6-K

 

					1934 Act Registration No. 1-14700
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
		FORM 6-K
	REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
		For the month of April 2021 (Commission File Number: 001-14700)
Taiwan Semiconductor Manufacturing Company Ltd. (Translation of Registrant’s Name Into English)
		No. 8, Li-Hsin Rd. 6, Hsinchu Science Park, Taiwan, R.O.C. (Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.Form 20-F  ☒            Form 40-F  ☐
Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1):□ Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7):□

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Taiwan Semiconductor Manufacturing Company Ltd.
Date:	April 15, 2021	By	/s/ Wendell Huang
			Wendell Huang
			Vice President & Chief Financial Officer

 

Exhibits
Exhibit Number	Exhibit Description
99.1	Press release issued by TSMC on April 15, 2021.
99.2	TSMC 1Q21 conference call presentation material.

EX-99.1

TSMC Reports First Quarter EPS of NT$5.39

Hsinchu, Taiwan, R.O.C., Apr. 15, 2021–TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$362.41 billion, net income of NT$139.69 billion, and diluted earnings per share of NT$5.39 (US$0.96 per ADR unit) for the first quarter ended March 31, 2021.

Year-over-year, first quarter revenue increased 16.7% while net income and diluted EPS both increased 19.4%. Compared to fourth quarter 2020, first quarter results represented a 0.2% increase in revenue and a 2.2% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, first quarter revenue was $12.92 billion, which increased 25.4% year-over-year and increased 1.9% from the previous quarter.

Gross margin for the quarter was 52.4%, operating margin was 41.5%, and net profit margin was 38.6%.

In the first quarter, shipments of 5-nanometer accounted for 14% of total wafer revenue; 7-nanometer accounted for 35%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.

“Our first quarter business was supported by HPC-related demand, balanced by a milder smartphone seasonality than in recent years,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into second quarter 2021, we expect our revenue to be flattish, as HPC-related demand will continue to grow, offset by smartphone seasonality.”

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

˙ Revenue is expected to be between US$12.9 billion and US$13.2 billion;

And, based on the exchange rate assumption of 1 US dollar to 28.4 NT dollars,

˙ Gross profit margin is expected to be between 49.5% and 51.5%;

˙ Operating profit margin is expected to be between 38.5% and 40.5%.

The management further expects the 2021 capital budget to be around US$30 billion.

TSMC’s 2021 first quarter consolidated results:

(Unit: NT$ million, except for EPS)
	1Q21	1Q20	YoY	4Q20	QoQ
	Amounta	Amount	Inc. (Dec.) %	Amount	Inc. (Dec.) %
Net sales	362,410	310,597	16.7	361,533	0.2
Gross profit	189,839	160,777	18.1	195,236	(2.8)
Income from operations	150,538	128,522	17.1	157,120	(4.2)
Income before tax	155,064	132,147	17.3	161,107	(3.8)
Net income	139,690	116,987	19.4	142,766	(2.2)
EPS (NT$)	5.39b	4.51b	19.4	5.51b	(2.2)
a: 1Q2021 figures have not been approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares

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

EX-99.2

2021 First Quarter Earnings Conference April 15, 2021

Agenda Welcome Jeff Su, IR Director 1Q21 Financial Results and 2Q21 Outlook Wendell Huang, CFO Key Messages Wendell Huang, CFO C.C. Wei, CEO Q&A

Safe Harbor Notice TSMC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. Information as to those factors that could cause actual results to vary can be found in TSMC’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) on April 15, 2020 and such other documents as TSMC may file with, or submit to, the SEC from time to time. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Statements of Comprehensive Income

1Q21 Revenue by Technology 7nm and Below Revenue 0.11/0.13um 3% 90nm 3% 0.25um and above 2% 40/45nm 7% 28nm 11% 16nm 14% 0.15/0.18um 6% 10nm 0% 65nm 5% 7nm 35% 20nm 0% 5nm 14%

1Q21 Revenue by Platform Smartphone Automotive Smartphone 45% Automotive 4% HPC 35% DCE 4% Others 3% IoT 9%

Balance Sheets & Key Indices

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

2Q21 Guidance Revenue to be between US$ 12.9 billion and US$ 13.2 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 28.4 NT dollars, management expects: Gross profit margin to be between 49.5% and 51.5% Operating profit margin to be between 38.5% and 40.5%

Recap of Recent Major Events Please visit TSMC's website (https://www.tsmc.com) and Market Observation Post System (https://mops.twse.com.tw) for details and other announcements TSMC Board of Directors Approved the Convening of the 2021 AGM on June 8, 2021 (2021/02/09) TSMC Board of Directors Approved the Issuance of Unsecured Corporate Bonds in the Domestic Market for an Amount Not to Exceed NT$120 Billion (approximately US$4.4 billion) and US Dollar-Denominated Senior Unsecured Corporate Bonds for an Amount Not to Exceed US$4.5 Billion (2021/02/09) TSMC Board of Directors Approved the Establishment of a Wholly-Owned Subsidiary in Japan to Expand TSMC’s 3DIC Material Research, with a Paid-in Capital of not More than ¥18.6 Billion (approximately US$186 million) (2021/02/09) TSMC Board of Directors Approved NT$2.5 Cash Dividend for the Fourth Quarter of 2020 and Set June 17 as the Ex-Dividend Date, June 23 as the Record Date and July 15, 2021 as the Distribution Date (2021/02/09)

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