share-basic (NTD)	$	0.32	$	0.09

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b. Earnings per share-diluted

Diluted earnings per share is calculated by taking basic earnings per share plus the effect of additional common shares that would have been outstanding if the dilutive share equivalents had been issued. The net income attributable to ordinary equity holders of the parent would be also adjusted for the interest and other income or expenses derived from any underlying dilutive share equivalents, such as convertible bonds. For employee bonus that may be distributed in shares, the number of shares to be distributed is taken into consideration assuming the distribution will be made entirely in shares when calculating diluted earnings per share. Additionally, the dilutive effect of outstanding employee options generally should be reflected in diluted earnings per share by application of treasury stock method. The “assumed proceeds” include the exercise price of the options and the average measured but unrecognized compensation expense during the period.

	For the three-month periods ended March 31,
	2015		2014
Net income attributable to the parent company	$	3,979,910	$	1,179,698
Effect of dilution
Unsecured convertible bonds		—		16,994
Income attributable to the Company’s stockholders	$	3,979,910	$	1,196,692
Weighted average number of common stocks for basic earnings per share (thousand shares)		12,526,260		12,479,925
Effect of dilution
Employee bonus		121,144		109,571
Employee stock options		12,642		14,335
Unsecured convertible bonds		—		554,153
Weighted average number of common stocks after dilution (thousand shares)		12,660,046		13,157,984
Diluted earnings per share (NTD)	$	0.31	$	0.09

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(24) Non-Current Assets Held For Sale (Disposal Group)

TOPCELL SOLAR INTERNATIONAL CO., LTD. (TOPCELL)

In order to integrate resources and reduce operating cost by improving operating performance and expanding economies of scale, TOPCELL’s Board of Directors (TOPCELL, one of the Company’s subsidiaries) resolved to offer a merger with MOTECH INDUSTRIES, INC. (MOTECH) on December 26, 2014. Six shares of TOPCELL were exchanged for one share of MOTECH. MOTECH will be the surviving company when the merger is expected to become effective on July 1, 2015 upon the completion of follow-up procedures to be determined when the merger is approved by TOPCELL’s stockholders and the authority. TOPCELL’s assets and liabilities have been reclassified to non-current assets held for sale as a disposal group. This disposal group is classified under new business segment.

Assets and liabilities reclassified to non-current assets held for sale as a disposal group mainly consist of:

	As of
	March 31, 2015			December 31, 2014
Assets
Cash and cash equivalents	$	331,248		$	511,088
Notes and accounts receivable		412,812			758,839
Other receivable		63,197			77,579
Inventories		801,629			823,249
Prepayment		298,556			325,605
Non-current assets held for sale		—			600,663
Property, plant and equipment		3,848,487			3,821,601
Others		57,486			60,367
		5,813,415			6,978,991
Liabilities
Short-term loans		(2,619,307	)		(2,807,292	)
Notes and accounts payable		(354,622	)		(623,501	)
Other payables		(190,262	)		(217,350	)
Payables on equipment		(156,028	)		(158,537	)
Current portion of long-term liabilities		(810,878	)		(1,164,878	)
Other current liabilities		(50,736	)		(205,530	)
Long-term loans		(266,292	)		(417,762	)
		(4,448,125	)		(5,594,850	)
Net carrying amount of the disposal group	$	1,365,290		$	1,384,141

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ALLIANCE OPTOTEK CORP. (ALLIANCE)

In order to integrate resources and expand operation to improve operating performance and industrial competitiveness, ALLIANCE’s Board of Directors (ALLIANCE, one of the Company’s subsidiaries) resolved merger with WIESON TECHNOLOGIES CO., LTD. (WIESON) on January 23, 2014. WIESON is the surviving company and the merger date is June 3, 2014. ALLIANCE’s assets and liabilities had been reclassified to non-current assets held for sale as a disposal group. This disposal group was under new business segment.

ALLIANCE’s assets and liabilities reclassified to non-current assets held for sale as a disposal group mainly consist of:

	As of March 31, 2014
Assets
Cash and cash equivalents	$	15,617
Notes and accounts receivable		14,239
Inventories		24,165
Property, plant and equipment		6,669
Others		6,418
		67,108
Liabilities
Payables		(22,984	)
Others		(120	)
		(23,104	)
Net carrying amount of the disposal group	$	44,004

7. RELATED PARTY TRANSACTIONS

(1) Significant related party transactions

a. Operating transaction

Operating revenues

	For the three-month periods ended March 31,
	2015		2014
Associates	$	—	$	120
Joint ventures		3,548		3,417
Other related parties (Note A)		466		6,463
Total	$	4,014	$	10,000

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Note A: Transactions with other related parties are primarily from the operating transactions with SILICON INTEGRATED SYSTEMS CORP. (SIS). The amounts for the three-month periods ended March 31, 2015 and 2014 were NT$0 million and NT$6 million, respectively.

Accounts receivable, net

	As of
	March 31, 2015			December 31, 2014			March 31, 2014
Joint ventures	$	1,172		$	18,164		$	3,350
Other related parties (Note B)		347			18,127			1,562
Total		1,519			36,291			4,912
Less: Allowance for sales returns and discounts		(149	)		(269	)		(25	)
Net	$	1,370		$	36,022		$	4,887

Note B: Balances of other related parties are accounts receivables primarily from SIS. As of March 31, 2015, December 31, 2014 and March 31, 2014, the balances were NT$0 million, NT$17 million and NT$2 million, respectively.

The sales price to the above related parties was determined through mutual agreement based on the market rates. The collection periods for domestic sales to related parties were month-end 45~60 days, while the term for overseas sales was net 60 days.

b. Key management personnel compensation

	For the three-month periods ended March 31,
	2015		2014
Short-term employee benefits	$	66,085	$	60,448
Post-employment benefits		703		1,144
Termination benefits		—		1,029
Share-based payment		9		47
Others		116		117
Total	$	66,913	$	62,785

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8. ASSETS PLEDGED AS COLLATERAL

As of March 31, 2015, December 31, 2014 and March 31, 2014

	Amount
	As of
	March 31, 2015		December 31, 2014		March 31, 2014		Party to which asset(s) was pledged	Purpose of pledge
Refundable Deposits (Time deposit)	$	815,119	$	815,119	$	815,079	Customs	Customs duty guarantee
Refundable Deposits (Time deposit)		198,343		158,094		156,658	Science Park Administration	Collateral for land lease
Refundable Deposits (Time deposit)		50,402		53,202		52,800	Liquefied Natural Gas Business Division, CPC Corporation, Taiwan	Energy resources guarantee
Refundable Deposits (Time deposit)		1,246		1,246		1,246	Bureau of Energy, Ministry of Economic Affairs	Energy resources guarantee
Refundable Deposits (Time deposit)		870		870		—	National Pingtung University of Science and Technology	Guarantee for engineering project
Refundable Deposits (Time deposit)		357		357		—	National Pei-men Senior High School	Guarantee for engineering project
Refundable Deposits (Time deposit)		—		—		1,110	Hsinchu Kuang-Fu high school	Cooperative education
Land		—		—		600,664	First Commercial Bank	Collateral for long-term loans
Buildings		541,723		1,074,856		1,582,341	Syndicated Loans from Bank of Taiwan and 7 others and Syndicated Loans from Taiwan Cooperative Bank and 5 others	Collateral for long-term loans
Machinery and equipment		3,033,367		4,764,493		5,892,133	Bank of Taiwan, Cooperative Bank, First Commercial Bank, Mega International Commercial Bank, Syndicated Loans from Bank of Taiwan and 7 others and Syndicated Loans from Taiwan Cooperative Bank and 5 others	Collateral for long-term and short-term loans
Furniture and fixtures		10,976		36,217		40,221	Syndicated Loans from Bank of Taiwan and 7 others and Syndicated Loans from Taiwan Cooperative Bank and 5 others	Collateral for long-term loans
Construction in progress and equipment awaiting inspection		—		—		89,283	Bank of Taiwan, First Commercial Bank and Mega International Commercial Bank	Collateral for long-term loans
Total	$	4,652,403	$	6,904,454	$	9,231,535

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9. SIGNIFICANT CONTINGENCIES AND UNRECOGNIZED CONTRACT COMMITMENTS

(1) The Company entered into several patent license agreements and development contracts of intellectual property for a total contract amount of approximately NT$13.9 billion. As of March 31, 2015, the portion of royalties and development fees not yet recognized is NT$1.4 billion.

(2) The Company entered into several construction contracts for the expansion of its factory premise. As of March 31, 2015, these construction contracts amounted to approximately NT$17.4 billion and the portion of the contracts not yet recognized is approximately NT$8.2 billion.

(3) The Company entered into several operating lease contracts for land and office. These renewable operating leases will expire in various years through 2034. Future minimum lease payments under those leases are as follows:

Year	As of March 31, 2015
2015	$	318,199
2016		391,800
2017		353,482
2018		265,326
2019		254,807
2020 and thereafter		2,905,015
Total	$	4,488,629

(4) The Board of Directors of UMC resolved to participate in a 3-way agreement with Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP to form a company which will focus on 12’’ wafer foundry services. Based on the agreement, UMC will submit an investment application with R.O.C. government authorities for approval to invest in the company established by Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP. The Company anticipates that its investment could reach approximately US$1.4 billion in the next five years, with instalment funding starting in 2015. On December 31, 2014, UMC obtained R.O.C. government authority’s approval of the investment application for US$0.7 billion (including indirect investment). In January 2015, the Company invested RMB 0.6 billion and obtained the control over United Semiconductor (XIAMEN) CO., LTD. by acquiring more than half of the seats of the Board of Directors. Furthermore, according to the agreement, UMC recognized a financial liability as other liabilities-others, for repurchase from Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP their investments in the company at their original investment cost plus interest, beginning from the seventh year following the last instalment payment made by Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP. However, as stipulated in the agreement, in the event that the regulation of Taiwan does not allow UMC to become the sole owner of the company, UMC will not acquire 10% of Xiamen Municipal People’s Government and FUJIAN ELECTRONICS & INFORMATION GROUP’s investment.

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10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT SUBSEQUENT EVENTS

In order to integrate research and development resources, reduce operating cost and improve operating performance, WAVETEK MICROELECTRONICS CORPORATION’s Board of Directors (WAVETEK, one of the Company’s subsidiaries) resolved to merge with EPITRON TECHNOLOGY INC. (EPITRON) on January 26, 2015. Every 3.333 shares of EPITRON will be exchanged for one share of WAVETEK. WAVETEK will become the surviving company when the merger becomes effective on April 1, 2015. UMC will remain the controlling interest in WAVETEK after the merger.

12. OTHERS

(1) Categories of financial instruments

	As of
Financial Assets	March 31, 2015		December 31, 2014		March 31, 2014
Non-derivative financial instruments
Financial assets at fair value through profit or loss
Designated financial assets at fair value through profit or loss	$	147,922	$	150,550	$	98,052
Financial assets held for trading		750,058		634,811		857,157
Subtotal		897,980		785,361		955,209
Available-for-sale financial assets		26,821,106		24,362,104		24,024,645
Financial assets measured at cost		3,855,368		3,833,006		4,169,010
Loans and receivables
Cash and cash equivalents (excludes cash on hand)		53,628,371		45,697,457		53,911,599
Receivables		21,176,180		23,027,843		19,520,323
Refundable deposits		1,145,916		1,145,843		1,252,213
Other financial assets, current		2,313,713		3,134,870		3,496,369
Subtotal		78,264,180		73,006,013		78,180,504
Derivative financial instruments
Forward exchange contracts		47,292		—		—
Total	$	109,885,926	$	101,986,484	$	107,329,368

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	As of
Financial Liabilities	March 31, 2015		December 31, 2014		March 31, 2014
Non-derivative financial instruments
Financial liabilities at amortized cost
Short-term loans	$	7,216,847	$	6,250,754	$	7,516,080
Payables		25,840,057		29,172,157		22,528,684
Capacity deposit (current portion included)		67,058		70,200		83,813
Bonds payable (current portion included)		24,978,847		24,977,820		33,683,314
Long-term loans (current portion included)		13,548,186		12,198,456		10,879,301
Subtotal		71,650,995		72,669,387		74,691,192
Derivative financial instruments
Financial liabilities at fair value through profit or loss
Forward exchange contracts		—		42,354		—
Embedded derivative financial liabilities in exchangeable bonds		—		—		18,087
Subtotal		—		42,354		18,087
Total	$	71,650,995	$	72,711,741	$	74,709,279

(2) Financial risk management objectives and policies

The Company’s risk management objectives are to manage the market risk, credit risk and liquidity risk related to its operating activities. The Company identifies measures and manages the aforementioned risks based on policy and risk preference.

The Company has established appropriate policies, procedures and internal controls for financial risk management. Before entering into significant financial activities, due approval process by the Board of Directors and Audit Committee must be carried out based on related protocols and internal control procedures. The Company complies with its financial risk management policies at all times.

(3) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risks comprise of currency risk, interest rate risk, and other price risk (such as equity price risk).

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Foreign currency risk

The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s operating activities (when revenue or expense is denominated in a different currency from the Company’s functional currency) and the Company’s net investments in foreign subsidiaries.

The Company applies natural hedges on the foreign currency risk arising from purchases or sales, and utilizes spot or forward exchange contracts to avoid foreign currency risk and the net effect of the risks related to monetary financial assets and liabilities is minor. The notional amounts of the foreign currency contracts are the same as the amount of the hedged items. In principle, the Company does not carry out any forward exchange contracts for uncertain commitments. Furthermore, as net investments in foreign subsidiaries are for strategic purposes, they are not hedged by the Company.

The foreign currency sensitivity analysis of the possible change in foreign exchange rates on the Company’s profit is performed on significant monetary items denominated in foreign currencies as of the end of the reporting period. When NTD strengthens/weakens against USD by 10%, the profit for the three-month periods ended March 31, 2015 and 2014 increases/decreases by NT$130 million and NT$48 million, respectively.

Interest rate risk

The Company is exposed to interest rate risk arising from borrowing at floating interest rates. All of the Company’s bonds have fixed interest rates and are measured at amortized cost. As such, changes in interest rates would not affect the future cash flows. On the other hand, as the interest rates of the Company’s short-term and long-term bank loans are floating, changes in interest rates would affect the future cash flows but not the fair value. Please refer to Note 6(10), 6(12) and 6(13) for the range of interest rate of the Company’s bonds and bank loans.

At the reporting dates, a change of 10 basis points of interest rate in a reporting period could cause the profit for the three-month periods ended March 31, 2015 and 2014 to decrease/increase by NT$5 million and NT$5 million, respectively.

Equity price risk

The Company’s listed and unlisted equity securities are susceptible to market price risk arising from uncertainties about future performance of equity markets. The Company’s listed equity investments are classified as financial assets at fair value through profit or loss and available-for-sale financial assets, while unlisted equity securities are classified as available-for-sale financial assets which are subsequently measured using a valuation model and financial assets measured at cost.

89

The sensitivity analysis for the equity instruments is based on the change in fair value as of the reporting date. A change of 5% in the price of the aforementioned financial assets at fair value through profit or loss could increase/decrease the Company’s profit for the three-month periods ended March 31, 2015 and 2014 by NT$18 million and NT$23 million, respectively. A change of 5% in the price of the aforementioned available-for-sale financial instrument could increase/decrease the Company’s other comprehensive income for the three-month periods ended March 31, 2015 and 2014 by NT$1,340 million and NT$1,199 million, respectively.

(4) Credit risk management

The Company only trades with approved and creditworthy third parties. Where the Company trades with third parties which have less favorable financial positions, it will request collateral from them. It is the Company’s policy that all customers who wish to trade on credit terms are subject to credit verification procedures. In addition, notes and accounts receivable balances are monitored on an ongoing basis, which consequently minimizes the Company’s exposure to bad debts.

The Company mitigates the credit risks from financial institutions by limiting its counter parties to only reputable domestic or international financial institutions with good credit standing and spreading its holdings among various financial institutions. The Company’s exposure to credit risk arising from the default of counter-parties is limited to the carrying amount of these instruments.

As of March 31, 2015, December 31, 2014 and March 31, 2014, accounts receivables from the top ten customers represent 52%, 57% and 51% of the total accounts receivables of the Company, respectively. The credit concentration risk of other accounts receivables is insignificant.

(5) Liquidity risk management

The Company’s objectives are to maintain a balance between continuity of funding and flexibility through the use of cash and cash equivalents, bank loans and bonds.

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The table below summarizes the maturity profile of the Company’s financial liabilities based on the contractual undiscounted payments and contractual maturity:

	As of March 31, 2015
	Less than 1 year			2 to 3 years		4 to 5 years		> 5 years		Total
Non-derivative financial liabilities
Short-term loans	$	7,285,486		$	—	$	—	$	—	$	7,285,486
Payables		25,531,415			—		—		6,945,022		32,476,437
Capacity deposits		—			67,058		—		—		67,058
Bonds payable		578,999			15,666,412		5,306,554		5,287,785		26,839,750
Long-term loans		3,836,559			8,318,661		1,945,574		1,142		14,101,936
Total	$	37,232,459		$	24,052,131	$	7,252,128	$	12,233,949	$	80,770,667
	As of December 31, 2014
	Less than 1 year			2 to 3 years		4 to 5 years		> 5 years		Total
Non-derivative financial liabilities
Short-term loans	$	6,299,905		$	—	$	—	$	—	$	6,299,905
Payables		28,816,995			—		—		104,952		28,921,947
Capacity deposits		—			70,200		—		—		70,200
Bonds payable		622,936			8,197,725		10,339,221		7,818,618		26,978,500
Long-term loans		3,947,580			7,528,391		1,144,247		—		12,620,218
Total	$	39,687,416		$	15,796,316	$	11,483,468	$	7,923,570	$	74,890,770
Derivative financial liabilities
Forward exchange contracts
Inflow	$	3,249,080		$	—	$	—	$	—	$	3,249,080
Outflow		(3,291,434	)		—		—		—		(3,291,434	)
Net	$	(42,354	)	$	—	$	—	$	—	$	(42,354	)
	As of March 31, 2014
	Less than 1 year			2 to 3 years		4 to 5 years		> 5 years		Total
Non-derivative financial liabilities
Short-term loans	$	7,564,796		$	—	$	—	$	—	$	7,564,796
Payables		22,391,013			—		—		—		22,391,013
Capacity deposits		238			83,575		—		—		83,813
Bonds payable		14,397,985			573,500		15,272,912		5,043,304		35,287,701
Long-term loans		3,337,767			7,093,319		817,385		—		11,248,471
Total	$	47,691,799		$	7,750,394	$	16,090,297	$	5,043,304	$	76,575,794

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(6) Foreign currency risk management

UMC entered into forward exchange contracts for hedging the exchange rate risk arising from the net assets or liabilities denominated in foreign currency. The details of forward exchange contracts entered into by UMC are summarized as follows:

As of March 31, 2015

Type	Notional Amount	Contract Period
Forward exchange contracts	Sell USD 172 million	February 25, 2015~April 23, 2015

(7) Fair value of financial instruments

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 —	Quoted (unadjusted) market prices in active markets for identical assets or liabilities;
Level 2 —	Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable;
Level 3 —	Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

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For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

a. Assets and liabilities measured and recorded at fair value on a recurring basis:

	As of March 31, 2015
	Level 1		Level 2		Level 3		Total
Financial assets:
Financial assets at fair value through profit or loss, current	$	750,058	$	150,876	$	—	$	900,934
Financial assets at fair value through profit or loss, noncurrent		—		44,338		—		44,338
Available-for-sale financial assets, noncurrent		19,349,074		157,413		7,314,619		26,821,106

	As of December 31, 2014
	Level 1		Level 2		Level 3		Total
Financial assets:
Financial assets at fair value through profit or loss, current	$	634,811	$	105,318	$	—	$	740,129
Financial assets at fair value through profit or loss, noncurrent		—		45,232		—		45,232
Available-for-sale financial assets, noncurrent		18,174,030		170,922		6,017,152		24,362,104
Financial liabilities:
Financial liabilities at fair value through profit or loss, current		—		42,354		—		42,354

	As of March 31, 2014
	Level 1		Level 2		Level 3		Total
Financial assets:
Financial assets at fair value through profit or loss, current	$	857,157	$	—	$	—	$	857,157
Available-for-sale financial assets, current		2,313,818		—		—		2,313,818
Financial assets at fair value through profit or loss, noncurrent		23,518		74,534		—		98,052
Available-for-sale financial assets, noncurrent		17,388,120		202,053		4,120,654		21,710,827
Financial liabilities:
Financial liabilities at fair value through profit or loss, current		—		18,087		—		18,087

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Fair values of financial assets at fair value through profit or loss and available-for-sale financial assets that are categorized into level 1 are based on the quoted market prices in active market. If there is no active market, the Company estimates the fair value by using the market method valuation techniques based on parameters such as recent fund raising activities, valuation of similar companies, individual company’s development, market conditions and other economic indicators. If there are restrictions on the sale or transfer of an available-for-sale financial asset, which are a characteristic of the asset, the fair value of the asset will be determined based on similar but unrestricted financial assets’ quoted market price with appropriate discounts for the restrictions.

The Company issued exchangeable bonds which contain a compound derivative instrument, comprising of the exchange option with a fixed foreign exchange rate feature and a call option. The compound derivative instrument is classified as liabilities carried at fair value through profit or loss. The derivatives are fair valued using a valuation model. The valuation model uses the market-based observable inputs including share price, volatility, credit spread, and swap rates.

During the three-month periods ended March 31, 2015 and 2014, there were no significant transfers between Level 1 and Level 2 fair value measurements.

Reconciliations for fair value measurement in Level 3 fair value hierarchy were as follows:

	Available-for-sale financial assets
	Common stock			Funds			Preferred stock			Total
As of January 1, 2015	$	5,236,004		$	—		$	781,148		$	6,017,152
Recognized in profit (loss)		(4,563	)		—			—			(4,563	)
Recognized in other comprehensive income (loss)		473,465			—			—			473,465
Acquisition		1,376,000			8,529			38,700			1,423,229
Transfer to Level 3		35,916			—			—			35,916
Transfer out of Level 3		(625,193	)		—			—			(625,193	)
Exchange effect		(2,256	)		(91	)		(3,040	)		(5,387	)
As of March 31, 2015	$	6,489,373		$	8,438		$	816,808		$	7,314,619

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	Available-for-sale financial assets
	Common stock			Funds		Preferred stock		Total
As of January 1, 2014	$	3,517,733		$	—	$	312,600	$	3,830,333
Recognized in other comprehensive income (loss)		364,552			—		—		364,552
Disposal		(10,223	)		—		—		(10,223	)
Transfer out of Level 3		(64,261	)		—		—		(64,261	)
As of March 31, 2014	$	3,807,801		$	—	$	312,600	$	4,120,401

Recognized as part of profit (loss) above, the loss from financial assets still held by the Company as of March 31, 2015 and 2014 were NT$5 million and nil, respectively.

Recognized as part of other comprehensive income (loss) above, the income from financial assets still held by the Company as of March 31, 2015 and 2014 were NT$107 million and NT$386 million, respectively.

Transfers between different levels of fair value hierarchy for the financial assets held by the Company were caused by the occurrence of certain events or the change of environment.

b. Assets and liabilities not recorded at fair value on a recurring basis but for which fair value is disclosed:

The fair value of bonds payables is estimated by the market price or estimated using valuation model. The model uses market-based observable inputs including share price, volatility, credit spread and swap rates. The fair value of long-term loans is determined using discounted cash flow model, based on the Company’s current incremental borrowing rates of similar loans.

The fair values of the Company’s short-term financial instruments including cash and cash equivalents, receivables, refundable deposits, other financial assets, current, short-term loans, payables and capacity deposits approximate their carrying amount due to their maturities within one year.

As of March 31, 2015

			Fair value measurements during reporting period using
Items	Fair value		Level 1		Level 2		Level 3		Book value
Bonds payables (current portion included)	$	25,094,518	$	25,094,518	$	—	$	—	$	24,978,847
Long-term loans (current portion included)		13,548,186		—		13,548,186		—		13,548,186

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(8) Significant assets and liabilities denominated in foreign currencies

	As of
	March 31, 2015							December 31, 2014
	Foreign Currency (thousand)		Exchange Rate		NTD (thousand)			Foreign Currency (thousand)		Exchange Rate		NTD (thousand)
Financial Assets
Monetary items
USD	$	1,756,995		31.23	$	54,875,748		$	1,767,638		31.56	$	55,781,155
JPY		7,787,884		0.2555		1,989,505			8,964,201		0.2610		2,340,081
EUR		6,857		33.37		228,814			20,071		38.30		768,728
SGD		36,463		22.69		827,353			38,173		23.90		912,326
RMB		1,822,866		5.02		9,150,767			83,347		5.08		423,046
Non-Monetary items
USD		96,396		31.17		3,004,322			85,296		31.40		2,678,468
CHF		—		—		—			1,590		31.97		50,829
JPY		5,000,000		0.2586		1,293,000			—		—		—
Financial Liabilities
Monetary items
USD		587,565		31.34		18,412,141			648,436		31.67		20,535,974
JPY		8,269,067		0.2627		2,172,284			9,918,471		0.2673		2,651,207
EUR		4,378		33.87		148,297			20,970		38.75		812,579
SGD		46,009		22.87		1,052,230			39,493		24.08		950,992
RMB		9,801		5.07		49,689			9,737		5.13		49,914
The exchange gain or loss from monetary financial assets and liabilities
USD						(18,634	)						363,831
JPY						42,296							(45,899	)
EUR						(7,035	)						38,945
SGD						(12,403	)						(10,838	)
RMB						(3,018	)						9,521
Other						(78,474	)						(22,285	)

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	As of
	March 31, 2014
	Foreign Currency (thousand)		Exchange Rate		NTD (thousand)
Financial Assets
Monetary items
USD	$	1,814,734		30.40	$	55,170,104
JPY		5,014,423		0.2923		1,465,904
EUR		14,776		41.68		615,906
SGD		32,058		24.09		772,281
RMB		110,701		4.88		539,758
Non-Monetary items
USD		72,670		30.41		2,210,125
CHF		1,980		34.29		67,900
Financial Liabilities
Monetary items
USD		653,840		30.51		19,950,627
JPY		4,820,555		0.2983		1,437,972
EUR		3,507		42.15		147,819
SGD		39,234		24.27		952,198
RMB		29,173		4.93		143,706
The exchange gain or loss from monetary financial assets and liabilities
USD						43,133
JPY						(37,730	)
EUR						10,041
SGD						(2,363	)
RMB						(2,274	)
Other						11,297

(9) Significant intercompany transactions among consolidated entities for the three-month periods ended March 31, 2015 and 2014 are disclosed in Attachment 1.

(10) Capital management

The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios to support its business and maximize the stockholders’ value. The Company also ensures its ability to operate continuously to provide returns to stockholders and the interests of other related parties, while maintaining the optimal capital structure to reduce costs of capital.

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To maintain or adjust the capital structure, the Company may adjust the dividend payment to stockholders, return capital to stockholders, issue new shares or dispose assets to redeem liabilities.

Similar to its peers, the Company monitors its capital based on debt to capital ratio. The ratio is calculated as the Company’s net debt divided by its total capital. The net debt is derived by taking the total liabilities on the consolidated balance sheets minus cash and cash equivalents. The total capital consists of total equity (including capital, additional paid-in capital, retained earnings, other components of equity and non-controlling interests) plus net debt.

The Company has maintained the same capital management strategy for the three-month period ended March 31, 2015 as compared to the three-month period ended March 31, 2014, which is to maintain a reasonable ratio in order to raise capital with reasonable cost. The debt to capital ratios as of March 31, 2015, December 31, 2014 and March 31, 2014 were as follows:

	As of
	March 31, 2015			December 31, 2014			March 31, 2014
Total liabilities	$	91,802,574		$	88,236,797		$	83,852,108
Less: Cash and cash equivalents		(53,632,056	)		(45,701,335	)		(53,915,155	)
Net debt		38,170,518			42,535,462			29,936,953
Total equity		229,262,232			225,008,851			217,775,311
Total capital	$	267,432,750		$	267,544,313		$	247,712,264
Debt to capital ratios		14.27	%		15.90	%		12.09	%

13. ADDITIONAL DISCLOSURES

(1) The following are additional disclosures for the Company and its affiliates as required by the R.O.C. Securities and Futures Bureau:

a. Financing provided to others for the three-month period ended March 31, 2015: Please refer to Attachment 2.

b. Endorsement/Guarantee provided to others for the three-month period ended March 31, 2015: Please refer to Attachment 3.

98

c. Securities held as of March 31, 2015 (excluding subsidiaries, associates and joint venture): Please refer to Attachment 4.

d. Individual securities acquired or disposed of with accumulated amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015: Please refer to Attachment 5.

e. Acquisition of individual real estate with amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015: Please refer to Attachment 6.

f. Disposal of individual real estate with amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015: Please refer to Attachment 7.

g. Related party transactions for purchases and sales amounts exceeding the lower of NT$100 million or 20 percent of the capital stock for the three-month period ended March 31, 2015: Please refer to Attachment 8.

h. Receivables from related parties with amounts exceeding the lower of NT$100 million or 20 percent of capital stock as of March 31, 2015: Please refer to Attachment 9.

i. Names, locations and related information of investees as of March 31, 2015 (excluding investment in Mainland China): Please refer to Attachment 10.

j. Financial instruments and derivative transactions: Please refer to Note 12.

(2) Investment in Mainland China

a. Investee company name, main businesses and products, total amount of capital, method of investment, accumulated inflow and outflow of investments from Taiwan, net income (loss) of investee company, percentage of ownership, investment income (loss), book value of investments, cumulated inward remittance of earnings and limits on investment in Mainland China: Please refer to Attachment 11.

b. Directly or indirectly significant transactions through third regions with the investees in Mainland China, including price, payment terms, unrealized gain or loss, and other events with significant effects on the operating results and financial condition: None.

99

14. OPERATING SEGMENT INFORMATION

The Company determined its operating segments based on business activities with discrete financial information regularly reported through the Company’s internal reporting protocols to the Company’s chief operating decision maker. The Company is organized into business units based on its products and services. As of March 31, 2015, the Company had the following segments: wafer fabrication and new business. There were no material differences between the accounting policies, described in Note 4, and those applied by the operating segments. The primary operating activity of the wafer fabrication segment is the manufacture of chips to the design specifications of our customers by using our own proprietary processes and techniques. The Company maintains a diversified customer base across industries, including communication, consumer electronics, computer, memory and others, while continuing to focus on manufacturing for high growth, large volume applications, including networking, telecommunications, internet, multimedia, PCs and graphics. New business segment primarily includes researching, developing, manufacturing, and providing solar energy and new generation light-emitting diode (LED).

Reportable segment information for the three-month periods ended March 31, 2015 and 2014 were as follows:

	For the three-month period ended March 31, 2015
	Wafer Fabrication			New Business			Subtotal			Adjustment and Elimination			Consolidated
Net revenue from external customers	$	35,977,553		$	1,672,091		$	37,649,644		$	—		$	37,649,644
Net revenue from sales among intersegments		21,941			852			22,793			(22,793	)		—
Segment net income (loss), net of tax		4,033,392			(343,078	)		3,690,314			222,158			3,912,472
Capital expenditure		14,852,641			40,093			14,892,734			—			14,892,734
Depreciation		10,103,393			207,404			10,310,797			—			10,310,797
Share of profit or loss of associates and joint ventures		(157,612	)		(22,740	)		(180,352	)		222,158			41,806
Income tax expense (benefit)		442,431			(793	)		441,638			—			441,638
Impairment loss		288,620			—			288,620			—			288,620

100

	For the three-month period ended March 31, 2014
	Wafer Fabrication			New Business			Subtotal			Adjustment and Elimination			Consolidated
Net revenue from external customers	$	28,696,723		$	2,996,862		$	31,693,585		$	—		$	31,693,585
Net revenue from sales among intersegments		15,495			1,714			17,209			(17,209	)		—
Segment net income (loss), net of tax		1,212,783			(218,362	)		994,421			116,386			1,110,807
Capital expenditure		6,223,531			53,060			6,276,591			—			6,276,591
Depreciation		8,890,061			560,169			9,450,230			—			9,450,230
Share of profit or loss of associates and joint ventures		(148,704	)		(3,063	)		(151,767	)		116,386			(35,381	)
Income tax expense (benefit)		182,385			(1,609	)		180,776			—			180,776
Impairment loss		92,519			—			92,519			—			92,519

	As of March 31, 2015
	Wafer Fabrication		New Business		Subtotal		Adjustment and Elimination (Note)			Consolidated
Segment assets	$	313,077,848	$	12,610,457	$	325,688,305	$	(4,623,499	)	$	321,064,806
Segment liabilities	$	84,929,689	$	6,901,798	$	91,831,487	$	(28,913	)	$	91,802,574

	As of December 31, 2014
	Wafer Fabrication		New Business		Subtotal		Adjustment and Elimination (Note)			Consolidated
Segment assets	$	304,022,185	$	13,622,342	$	317,644,527	$	(4,398,879	)	$	313,245,648
Segment liabilities	$	80,166,502	$	8,096,635	$	88,263,137	$	(26,340	)	$	88,236,797

	As of March 31, 2014
	Wafer Fabrication		New Business		Subtotal		Adjustment and Elimination (Note)			Consolidated
Segment assets	$	289,748,658	$	17,831,557	$	307,580,215	$	(5,952,796	)	$	301,627,419
Segment liabilities	$	73,880,051	$	9,994,324	$	83,874,375	$	(22,267	)	$	83,852,108

Note:  The adjustment primarily consisted of elimination entries for wafer fabrication segment’s investments in new business segment that was accounted for under the equity method.

101

ATTACHMENT 1 (Significant intercompany transactions between consolidated entities)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

For the three-month period ended March 31, 2015

	Related party	Counterparty	Relationship with the Company (Note 2)		Transactions
No. (Note 1)					Account	Amount		Terms (Note 3)		Percentage of consolidated operating revenues or consolidated total assets (Note 4)
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP (USA)		1	Sales	$	16,480,498		Net 60 days		44	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP (USA)		1	Accounts receivable		9,319,139		—		3	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP JAPAN		1	Sales		2,002,635		Net 60 days		5	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP JAPAN		1	Accounts receivable		1,526,217		—		0	%

For the three-month period ended March 31, 2014

	Related party	Counterparty	Relationship with the Company (Note 2)		Transactions
No. (Note 1)					Account	Amount		Terms (Note 3)		Percentage of consolidated operating revenues or consolidated total assets (Note 4)
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP (USA)		1	Sales	$	12,727,101		Net 60 days		40	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP (USA)		1	Accounts receivable		6,404,100		—		2	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP JAPAN		1	Sales		775,820		Net 60 days		2	%
0	UNITED MICROELECTRONICS CORPORATION	UMC GROUP JAPAN		1	Accounts receivable		677,416		—		0	%

Note 1: UMC and its subsidiaries are coded as follows:

1. UMC is coded “0”.

2. The subsidiaries are coded consecutively beginning from “1” in the order presented in the table above.

Note 2: Transactions are categorized as follows:

1. The holding company to subsidiary.

2. Subsidiary to holding company.

3. Subsidiary to subsidiary.

Note 3: The sales price to the above related parties was determined through mutual agreement based on the market conditions.

Note 4: The percentage with respect to the consolidated asset/liability for transactions of balance sheet items are based on each item’s balance at period-end.

For profit or loss items, cumulative balances are used as basis.

102

ATTACHMENT 2 (Financing provided to others for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

TERA ENERGY DEVELOPMENT CO., LTD.

No. (Note 1)	Lender	Counter-party	Financial statement account	Related Party		Maximum balance for the period		Ending balance		Actual amount provided		Interest rate			Nature of financing		Amount of sales to (purchases from) counter- party		Reason for financing		Allowance for doubtful accounts		Collateral				Limit of financing amount for individual counter- party (Note2)		Limit of total financing amount (Note2)
																							Item		Value
1	TERA ENERGY DEVELOPMENT CO., LTD.	TIPPING POINT ENERGY COC PPA SPE-1, LLC	Other receivables		No	$	2,936	$	2,936	$	2,936		9.00	%		Need for operating	$	2,936		—	$	2,936		None	$	—	$	74,314	$	118,903
																														.

NEXPOWER TECHNOLOGY CORPORATION

No. (Note 1)	Lender	Counter-party	Financial statement account	Related Party		Maximum balance for the period		Ending balance		Actual amount provided		Interest rate			Nature of financing	Amount of sales to (purchases from) counter- party		Reason for financing	Allowance for doubtful accounts		Collateral				Limit of financing amount for individual counter- party (Note3)		Limit of total financing amount (Note3)
																					Item		Value
1	NEXPOWER TECHNOLOGY CORPORATION	SOCIALNEX ITALIA 1 S.R.L.	Other receivables - related parties		Yes	$	6,694	$	—	$	—		7.00	%	The need for short term financing	$	—	Business turnover	$	—		None	$	—	$	107,735	$	861,882

Note 1: The parent company and its subsidiaries are coded as follows:

(i) The parent company is coded “0”.

(ii) The subsidiaries are coded consecutively beginning from “1” in the order presented in the table above.

Note 2: Limit of financing amount for individual counter-party including guarantee amount shall not exceed 25% of the lender’s net assets value as of the period or the needed amount for operation, which is higher.

Limit of total financing amount shall not exceed 40% of the lender’s net assets of value as of March 31, 2015.

Note 3: Limit of financing amount for individual counter-party shall not exceed 5% of the lender’s net assets value as of the period or the needed amount for operation, which is lower.

Limit of total financing amount shall not exceed 40% of the lender’s net assets of value as of March 31, 2015.

103

ATTACHMENT 3 (Endorsement/Guarantee provided to others for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

No. (Note 1)	Endorsor/Guarantor	Receiving party		Limit of guarantee/endorsement amount for receiving party (Note 3)		Maximum balance for the period		Ending balance (Note 5)		Actual amount provided (Note 5)		Amount of collateral guarantee/ endorsement		Percentage of accumulated guarantee amount to net assets value from the latest financial statement			Limit of total guarantee/ endorsement amount (Note 4)
		Company name	Releationship (Note 2)
0	UNITED MICROELECTRONICS CORPORATION	NEXPOWER TECHNOLOGY CORPORATION	3	$	11,271,483	$	3,100,000	$	1,700,000	$	1,385,000	$	—		0.75	%	$	45,085,932

NEXPOWER TECHNOLOGY CORPORATION

No. (Note 1)	Endorsor/Guarantor	Receiving party		Limit of guarantee/endorsement amount for receiving party (Note 3)		Maximum balance for the period		Ending balance		Actual amount provided		Amount of collateral guarantee/ endorsement		Percentage of accumulated guarantee amount to net assets value from the latest financial statement			Limit of total guarantee/ endorsement amount (Note 6)
		Company name	Releationship (Note 2)
0	NEXPOWER TECHNOLOGY CORPORATION	SOCIALNEX ITALIA 1 S.R.L.	2	$	107,735	$	18,668	$	18,668	$	18,668	$	18,668		0.87	%	$	861,882

Note 1: The parent company and its subsidiaries are coded as follows:

1. The parent company is coded “0”.

2. The subsidiaries are coded consecutively beginning from “1” in the order presented in the table above.

Note 2: According to the “Guidelines Governing the Preparation of Financial Reports by Securities Issuers” issued by the R.O.C. Securities and Futures Bureau, receiving parties should be disclosed as one of the following:

1. A company that has a business relationship with endorsor/guarantor.

2. A subsidary in which endorsor/guarantor holds directly over 50% of equity interest.

3. An investee in which endorsor/guarantor and its subsidiaries hold over 50% of equity interest.

4. An investor which holds directly or indirectly over 50% of equity interest of endorsor/guarantor.

5. A company that has provided guarantees to endorsor/guarantor, and vice versa, due to contractual requirements.

6. An investee in which endorsor/guarantor conjunctly invests with other shareholders, and for which endorsor/guarantor has

provided endorsement/guarantee in proportion to its shareholding percentage.

Note 3: The amount of guarantees/endorsements shall not exceed 20% of the net worth of endorsor/guarantor; and the ceilings on the amount of guarantees/endorsements for any single entity are as follows:

1. The amount of guarantees/endorsements for any single entity shall not exceed 5% of net worth of endorsor/guarantor.

2. The amount of guarantees/endorsements for a company which endorsor/guarantor does business with, except the ceiling rules

abovementioned shall not exceed the needed amounts arising from business dealings which is the higher amount of total sales or

purchase transactions between endorsor/guarantor and the receiving party.

The aggregate amount of guarantees/endorsements that the Company as a whole is permitted to make shall not exceed 40% of

the Company’s net worth, and the aggregate amount of guarantees/endorsements for any single entity shall not exceed 20% of

the Company’s net worth.

Note 4: Limit of total guaranteed/endorsed amount shall not exceed 20% of UMC’s net assets value as of March 31, 2015.

Note 5: On December 24, 2014, the board of directors resolved to provide endorsement to NEXPOWER TECHNOLOGY CORPORATION’s (NEXPOWER) syndicated loan from banks including Bank of Taiwan for the amount up to NT$1,700 million.

As of March 31, 2015, actual amount provided was NT$1,385 million.

Note 6: Limit of total guaranteed/endorsed amount shall not exceed 40% of NEXPOWER’s net assets value as of December 31, 2014.

104

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

				March 31, 2015
Type of securities	Name of securities	Relationship	Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value		Percentage of ownership (%)		Fair value/ Net assets value		Shares as collateral (thousand)
Bonds	CATHAY FINANCIAL HOLDING CO., LTD.	—	Financial assets at fair value through profit or loss, current		380	$	386,752		—	$	386,752		None
Stock	ACTION ELECTRONICS CO., LTD.	—	Financial assets at fair value through profit or loss, current		18,182		120,002		6.44		120,002		None
Stock	MICRONAS SEMICONDUCTOR HOLDING AG	—	Financial assets at fair value through profit or loss, current		1,600		167,200		1.22		167,200		None
Stock	KING YUAN ELECTRONICS CO., LTD.	—	Financial assets at fair value through profit or loss, current		2,675		76,104		0.22		76,104		None
Stock	SILICON INTEGRATED SYSTEMS CORP.	The Company’s director	Available-for-sale financial assets, noncurrent		120,892		1,026,373		19.70		1,026,373		None
Stock	UNIMICRON HOLDING LIMITED	—	Available-for-sale financial assets, noncurrent		20,000		656,250		17.67		656,250		None
Stock	UNITED FU SHEN CHEN TECHNOLOGY CORP.	—	Available-for-sale financial assets, noncurrent		17,511		—		15.75		—		None
Stock	FARADAY TECHNOLOGY CORP.	—	Available-for-sale financial assets, noncurrent		57,067		2,596,550		13.78		2,596,550		None
Stock	UNIMICRON TECHNOLOGY CORP.	—	Available-for-sale financial assets, noncurrent		196,136		3,981,561		12.75		3,981,561		None
Stock	HOLTEK SEMICONDUCTOR INC.	—	Available-for-sale financial assets, noncurrent		25,944		1,533,306		11.47		1,533,306		None
Stock	ASIA PACIFIC MICROSYSTEMS, INC.	—	Available-for-sale financial assets, noncurrent		14,857		148,571		11.01		148,571		None
Stock	MIE FUJITSU SEMICONDUCTOR LIMITED		Available-for-sale financial assets, noncurrent		10,000		1,293,000		9.28		1,293,000		None
Stock	ITE TECH. INC.	—	Available-for-sale financial assets, noncurrent		13,960		550,023		8.84		550,023		None
Stock	UNITED INDUSTRIAL GASES CO., LTD.	—	Available-for-sale financial assets, noncurrent		16,680		1,340,047		7.66		1,340,047		None
Stock	PROMOS TECHNOLOGIES INC.	—	Available-for-sale financial assets, noncurrent		164,990		—		6.49		—		None
Stock	AMIC TECHNOLOGY CORP.	—	Available-for-sale financial assets, noncurrent		5,627		—		4.71		—		None
Stock	SUBTRON TECHNOLOGY CO., LTD.	—	Available-for-sale financial assets, noncurrent		12,521		194,822		4.23		194,822		None
Stock	NOVATEK MICROELECTRONICS CORP.	—	Available-for-sale financial assets, noncurrent		16,445		2,664,023		2.70		2,664,023		None
Stock	KING YUAN ELECTRONICS CO., LTD.	—	Available-for-sale financial assets, noncurrent		23,158		658,836		1.94		658,836		None
Stock	EPISTAR CORP.	—	Available-for-sale financial assets, noncurrent		10,715		540,036		0.97		540,036		None
Stock	TOPOINT TECHNOLOGY CO., LTD.	—	Available-for-sale financial assets, noncurrent		1,315		42,086		0.83		42,086		None
Stock- Preferred stock	TAIWAN HIGH SPEED RAIL CORP.	—	Available-for-sale financial assets, noncurrent		30,000		300,000		—		300,000		None
Stock	PIXTECH, INC.	—	Financial assets measured at cost, noncurrent		9,883		—		17.63		Note		None
Stock	OCTTASIA INVESTMENT HOLDING INC.	—	Financial assets measured at cost, noncurrent		6,692		196,071		9.29		Note		None
Stock	EMIVEST AEROSPACE CORP.	—	Financial assets measured at cost, noncurrent		1,124		—		1.50		Note		None
Stock- Preferred stock	MTIC HOLDINGS PTE. LTD.	—	Financial assets measured at cost, noncurrent		12,000		263,460		—		N/A		None

105

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

Name of securities

Relationship

Financial statement account

March 31, 2015

Type of securities

Units (thousand)/ bonds/ shares (thousand)

Book value

Percentage of ownership (%)

Fair value/ Net assets value

Shares as collateral (thousand)

Stock-Preferred stock

TONBU, INC.

—

Financial assets measured at cost, noncurrent

938

$

—

—

N/A

None

Stock-Preferred stock

AETAS TECHNOLOGY INC.

—

Financial assets measured at cost, noncurrent

1,166

—

—

N/A

None

Stock-Preferred stock

TASHEE GOLF & COUNTRY CLUB

—

Financial assets measured at cost, noncurrent

0

60

—

N/A

None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

FORTUNE VENTURE CAPITAL CORP.

					March 31, 2015
Type of securities	Name of securities	Relationship		Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value		Percentage of ownership (%)		Fair value/ Net assets value		Shares as collateral (thousand)
Stock	CLIENTRON CORP.		—	Available-for-sale financial assets, noncurrent		14,060	$	267,215		19.53	$	267,215		None
Stock	ACT GENOMICS CO.,LTD.		—	Available-for-sale financial assets, noncurrent		3,600		45,000		14.17		45,000		None
Stock	OCULON OPTOELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		1,947		—		11.73		—		None
Stock	BCOM ELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		1,572		10,886		11.73		10,886		None
Stock	EVERGLORY RESOURCE TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		2,500		19,454		10.23		19,454		None
Stock	UWIZ TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		4,530		52,593		9.14		52,593		None
Stock	ADVANCE MATERIALS CORP.		—	Available-for-sale financial assets, noncurrent		11,910		124,260		8.67		124,260		None
Stock	AREC INC.		—	Available-for-sale financial assets, noncurrent		1,109		15,080		8.34		15,080		None
Stock	AWISE FIBER TECH.CO.,LTD.		—	Available-for-sale financial assets, noncurrent		1,519		3,418		8.31		3,418		None
Stock	ELE-CON TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		2,530		49,259		7.83		49,259		None
Stock	EPITRON TECHNOLOGY INC.		—	Available-for-sale financial assets, noncurrent		2,450		8,233		7.78		8,233		None
Stock	BORA PHARMACEUTICALS CO., LTD. (formerly BORA CORP.)		—	Available-for-sale financial assets, noncurrent		1,700		200,600		7.57		200,600		None
Stock	SHIN-ETSU HANDOTAI TAIWAN CO., LTD.		—	Available-for-sale financial assets, noncurrent		10,500		105,000		7.00		105,000		None
Stock	EXCELLENCE OPTOELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		8,529		130,870		6.62		130,870		None
Stock	MERIDIGEN BIOTECH CO., LTD.		—	Available-for-sale financial assets, noncurrent		3,300		66,000		6.13		66,000		None
Stock	PRIMESENSOR TECHNOLOGY INC.		—	Available-for-sale financial assets, noncurrent		1,225		7,180		5.79		7,180		None
Stock	CANDMARK ELECTROPTICS CO., LTD. (formerly CANDMARK ENTERPRISE CO., LTD.)		—	Available-for-sale financial assets, noncurrent		3,801		69,938		5.28		69,938		None
Stock	ACTI CORP.		—	Available-for-sale financial assets, noncurrent		1,968		53,720		5.25		53,720		None
Stock	ANDES TECHNOLOGY CORP.		—	Available-for-sale financial assets, noncurrent		1,732		138,540		4.86		138,540		None
Stock	LUMITEK CORP.		—	Available-for-sale financial assets, noncurrent		1,785		—		4.81		—		None
Stock	LUMINESCENCE TECHNOLOGY CORP.		—	Available-for-sale financial assets, noncurrent		524		18,328		4.33		18,328		None
Stock	AMOD TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		358		5,383		4.33		5,383		None
Stock	SOLID STATE SYSTEM CO., LTD.		—	Available-for-sale financial assets, noncurrent		3,000		87,660		4.24		87,660		None

106

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

FORTUNE VENTURE CAPITAL CORP.

				March 31, 2015
Type of securities	Name of securities	Relationship	Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value		Percentage of ownership (%)		Fair value/ Net assets value		Shares as collateral (thousand)
Stock	WALTOP INTERNATIONAL CORP.	—	Available-for-sale financial assets, noncurrent		1,275	$	4,883		4.02	$	4,883		None
Stock	MOBILE DEVICES INC.	—	Available-for-sale financial assets, noncurrent		2,309		—		3.96		—		None
Stock	DAWNING LEADING TECHNOLOGY INC.	—	Available-for-sale financial assets, noncurrent		10,133		132,743		3.78		132,743		None
Stock	SUBTRON TECHNOLOGY CO., LTD.	—	Available-for-sale financial assets, noncurrent		10,129		157,604		3.43		157,604		None
Stock	TOPOINT TECHNOLOGY CO., LTD.	—	Available-for-sale financial assets, noncurrent		4,907		157,019		3.09		157,019		None
Stock	DRAMEXCHANGE TECH. INC.	—	Available-for-sale financial assets, noncurrent		336		3,634		2.48		3,634		None
Stock	SUPERALLOY INDUSTRIAL CO., LTD.	—	Available-for-sale financial assets, noncurrent		4,603		586,852		2.31		586,852		None
Stock	CRYSTALWISE TECHNOLOGY INC.	—	Available-for-sale financial assets, noncurrent		4,321		125,953		2.06		125,953		None
Stock	LICO TECHNOLOGY CORP.	—	Available-for-sale financial assets, noncurrent		2,520		—		2.03		—		None
Stock	ALL-STARS XMI LTD.	—	Available-for-sale financial assets, noncurrent		7		217,980		1.37		217,980		None
Stock	WIESON TECHNOLOGIES CO., LTD.	—	Available-for-sale financial assets, noncurrent		842		11,952		1.27		11,952		None
Stock	NIEN MADE ENTERPRISE CO., LTD.	—	Available-for-sale financial assets, noncurrent		2,698		399,282		1.19		399,282		None
Stock	POWERTEC ENERGY CORP.	—	Available-for-sale financial assets, noncurrent		18,700		89,199		1.10		89,199		None
Stock	HIGH POWER OPTOELECTRONICS, INC.	—	Available-for-sale financial assets, noncurrent		1,530		—		0.53		—		None
Stock	MERCURIES LIFE INSURANCE CO., LTD.	—	Available-for-sale financial assets, noncurrent		5,054		89,456		0.37		89,456		None
Stock	ASIA PACIFIC MICROSYSTEMS, INC.	—	Available-for-sale financial assets, noncurrent		475		4,746		0.35		4,746		None
Stock	UNITED MICROELECTRONICS CORP.	Parent company	Available-for-sale financial assets, noncurrent		16,079		249,220		0.13		249,220		None
Stock	GLOBALWAFERS CO., LTD.	—	Available-for-sale financial assets, noncurrent		184		16,837		0.05		16,837		None
Stock	DARCHUN VENTURE CORP.	—	Financial assets measured at cost, noncurrent		3,335		33,345		19.65		Note		None
Stock	GOLDEN TECHNOLOGY VENTURE CAPITAL INVESTMENT CORP.	—	Financial assets measured at cost, noncurrent		766		587		10.67		Note		None
Stock	NCTU SPRING I TECHNOLOGY VENTURE CAPITAL INVESTMENT CORP.	—	Financial assets measured at cost, noncurrent		269		—		10.06		Note		None
Stock	RISELINK VENTURE CAPITAL CORP.	—	Financial assets measured at cost, noncurrent		5,398		50,618		6.67		Note		None
Stock	PARAWIN VENTURE CAPITAL CORP.	—	Financial assets measured at cost, noncurrent		3,600		27,896		5.00		Note		None
Stock	IBT VENTURE CORP.	—	Financial assets measured at cost, noncurrent		193		450		3.81		Note		None
Stock	ANIMATION TECHNOLOGIES INC.	—	Financial assets measured at cost, noncurrent		265		—		3.16		Note		None
Stock	FIRST INTERNATIONAL TELECOM CORP.	—	Financial assets measured at cost, noncurrent		4,610		—		1.02		Note		None
Fund	IGLOBE PARTNERS FUND, L.P.	—	Financial assets measured at cost, noncurrent		—		12,092		—		N/A		None
Stock-Preferred stock	AEVOE INTERNATIONAL LTD.	—	Financial assets measured at cost, noncurrent		4,170		181,286		—		N/A		None
Stock-Preferred stock	REALLUSION (CAYMAN) HOLDING INC.	—	Financial assets measured at cost, noncurrent		1,872		14,696		—		N/A		None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

107

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

TLC CAPITAL CO., LTD.

					March 31, 2015
Type of securities	Name of securities	Relationship		Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value		Percentage of ownership (%)		Fair value/ Net assets value		Shares as collateral (thousand)
Convertible bonds	EASOU HOLDINGS COMPANY LIMITED (formerly YETI GROUP LTD.)		—	Financial assets at fair value through profit or loss, current		—	$	103,584		—	$	103,584		None
Convertible bonds	WINKING ENTERTAINMENT LTD.		—	Financial assets at fair value through profit or loss, noncurrent		—		44,338		—		44,338		None
Stock	VSENSE CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,851		46,282		17.06		46,282		None
Stock	BEAUTY ESSENTIALS INTERNATIONAL LTD.		—	Available-for-sale financial assets, noncurrent		150,500		273,910		15.65		273,910		None
Stock	SUPERALLOY INDUSTRIAL CO., LTD.		—	Available-for-sale financial assets, noncurrent		9,804		1,249,994		4.93		1,249,994		None
Stock	ACTI CORP.		—	Available-for-sale financial assets, noncurrent		1,500		40,950		4.00		40,950		None
Stock	CANDMARK ELECTROPTICS CO., LTD. (formerly CANDMARK ENTERPRISE CO., LTD.)		—	Available-for-sale financial assets, noncurrent		2,772		51,009		3.85		51,009		None
Stock	ASIA PACIFIC MICROSYSTEMS, INC.		—	Available-for-sale financial assets, noncurrent		4,086		40,857		3.03		40,857		None
Stock	WIESON TECHNOLOGIES CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,775		25,191		2.67		25,191		None
Stock	COLAND HOLDINGS LTD.		—	Available-for-sale financial assets, noncurrent		1,344		96,218		1.72		96,218		None
Stock	SIMPLO TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		4,110		647,294		1.33		647,294		None
Stock	NIEN MADE ENTERPRISE CO., LTD.		—	Available-for-sale financial assets, noncurrent		2,698		399,282		1.19		399,282		None
Stock	TOPOINT TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,859		59,480		1.17		59,480		None
Stock	ALL-STARS XMI LTD.		—	Available-for-sale financial assets, noncurrent		6		186,840		1.17		186,840		None
Stock	POWERTEC ENERGY CORP.		—	Available-for-sale financial assets, noncurrent		18,700		89,199		1.10		89,199		None
Stock	TXC CORP.		—	Available-for-sale financial assets, noncurrent		1,978		79,219		0.64		79,219		None
Stock	MERCURIES LIFE INSURANCE CO., LTD.		—	Available-for-sale financial assets, noncurrent		7,588		134,309		0.56		134,309		None
Stock	CHIPMOS TECHNOLOGIES INC.		—	Available-for-sale financial assets, noncurrent		2,288		107,650		0.26		107,650		None
Stock	GLOBALWAFERS CO., LTD.		—	Available-for-sale financial assets, noncurrent		184		16,837		0.05		16,837		None
Stock	CHUNGHWA TELECOM CO., LTD.		—	Available-for-sale financial assets, noncurrent		2,015		200,493		0.03		200,493		None
Stock	KU6 MEDIA CO., LTD.		—	Available-for-sale financial assets, noncurrent		0.078		—		0.00		—		None
Stock-Preferred stock	HIGHLANDER FINANCIAL GROUP CO., LTD.		—	Available-for-sale financial assets, noncurrent		16,663		149,550		—		149,550		None
Stock-Preferred stock	X2 POWER TECHNOLOGIES LIMITED		—	Available-for-sale financial assets, noncurrent		22,500		70,383		—		70,383		None
Stock	WINKING ENTERTAINMENT LTD.		—	Financial assets measured at cost, noncurrent		1,461		12,996		—		Note		None
Stock-Preferred stock	TOUCH MEDIA INTERNATIONAL HOLDINGS		—	Financial assets measured at cost, noncurrent		7,575		293,729		—		N/A		None
Stock-Preferred stock	EASOU HOLDINGS COMPANY LIMITED (formerly YETI GROUP LTD.)		—	Financial assets measured at cost, noncurrent		14,356		265,326		—		N/A		None
Stock-Preferred stock	WINKING ENTERTAINMENT LTD.		—	Financial assets measured at cost, noncurrent		4,971		198,222		—		N/A		None
Stock-Preferred stock	ALO7.COM LTD.		—	Financial assets measured at cost, noncurrent		2,606		183,678		—		N/A		None
Stock-Preferred stock	IMO, INC.		—	Financial assets measured at cost, noncurrent		8,519		150,266		—		N/A		None
Stock-Preferred stock	YOUJIA GROUP LTD.		—	Financial assets measured at cost, noncurrent		2,685		105,016		—		N/A		None
Stock-Preferred stock	ADWO MEDIA HOLDINGS LTD.		—	Financial assets measured at cost, noncurrent		6,664		109,821		—		N/A		None
Stock-Preferred stock	IAPPPAY TECHNOLOGY LTD.		—	Financial assets measured at cost, noncurrent		1,004		103,355		—		N/A		None
Fund	H&QAP GREATER CHINA GROWTH FUND, L.P.		—	Financial assets measured at cost, noncurrent		—		24,947		—		N/A		None
Stock	MONTAGE TECHNOLOGY GLOBAL HOLDINGS, LTD.		—	Prepayment for investments		125		90,824		—		—		None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

108

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITRUTH INVESTMENT CORP.

					March 31, 2015
Type of securities	Name of securities	Relationship		Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value		Percentage of ownership (%)		Fair value/ Net assets value		Shares as collateral (thousand)
Stock	OCULON OPTOELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		1,288	$	—		7.77	$	—		None
Stock	BCOM ELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		1,030		7,130		7.68		7,130		None
Stock	AREC INC.		—	Available-for-sale financial assets, noncurrent		986		13,404		7.41		13,404		None
Stock	UWIZ TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		3,410		39,593		6.88		39,593		None
Stock	AWISE FIBER TECH.CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,089		2,449		5.95		2,449		None
Stock	EXCELLENCE OPTOELECTRONICS INC.		—	Available-for-sale financial assets, noncurrent		6,374		97,801		4.94		97,801		None
Stock	EVERGLORY RESOURCE TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,200		9,338		4.91		9,338		None
Stock	EPITRON TECHNOLOGY INC.		—	Available-for-sale financial assets, noncurrent		1,528		5,136		4.86		5,136		None
Stock	ADVANCE MATERIALS CORP.		—	Available-for-sale financial assets, noncurrent		6,039		63,004		4.39		63,004		None
Stock	AMOD TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		314		4,723		3.80		4,723		None
Stock	ELE-CON TECHNOLOGY CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,190		23,177		3.69		23,177		None
Stock	CANDMARK ELECTROPTICS CO., LTD. (formerly CANDMARK ENTERPRISE CO., LTD.)		—	Available-for-sale financial assets, noncurrent		2,037		37,487		2.83		37,487		None
Stock	DRAMEXCHANGE TECH. INC.		—	Available-for-sale financial assets, noncurrent		336		3,634		2.48		3,634		None
Stock	TAIWANJ PHARMACEUTICALS CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,000		30,000		2.22		30,000		None
Stock	WALTOP INTERNATIONAL CORP.		—	Available-for-sale financial assets, noncurrent		687		2,630		2.17		2,630		None
Stock	ACTI CORP.		—	Available-for-sale financial assets, noncurrent		752		20,518		2.01		20,518		None
Stock	LUMITEK CORP.		—	Available-for-sale financial assets, noncurrent		683		—		1.84		—		None
Stock	SUPERALLOY INDUSTRIAL CO., LTD.		—	Available-for-sale financial assets, noncurrent		1,133		144,443		0.57		144,443		None
Stock	MOBILE DEVICES INC.		—	Available-for-sale financial assets, noncurrent		300		—		0.51		—		None
Stock	WIESON TECHNOLOGIES CO., LTD.		—	Available-for-sale financial assets, noncurrent		266		3,768		0.40		3,768		None
Stock	HIGH POWER OPTOELECTRONICS, INC.		—	Available-for-sale financial assets, noncurrent		510		—		0.18		—		None
Stock	ASIA PACIFIC MICROSYSTEMS, INC.		—	Available-for-sale financial assets, noncurrent		247		2,468		0.18		2,468		None
Stock	MERCURIES LIFE INSURANCE CO., LTD.		—	Available-for-sale financial assets, noncurrent		2,316		40,985		0.17		40,985		None
Stock	NIEN MADE ENTERPRISE CO., LTD.		—	Available-for-sale financial assets, noncurrent		284		42,030		0.13		42,030		None
Stock	CLIENTRON CORP.		—	Available-for-sale financial assets, noncurrent		80		1,520		0.11		1,520		None

109

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UMC CAPITAL CORP.

					March 31, 2015
Type of securities	Name of securities	Relationship		Financial statement account	Units (thousand)/ bonds/ shares (thousand)		Book value			Percentage of ownership (%)		Fair value/ Net assets value			Shares as collateral (thousand)
Capital	TRANSLINK MANAGEMENT III, L.L.C.		—	Available-for-sale financial assets, noncurrent		—		USD	49		16.00		USD	49		None
Fund	STORM VENTURES FUND V, L.P.		—	Available-for-sale financial assets, noncurrent		—		USD	270		2.89		USD	270		None
Stock	MOBILE IRON, INC.		—	Available-for-sale financial assets, noncurrent		1,205		USD	11,154		1.56		USD	11,154		None
Stock	ALL-STARS XMI LTD.		—	Available-for-sale financial assets, noncurrent		7		USD	7,000		1.37		USD	7,000		None
Stock	PARADE TECHNOLOGIES, LTD.		—	Available-for-sale financial assets, noncurrent		226		USD	2,129		0.30		USD	2,129		None
American Depositary Shares	CHUNGHWA TELECOM CO., LTD.		—	Available-for-sale financial assets, noncurrent		200		USD	6,407		0.03		USD	6,407		None
Stock-Preferred stock	CNEX LABS, INC.		—	Available-for-sale financial assets, noncurrent		2,071		USD	3,000		—		USD	3,000		None
Stock-Preferred stock	GLYMPSE, INC.		—	Available-for-sale financial assets, noncurrent		1,159		USD	4,000		—		USD	4,000		None
Stock-Preferred stock	ATSCALE, INC.		—	Available-for-sale financial assets, noncurrent		4,374		USD	2,500		—		USD	2,500		None
Stock	OCTTASIA INVESTMENT HOLDING INC.		—	Financial assets measured at cost, noncurrent		7,035		USD	7,035		—			Note		None
Stock	CIPHERMAX, INC.		—	Financial assets measured at cost, noncurrent		95			—		—			Note		None
Stock-Preferred stock	GCT SEMICONDUCTOR, INC.		—	Financial assets measured at cost, noncurrent		175		USD	1,000		—			N/A		None
Stock-Preferred stock	FORTEMEDIA, INC.		—	Financial assets measured at cost, noncurrent		12,241		USD	5,828		—			N/A		None
Stock-Preferred stock	SIFOTONICS TECHNOLOGIES CO., LTD.		—	Financial assets measured at cost, noncurrent		3,500		USD	3,000		—			N/A		None
Stock-Preferred stock	NEVO ENERGY, INC. (formerly SOLARGEN ENERGY INC.)		—	Financial assets measured at cost, noncurrent		4,980		USD	4,980		—			N/A		None
Stock-Preferred stock	TRILLIANT HOLDINGS, INC.		—	Financial assets measured at cost, noncurrent		4,000		USD	5,000		—			N/A		None
Stock-Preferred stock	SWIFTSTACK, INC.		—	Financial assets measured at cost, noncurrent		2,140		USD	3,208		—			N/A		None
Stock-Preferred stock	THISMOMENT, INC.		—	Financial assets measured at cost, noncurrent		4,064		USD	4,008		—			N/A		None
Stock-Preferred stock	NEXENTA SYSTEMS, INC.		—	Financial assets measured at cost, noncurrent		2,891		USD	3,500		—			N/A		None
Stock-Preferred stock	ALPINE ANALYTICS, INC.		—	Financial assets measured at cost, noncurrent		1,749		USD	4,500		—			N/A		None
Stock-Preferred stock	CLOUDWORDS, INC.		—	Financial assets measured at cost, noncurrent		4,191		USD	5,000		—			N/A		None
Stock-Preferred stock	ZYLOGIC SEMICONDUCTOR CORP.		—	Financial assets measured at cost, noncurrent		750			—		—			N/A		None
Stock-Preferred stock	WISAIR, INC.		—	Financial assets measured at cost, noncurrent		173			—		—			N/A		None
Stock-Preferred stock	EAST VISION TECHNOLOGY LTD.		—	Financial assets measured at cost, noncurrent		2,770			—		—			N/A		None
Stock-Preferred stock	EV2 HOLDINGS, INC. (formerly ENVERV, INC.)		—	Financial assets measured at cost, noncurrent		1,621			—		—			N/A		None
Fund	VENGLOBAL CAPITAL FUND III, L.P.		—	Financial assets measured at cost, noncurrent		—		USD	651		—			N/A		None
Fund	TRANSLINK CAPITAL PARTNERS II, L.P.		—	Financial assets measured at cost, noncurrent		—		USD	2,455		—			N/A		None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

110

ATTACHMENT 4 (Securities held as of March 31, 2015) (Excluding subsidiaries, associates and joint ventures)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UMC NEW BUSINESS INVESTMENT CORP.

March 31, 2015

Type of securities

Name of securities

Relationship

Financial statement account

Units (thousand)/ bonds/ shares (thousand)

Book value

Percentage of ownership (%)

Fair value/ Net assets value

Shares as collateral (thousand)

Stock

SOLARGATE TECHNOLOGY CORPORATION

—

Available-for-sale financial assets, noncurrent

957

$

—

15.94

$

—

None

Stock

WIN WIN PRECISION TECHNOLOGY CO., LTD.

—

Available-for-sale financial assets, noncurrent

3,150

49,613

6.93

49,613

None

Stock

LICO TECHNOLOGY CORPORATION

—

Available-for-sale financial assets, noncurrent

4,089

—

3.29

—

None

Stock

POWERTEC ENERGY CORPORATION

—

Available-for-sale financial assets, noncurrent

10,000

47,700

0.59

47,700

None

Fund

PAMIRS FUND SEGREGATED PORTFOLIO II

—

Available-for-sale financial assets, noncurrent

2

69,753

—

69,753

None

TERA ENERGY DEVELOPMENT CO., LTD.

March 31, 2015

Type of securities

Name of securities

Relationship

Financial statement account

Units (thousand)/ bonds/ shares (thousand)

Book value

Percentage of ownership (%)

Fair value/ Net assets value

Shares as collateral (thousand)

Stock

TIAN TAI YI ENERGY CO., LTD.

—

Financial assets measured at cost- noncurrent

437

$

4,367

5.56

Note

None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

EVERRICH (SHANDONG) ENERGY CO., LTD.

March 31, 2015

Type of securities

Name of securities

Relationship

Financial statement account

Units (thousand)/ bonds/ shares (thousand)

Book value

Percentage of ownership (%)

Fair value/ Net assets value

Shares as collateral (thousand)

Capital

GOLMUD SOLARGIGA ENERGY ELECTRIC POWER CO., LTD.

—

Financial assets measured at cost, noncurrent

—

RMB

10,000

10.00

Note

None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

NEXPOWER TECHNOLOGY CORPORATION

March 31, 2015

Type of securities

Name of securities

Relationship

Financial statement account

Units (thousand)/ bonds/ shares (thousand)

Book value

Percentage of ownership (%)

Fair value/ Net assets value

Shares as collateral (thousand)

Stock

PACIFIC-GREEN INTEGRATED TECHNOLOGY INC.

—

Financial assets measured at cost- noncurrent

54

$

3,244

18.00

Note

None

Note : The net assets values for unlisted investees classified as “Financial assets measured at cost, noncurrent” were not available as of March 31, 2015.

111

ATTACHMENT 5 (Individual securities acquired or disposed of with accumulated amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

Type of securities

Name of the securities

Financial statement account

Counter-party

Relationship

Beginning balance

Addition

Disposal

Ending balance

Units (thousand)/ bonds/ shares (thousand)

Amount (Note 1)

Units (thousand)/ bonds/ shares (thousand)

Amount

Units (thousand)/ bonds/ shares (thousand)

Amount

Cost

Gain (Loss) from disposal

Units (thousand)/ bonds/ shares (thousand)

Amount (Note 1)

Stock

MIE FUJITSU SEMICONDUCTOR LIMITED

Available- for-sale financial assets, noncurrent

Purchase of newly issued shares

—

—

$

—

10,000

$

1,331,000

—

$

—

$

—

$

—

10,000

$

1,293,000

Stock

WAVETEK MICROELECTRONICS CORPORATION

Investments accounted for under the equity method

Purchase of newly issued shares

Subsidiary

80,683

456,760

45,547

455,470

—

—

—

—

126,230

911,115 (Note 2)

Note 1:

Theamounts of beginning and ending balances of available for sale financial assets are recorded at the prevailing market prices. The amounts of beginning and ending balances of investments accounted for under the equity method include adjustment under the equity method.

Note 2:

Theending balance includes share of income of associates and joint ventures of NT$3,087 thousand, retained earnings adjustment under equity method of NT$(3,794) thousand, additional paid- in capital adjustment under equity method of NT$(391) thousand amd exchange differences on translation of foreign operations adjustment under equity method of NT$(17) thousand.

HEJIAN TECHNOLOGY (SUZHOU) CO., LTD.

Type of securities

Name of the securities

Financial statement account

Counter-party

Relationship

Beginning balance

Addition

Disposal

Ending balance

Units (thousand)/ bonds/ shares (thousand)

Amount (Note 1)

Units (thousand)/ bonds/ shares (thousand)

Amount

Units (thousand)/ bonds/ shares (thousand)

Amount

Cost

Gain (Loss) from disposal

Units (thousand)/ bonds/ shares (thousand)

Amount (Note 1)

Capital

UNITED SEMICONDUCTOR (XIAMEN) CO., LTD.

Investments accounted for under the equity method

Purchase of newly issued shares

Subsidiary

—

—

—

USD

100,000

—

—

—

—

—

USD98,495 (Note 2)

Note 1:     The amounts of beginning and ending balances of investments accounted for under the equity method include adjustment under the equity method.

Note 2:

Theending balance includes share of lose of associates and joint ventures of USD (48) thousand, additional paid-in capital adjustment under equity method of USD 6 thousand and exchange differences on translation of foreign operations adjustment under equity method of USD (1,463) thousand.

112

ATTACHMENT 6 (Acquisition of individual real estate with amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

Where counter-party is a related party, details of prior transactions

Name of properties

Transaction date

Transaction amount

Payment status

Counter-party

Relationship

Former holder of property

Relationship between former holder and acquirer of property

Date of transaction

Transaction amount

Price reference

Date of acquisition and status of utilization

Other commitments

Dormitory

2015.03.09

$432,190

By the construction progress

YIH SHIN CONSTRUCTION CO., LTD

Third party

N/A

N/A

N/A

N/A

Open Bidding

Employee Dormitory

None

UNITED SEMICONDUCTOR (XIAMEN) CO., LTD.

Where counter-party is a related party, details of prior transactions

Name of properties

Transaction date

Transaction amount

Payment status

Counter-party

Relationship

Former holder of property

Relationship between former holder and acquirer of property

Date of transaction

Transaction amount

Price reference

Date of acquisition and status of utilization

Other commitments

Fab

2015.03.20

RMB 193,000

By the construction progress

FUJIAN TUNG KANG STEEL CO., LTD

Third Party

N/A

N/A

N/A

N/A

Open Bidding

Manufacturing purpose

None

113

ATTACHMENT 7 (Disposal of individual real estate with amount exceeding the lower of NT$300 million or 20 percent of the capital stock for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

Names of properties	Transaction date	Date of original acquisition	Book value	Transaction amount	Status of proceeds collection	Gain (Loss) from disposal	Counter-party	Relationship	Reason of disposal	Price reference	Other commitments
None

114

ATTACHMENT 8 ( Related party transactions for purchases and sales amounts exceeding the lower of NT$100 million or 20 percent of capital stock for the three-month period ended March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

Transactions

Details of non-arm’s length transaction

Notes and accounts receivable (payable)

Note

Counter-party

Relationship

Purchases (Sales)

Amount

Percentage of total purchases (sales)

Term

Unit price

Term

Balance

Percentage of total receivables (payable)

UMC GROUP (USA)

Subsidiary

Sales

$

16,480,498

49

%

Net 60 Days

N/

A

N/

A

$

9,319,139

45

%

UMC GROUP JAPAN

Subsidiary

Sales

2,002,635

6

%

Net 60 Days

N/

A

N/

A

1,526,217

7

%

UMC GROUP (USA)

Transactions

Details of non-arm’s length transaction

Notes and accounts receivable (payable)

Note

Counter-party

Relationship

Purchases (Sales)

Amount

Percentage of total purchases (sales)

Term

Unit price

Term

Balance

Percentage of total receivables (payable)

UNITED MICROELECTRONICS CORPORATION

Parent company

Purchases

USD

522,637

99

%

Net 60 Days

N/A

N/A

USD

298,212

99

%

HEJIAN TECHNOLOGY (SUZHOU) CO., LTD.

Associate

Purchases

USD

5,206

1

%

Net 60 Days

N/A

N/A

USD

3,636

1

%

UMC GROUP JAPAN

Transactions

Details of non-arm’s length transaction

Notes and accounts receivable (payable)

Note

Counter-party

Relationship

Purchases (Sales)

Amount

Percentage of total purchases (sales)

Term

Unit price

Term

Balance

Percentage of total receivables (payable)

UNITED MICROELECTRONICS CORPORATION

Parent company

Purchases

JPY

7,381,739

98

%

Net 60 Days

N/

A

N/

A

JPY

5,869,926

98

%

HEJIAN TECHNOLOGY (SUZHOU) CO., LTD.

Transactions

Details of non-arm’s length transaction

Notes and accounts receivable (payable)

Note

Counter-party

Relationship

Purchases (Sales)

Amount

Percentage of total purchases (sales)

Term

Unit price

Term

Balance

Percentage of total receivables (payable)

UMC GROUP (USA)

Associate

Sales

USD

5,206

7%

Net 60 Days

N/A

N/A

USD

3,636

8

%

115

ATTACHMENT 9 (Receivables from related parties with amounts exceeding the lower of NT$100 million or 20 percent of capital stock as of March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

			Ending balance								Turnover rate (times)		Overdue receivables				Amount received in subsequent period		Allowance for doubtful accounts
Counter-party	Relationship		Notes receivable		Accounts receivable		Other receivables		Total				Amount		Collection status
UMC GROUP (USA)		Subsidiary	$	—	$	9,319,139	$	32	$	9,319,171		7.99	$	—		—	$	4,437,906	$	8,256
UMC GROUP JAPAN		Subsidiary		—		1,526,217		24		1,526,241		5.87		112,949		Collection in subsequent period		—		—

HEJIAN TECHNOLOGY (SUZHOU) CO., LTD.

Ending balance

Turnover rate (times)

Overdue receivables

Amount received in subsequent period

Allowance for doubtful accounts

Counter-party

Relationship

Notes receivable

Accounts receivable

Other receivables

Total

Amount

Collection status

UMC GROUP (USA)

Associate

—

USD

3,636

—

USD

3,636

6.76

—

—

—

—

116

ATTACHMENT 10 (Names, locations and related information of investee companies as of March 31, 2015) (Not including investment in Mainland China)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UNITED MICROELECTRONICS CORPORATION

Investee company	Address	Main businesses and products	Initial Investment				Investment as of March 31, 2015												Note
			Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized
UMC GROUP (USA)	USA	IC Sales	USD	16,438	USD	16,438		16,438		100.00	$	1,615,274	$	33,983		$	33,983
UNITED MICROELECTRONICS (EUROPE) B.V.	The Netherlands	Marketing support activities	USD	5,421	USD	5,421		9		100.00		134,738		586			586
UMC CAPITAL CORP.	Cayman Islands	Investment holding	USD	81,500	USD	81,500		71,663		100.00		5,021,089		163,717			163,717
GREEN EARTH LIMITED	Samoa	Investment holding	USD	10,000	USD	10,000		10,000		100.00		243,657		(1,818	)		(1,818	)
TLC CAPITAL CO., LTD.	Taipei City, Taiwan	New business investment		6,000,000		6,000,000		486,150		100.00		7,325,520		(55,400	)		(55,400	)
UMC NEW BUSINESS INVESTMENT CORP.	Taipei City, Taiwan	Investment holding		6,000,000		6,000,000		600,000		100.00		2,210,499		(57,504	)		(57,504	)
UMC INVESTMENT (SAMOA) LIMITED	Samoa	Investment holding	USD	1,520	USD	1,520		1,520		100.00		45,820		(268	)		(268	)
FORTUNE VENTURE CAPITAL CORP.	Taipei City, Taiwan	Consulting and planning for investment in new business		5,000,053		5,000,053		458,800		100.00		6,196,059		(13,484	)		(13,484	)
UMC GROUP JAPAN	Japan	IC Sales	JPY	60,000	JPY	60,000		1		100.00		69,363		20,372			20,372
UMC KOREA CO., LTD.	Korea	Marketing support activities	KRW	550,000	KRW	550,000		110		100.00		17,367		198			198
OMNI GLOBAL LIMITED	Samoa	Investment holding	USD	3,000	USD	3,000		3,000		100.00		44,105		(255	)		(255	)
BEST ELITE INTERNATIONAL LIMITED	British Virgin Islands	Investment holding	USD	235,089	USD	235,089		597,682		86.88		18,517,083		425,973			370,102
WAVETEK MICROELECTRONICS CORPORATION	Hsinchu City, Taiwan	GaAs Foundry service		1,707,482		1,252,012		126,230		82.52		911,115		3,831			3,087
MTIC HOLDINGS PTE. LTD.	Singapore	Investment holding	SGD	12,000	SGD	12,000		12,000		45.44		99,277		(1,881	)		(833	)
MEGA MISSION LIMITED PARTNERSHIP	Cayman Islands	Investment holding	USD	67,500	USD	67,500		—		45.00		2,016,474		178,567			80,355
NEXPOWER TECHNOLOGY CORP.	Taichung City, Taiwan	Sales and manufacturing of solar power batteries		5,331,885		5,331,885		215,283		44.16		821,260		(278,357	)		(122,917	)
UNITECH CAPITAL INC.	British Virgin Islands	Investment holding	USD	21,000	USD	21,000		21,000		42.00		696,358		(9,446	)		(3,967	)
HSUN CHIEH INVESTMENT CO., LTD.	Taipei City, Taiwan	Investment holding		336,241		336,241		130,489		36.49		3,935,110		(12,999	)		(4,743	)

117

ATTACHMENT 10 (Names, locations and related information of investee companies as of March 31, 2015) (Not including investment in Mainland China)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

FORTUNE VENTURE CAPITAL CORP.

Investee company	Address	Main businesses and products	Initial Investment				Investment as of March 31, 2015												Note
			Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized
UNITRUTH INVESTMENT CORP.	Taipei City, Taiwan	Investment holding	$	800,000	$	800,000		132,660		100.00	$	1,032,566	$	25,431		$	25,431
MOS ART PACK CORP.	Hsinchu City, Taiwan	IC Packaging		290,000		290,000		29,000		54.45		177,849		—			—			Note
TOPCELL SOLAR INTERNATIONAL CO., LTD.	Taoyuan City, Taiwan	Sales and manufacturing of solar power cell		1,032,692		1,032,692		71,363		26.04		362,209		(18,850	)		(4,909	)
NEXPOWER TECHNOLOGY CORP.	Taichung City, Taiwan	Sales and manufacturing of solar power batteries		718,930		718,930		29,194		5.99		111,368		(278,357	)		(16,669	)

Note: On March 10, 2011, MOS ART PACK CORP. (MAP) reached the decesion of liquidation at it’s stockholders’ meeting. The Company had ceased to recognize investment income of MAP thereafter.

TLC CAPITAL CO., LTD.

			Initial Investment				Investment as of March 31, 2015
Investee company	Address	Main businesses and products	Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized			Note
SOARING CAPITAL CORP.	Samoa	Investment holding	USD	900	USD	900		900		100.00	$	16,486	$	(591	)	$	(591	)
LIST EARN ENTERPRISE INC.	Samoa	Investment holding	USD	309	USD	309		309		49.00		10,441		22			11
YUNG LI INVESTMENTS, INC.	Taipei City, Taiwan	Investment holding		240,800		280,000		24,080		45.16		233,281		(3,265	)		(1,475	)
CTC CAPITAL PARTNERS I, L.P.	Cayman Islands	Investment holding	USD	3,872	USD	3,872		—		31.40		197,984		(1,460	)		(458	)
NEXPOWER TECHNOLOGY CORP.	Taichung City, Taiwan	Sales and manufacturing of solar power batteries		778,019		778,019		28,601		5.87		109,105		(278,357	)		(16,330	)
TOPCELL SOLAR INTERNATIONAL CO., LTD.	Taoyuan City, Taiwan	Sales and manufacturing of solar power cell		384,140		384,140		6,508		2.37		49,280		(18,850	)		(448	)

UNITRUTH INVESTMENT CORP.

			Initial Investment				Investment as of March 31, 2015
Investee company	Address	Main businesses and products	Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized			Note
MOS ART PACK CORP.	Hsinchu City, Taiwan	IC Packaging	$	98,690	$	98,690		9,869		18.53	$	60,524	$	—		$	—			Note
NEXPOWER TECHNOLOGY CORP.	Taichung City, Taiwan	Sales and manufacturing of solar power batteries		309,700		309,700		10,990		2.25		41,925		(278,357	)		(6,275	)
TOPCELL SOLAR INTERNATIONAL CO., LTD.	Taoyuan City, Taiwan	Sales and manufacturing of solar power cell		165,272		165,272		2,815		1.03		19,472		(18,850	)		(193	)

Note: On March 10, 2011, MOS ART PACK CORP. (MAP) reached the decesion of liquidation at it’s stockholders’ meeting. The Company had ceased to recognize investment income of MAP thereafter.

118

ATTACHMENT 10 (Names, locations and related information of investee companies as of March 31, 2015) (Not including investment in Mainland China)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

UMC CAPITAL CORP.

Investee company	Address	Main businesses and products	Initial Investment				Investment as of March 31, 2015						Net income (loss) of investee company			Investment income (loss) recognized			Note
			Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value
UMC CAPITAL (USA)	USA	Investment holding	USD	200	USD	200		200		100.00	USD	493	USD	(15	)	USD	(15	)
ECP VITA PTE. LTD.	Singapore	Insurance	USD	9,000	USD	9,000		9,000		100.00	USD	14,420	USD	432		USD	432
TRANSLINK CAPITAL PARTNERS III, L.P.	Cayman Islands	Investment holding	USD	6,000	USD	6,000		—		27.29	USD	6,422	USD	894		USD	127
ACHIEVE MADE INTERNATIONAL LTD.	British Virgin Islands	Internet Content Provider	USD	11,035	USD	11,035		2,724		23.32	USD	5,248	USD	(265	)	USD	(26	)
TRANSLINK CAPITAL PARTNERS I, L.P.	Cayman Islands	Investment holding	USD	2,498	USD	3,382		—		10.38	USD	3,237	USD	2,227		USD	185
UMC NEW BUSINESS INVESTMENT CORP.
			Initial Investment				Investment as of March 31, 2015
Investee company	Address	Main businesses and products	Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized			Note
TERA ENERGY DEVELOPMENT CO., LTD.	Hsinchu City, Taiwan	Energy Technical Services	$	230,754	$	230,754		31,655		100.00	$	278,229	$	(6,993	)	$	(7,904	)
UNISTARS CORPORATION	Hsinchu County, Taiwan	High brightness LED packages		477,240		477,240		33,194		78.72		136,391		(18,590	)		(14,633	)
TOPCELL SOLAR INTERNATIONAL CO., LTD.	Taoyuan City, Taiwan	Sales and manufacturing of solar power cell		3,404,527		3,404,527		170,931		62.38		826,176		(18,851	)		(11,758	)		Note 1
UNITED LIGHTING OPTO-ELECTRONIC INC.	Hsinchu City, Taiwan	LED lighting manufacturing and sale		266,772		266,772		8,949		55.25		9,586		—			—			Note 2
WINAICO IMMOBILIEN GMBH	Germany	Solar project	EUR	5,900	EUR	5,900		5,900		32.78		153,916		(11,809	)		(9,102	)
UNITED LED CORPORATION HONG KONG LIMITED	Hongkong	Investment holding	USD	22,500	USD	22,500		22,500		25.14		526,521		(40,723	)		(11,294	)
Note 1: TOPCELLSOLAR INTERNATIONAL CO., LTD. will merged with Motech Industries Inc. on July 1, 2015, and Motech Industries Inc. will be the surviving company. The book vale of NT$826,176 thousand was reclassed from “Investments accounted for under the equity method” to “Non-current assets held for sale”.
Note 2:On June 19, 2012, UNITED LIGHTING OPTO-ELECTRONIC INC. has filed for liquidation through a decision at its stockholders’ meeting. The Company had ceased to recognize investment income of UNITED LIGHTING OPTO-ElECTRONIC INC. thereafter.
TERA ENERGY DEVELOPMENT CO., LTD.
			Initial Investment				Investment as of March 31, 2015
Investee company	Address	Main businesses and products	Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value		Net income (loss) of investee company			Investment income (loss) recognized			Note
TERA ENERGY USA INC.	USA	Solar project	$	535	$	535		0		100.00	$	13	$	(1	)	$	(1	)
EVERRICH ENERGY INVESTMENT (HK) LIMITED	Hongkong	Investment holding	USD	1,092	USD	1,725		1,092		100.00		119,655		(457	)		(457	)
SMART ENERGY ENTERPRISES LIMITED	Hongkong	Investment holding	USD	0	USD	0		1,821		100.00		27		(0	)		(0	)
WINAICO SOLAR PROJEKT 1 GMBH	Germany	Solar project	EUR	1,120	EUR	1,120		1,120		50.00		30,036		(1,854	)		(927	)
WINAICO IMMOBILIEN GMBH	Germany	Solar project	EUR	2,160	EUR	2,160		2,160		12.00		57,957		(11,809	)		(1,417	)

119

ATTACHMENT 10 (Names, locations and related information of investee companies as of March 31, 2015) (Not including investment in Mainland China)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

WAVETEK MICROELECTRONICS CORPORATION

Investee company

Address

Main businesses and products

Initial Investment

Investment as of March 31, 2015

Net income (loss) of investee company

Investment income (loss) recognized

Note

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

WAVETEK MICROELECTRONICS INVESTMENT (SAMOA) LIMITED

Samoa

Investment holding

USD

600

USD

600

600

100.00

$

8,023

$

(1,783

)

$

(1,783

)

WAVETEK MICROELECTRONICS INVESTMENT (SAMOA) LIMITED

Investee company

Address

Main businesses and products

Initial Investment

Investment as of March 31, 2015

Net income (loss) of investee company

Investment income (loss) recognized

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

Note

WAVETEK MICROELECTRONICS CORPORATION (USA)

USA

Sales and marketing service

USD

60

USD

60

60

100.00

$

2,089

$

25

$

25

NEXPOWER TECHNOLOGY CORPORATION

Initial Investment

Investment as of March 31, 2015

Investee company

Address

Main businesses and products

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

Net income (loss) of investee company

Investment income (loss) recognized

Note

SOCIALNEX ITALIA 1 S.R.L.

Italy

Photovoltaic power plant

EUR

3,637

EUR

3,637

—

100.00

$

115,624

$

957

$

957

NPT HOLDING LIMITED

Samoa

Investment holding

USD

0

USD

0

0

100.00

0

—

—

NPT HOLDING LIMITED

Investee company

Address

Main businesses and products

Initial Investment

Investment as of March 31, 2015

Net income (loss) of investee company

Investment income (loss) recognized

Note

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

NLL HOLDING LIMITED

Samoa

Investment holding

USD

0

USD

0

0

100.00

$

0

$

—

$

—

BEST ELITE INTERNATIONAL LIMITED

Investee company

Address

Main businesses and products

Initial Investment

Investment as of March 31, 2015

Net income (loss) of investee company

Investment income (loss) recognized

Note

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

INFOSHINE TECHNOLOGY LIMITED

British Virgin Islands

Investment holding

USD

354,000

USD

354,000

—

100.00

USD

325,745

USD

13,665

USD

13,665

INFOSHINE TECHNOLOGY LIMITED

Investee company

Address

Main businesses and products

Initial Investment

Investment as of March 31, 2015

Net income (loss) of investee company

Investment income (loss) recognized

Note

Ending balance

Beginning balance

Number of shares (thousand)

Percentage of ownership (%)

Book value

OAKWOOD ASSOCIATES LIMITED

British Virgin Islands

Investment holding

USD

354,000

USD

354,000

—

100.00

USD

325,745

USD

13,665

USD

13,665

120

ATTACHMENT 10 (Names, locations and related information of investee companies as of March 31, 2015) (Not including investment in Mainland China)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

OMNI GLOBAL LIMITED

Investee company	Address		Main businesses and products	Initial Investment				Investment as of March 31, 2015						Net income (loss) of investee company			Investment income (loss) recognized			Note
				Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value
UNITED MICROTECHNOLOGY CORPORATION (NEW YORK)		USA	Research & Development	USD	950	USD	950		0		100.00	$	31,680	$	1		$	1
UNITED MICROTECHNOLOGY CORPORATION (CALIFORNIA)		USA	Research & Development	USD	13.50		—		—		100.00		398		(24	)		(24	)

GREEN EARTH LIMITED

Investee company	Address		Main businesses and products	Initial Investment				Investment as of March 31, 2015						Net income (loss) of investee company		Investment income (loss) recognized		Note
				Ending balance		Beginning balance		Number of shares (thousand)		Percentage of ownership (%)		Book value
UNITED MICROCHIP CORPORATION		Cayman	Investment holding	$	—	$	—		—		100.00	$	—	$	—	$	—		Note

Note: UNITED MICROCHIP CORPORATION was set up on February 4, 2015 and has not yet invested in UNITED MICROCHIP CORPORATION on March 31, 2015.

121

ATTACHMENT 11 (Investment in Mainland China as of March 31, 2015)

(Amount in thousand; Currency denomination in NTD or in foreign currencies)

Investee company	Main businesses and products	Total amount of paid-in capital					Method of investment (Note 1)	Accumulated outflow of investment from Taiwan as of January 1, 2015					Investment flows				Accumulated outflow of investment from Taiwan as of March 31, 2015					Net income (loss) of investee company					Percentage of ownership		Investment income (loss) recognized (Note 2)					Carrying value as of March 31, 2015					Accumulated inward remittance of earnings as of March 31, 2015
													Outflow		Inflow
UNITRUTH ADVISOR (SHANGHAI) CO., LTD.	Investment Holding and advisory		(USD	$	25,000 800	)	(ii)SOARING COPITAL CORP.		(USD	$	25,000 800	)	$	—	$	—		(USD	$	25,000 800	)			$	(561	)		100.00%			$	(561 2.(iii)	)			$	13,596				$	—
SHANDONG HUAHONG ENERGY INVEST CO., INC.	Invest new energy business		(RMB		1,506,000 300,000	)	(i)		(USD		42,500 1,360	)		—		—		(USD		42,500 1,360	)				(26,724	)		50.00%				(13,362 2.(ii)	)				710,574					—
JINING SUNRICH SOLAR ENERGY CORP.	To construct, operate, and maintain solar power plant		(RMB		1,405,600 280,000	)	(i)		(USD		654,063 20,930	)		—		—		(USD		654,063 20,930	)				(27,028	)		50.00%				(13,514 2.(ii)	)				667,327					—
EVERRICH (SHANDONG) ENERGY CO., LTD.	Solar engineering integrated design services		(USD		96,875 3,100	)	(ii)EVERRICH ENERGY INVESTMENT (HK) LIMITED		(USD		96,875 3,100	)		—		—		(USD		96,875 3,100	)				(327	)		100.00%				(327 2.(iii)	)				112,707			(USD		103,313 3,306	)
UNITED LED CORPORATION	Research, manufacturing and sales in LED epitaxial wafers		(USD		2,625,000 84,000	)	(ii)UNITED LED CORPORATION HONG KONG LIMITED		(USD		632,813 20,250	)		—		—		(USD		632,813 20,250	)		(RMB		(40,993 (8,166)	)  )		25.14%		(RMB		(11,370 (2,265) 2.(ii)	)  )		(RMB		507,888 101,173	)				—
HEJIAN TECHNOLOGY (SUZHOU) CO., LTD.	Sales and manufacturing of integrated circuits		(USD		11,875,000 380,000	)	(ii)OAKWOOD ASSOCIATES LIMITED		(USD		7,346,531 235,089	)		—		—		(USD		7,346,531 235,089	)		(USD		425,750 13,624	)		86.88% (Note 4)		(USD		369,906 11,837 2. (ii)	)		(USD		17,756,688 568,214	)				—
UMC (BEIJING) LIMITED	Marketing support activities		(USD		15,625 500	)	(ii)UMC INVESTMENT (SAMOA) LIMITED		(USD		15,625 500	)		—		—		(USD		15,625 500	)				34			100.00% (Note 5)				34 2.(iii)					16,276					—
UNITEDDS SEMICONDUCTOR (SHANDONG) CO., LTD.	Design support of integrated circuits		(RMB		150,600 30,000	)	(i)				—			—		—				—			(RMB		(2,977 (593)	)  )		86.88%		(RMB		(2,585 (515) 2. (iii)	)  )		(RMB		115,244 22,957	)				—
UNITED SEMICONDUCTOR (XIAMEN) CO., LTD.	Sales and manufacturing of integrated circuits		(RMB		9,237,914 1,804,222	)	(i)				—			—		—				—   (Note 6)			(RMB		(4,121 (821)	)  )		28.96%		(RMB		(1,195 (238) 2. (iii)	)  )		(RMB		2,674,109 532,691	)				—

Accumulated investment in Mainland China as of March 31, 2015			Investment amounts authorized by Investment Commission, MOEA			Upper limit on investment
$ (USD	8,813,406   282,029	)	$	31,177,469 (USD 997,679	)	$	135,257,795

Note 1 : The methods for engaging in investment in Mainland China include the following:

  (i) Direct investment in Mainland China.

  (ii) Indirectly investment in Mainland China through companies registered in a third region. (Please specify the name of the company in third region).

  (iii) Other methods

Note 2 : The investment income (loss) recognized in current period:

1. Please specify no investment income (loss) has been recognized due to the investment is still during development stage.

2. The investment income (loss) were determined based on the following basis:

  (i) The financial report was audited and certified by an international accounting firm in cooperation with an R.O.C. accounting firm.

  (ii) The financial statements certificated by the CPA of the parent company in Taiwan.

  (iii) Others.

Note 3 : Initial investment amounts denominated in foreign currencies are translated into New Taiwan Dollars using the spot rates at the financial report date.

Note 4 : The Company indirectly invested in HEJIAN TECHNOLOGY (SUZHOU) CO., LTD. via investment in BEST ELITE INTERNATIONAL LIMITED (BEST ELITE), an equity investee. The Investment Commission, MOEA has approved to invest US$217,572 thousand in BEST ELITE’s preferred stock, invest US$91,984 thousand in BEST ELITE’s common stock. As of March 31, 2015, the amount of investment has been remitted.

Note 5 : UMC (BEIJING) LIMITED have been made in the Investment Commission, MOEA and approved US$3,000 thousand. As of March 31, 2015, the amount of investment US$2,500 thousand has not yet been remitted.

Note 6 : The consent to invest in UNITED SEMICONDUCTOR (XIAMEN) CO., LTD. (USCXM) have been made by the Investment Commission, MOEA which approved the total investment amount US$710,640 thousand.

As of March 31, 2015, the investment amount to USCXM from HEJIAN TECHNOLOGY (SUZHOU) CO., LTD. was US$86,880 thousand, and the rest investment amount US$623,760 thousand has not yet been remitted.

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