TSMC "This Year's Revenue Expected to Increase by 24%... Construction of Japan Factory to Begin Next Year"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] Taiwan's semiconductor foundry company TSMC announced that its sales revenue is expected to increase by 24% this year. It also revealed plans to establish a semiconductor factory in Japan starting next year.

On the 14th, TSMC stated in its earnings report that it recorded an operating profit of 156.3 billion Taiwan dollars (approximately 6.6 trillion KRW) in the third quarter, and that its sales revenue "is expected to rise by 24% year-on-year in US dollar terms" this year.

This third-quarter performance exceeded market expectations of 149.6 billion Taiwan dollars (approximately 6.3 trillion KRW).

Previously, TSMC had forecasted a 20% increase in sales revenue for this year.

Nevertheless, TSMC said that semiconductor production bottlenecks are expected to continue for the time being, stating, "Supply is expected to remain tight until next year."

Additionally, TSMC announced plans to begin constructing a new semiconductor factory in Japan starting next year. The company plans to start operating the factory by the end of 2024 and is currently awaiting final approval from its board of directors to proceed with construction.

Furthermore, it added plans to officially introduce the 2-nanometer (nm) process starting in 2025.

Wei Zhejia, TSMC's Chief Executive Officer (CEO), said, "There may be short-term imbalances between supply and demand," adding, "We believe our technological capabilities will enable us to meet the demand for advanced technologies."

This content was produced with the assistance of AI translation services.