The Taiwan Fund, Inc. Announces 1st Quarter Earnings

Rhea-AI Summary

The Taiwan Fund (NYSE:TWN) reported results for the three months ended November 30, 2025. NAV per share was $67.52, up $8.39 from $59.13 on August 31, 2025, a 14.19% total return for the quarter versus the TAIEX Total Return Index 11.29% (USD).

Share price on the NYSE was $55.15 (up $4.90), and the Fund's discount to NAV widened to 18.32% from 15.02% on August 31, 2025. Quarterly net realized gains were $15,129,005, net unrealized appreciation was $34,243,557, net investment loss was $49,731, and total net assets were $401,456,712.

Positive

• NAV per share increased by $8.39 quarter-to-quarter
• Total return of 14.19% beat TAIEX Total Return Index 11.29%
• Net realized gains of $15.13M for the quarter
• Net unrealized appreciation of $34.24M for the quarter

Negative

• Fund discount widened to 18.32% from 15.02% on August 31, 2025
• Share price $55.15 remained below NAV $67.52
• Reported a small net investment loss of $49,731

News Market Reaction

+0.13%

1 alert

+0.13% News Effect

On the day this news was published, TWN gained 0.13%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Jan. 14, 2026 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended November 30, 2025.

The Fund reported a net asset value per share of $67.52 as of the close of business on November 30, 2025. This represents an increase of $8.39 per share from the net asset value per share of $59.13 reported on August 31, 2025. The Fund had a total return of 14.19% for the three months ended November 30, 2025 based on the change in its net asset value.  For the same period the TAIEX Total Return Index returned 11.29% (in US$ terms).

The Fund's share price, as traded on the New York Stock Exchange on November 30, 2025, was $55.15, representing an increase of $4.90 per share from the share price of $50.25 on August 31, 2025. The Fund's discount to net asset value per share increased from 15.02% on August 31, 2025 to 18.32% on November 30, 2025.

For the three month period ended November 30, 2025, the Fund had net realized gains of $15,129,005 on investments and foreign currency transactions and increase in net unrealized appreciation of $34,243,557 on investments and foreign currency. The Fund's net investment loss (consisting of dividend and securities lending income less operating expenses) for the same period was $49,731.

	Quarter Ended November 30, 2025	Year Ended August 31, 2025	Quarter Ended November 30, 2024
Total Net Assets	$ 401,456,712	$ 360,903,648	$ 347,890,875
Gross Investment Income Per Share	$1,134,870 $0.19	$ 6,083,163	$ 764,706 $0.12
Net Investment Income (Loss) Per Share	$ (49,731) ($0.01)	$ 1,904,034	$ (27,963) ($0.00)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions	$ 15,129,005	$ 33,647,958	$ 3,115,096
Change in Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations	$ 34,243,557	$ 37,118,349	$ (9,851,700)
Total Realized and Unrealized Gain (Loss) on Investments Per Share	$ 49,372,562 $8.18	$ 70,766,307	$ (6,736,604) $(1.03)
Net Increase (Decrease) in Net Assets Resulting from Operations Per Share	$ 49,322,831 $ 8.18	$ 72,670,341	$ (6,764,566) $ (1.03)

The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange.  Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "TWN."

For additional information on the Fund, including information on the Fund's holdings, visit the Fund's website at www.thetaiwanfund.com or call 1-800-426-5523.

CONTACT:
Brian F. Link, Secretary
1-800-426-5523
www.thetaiwanfund.com

View original content:https://www.prnewswire.com/news-releases/the-taiwan-fund-inc-announces-1st-quarter-earnings-302661580.html

SOURCE The Taiwan Fund, Inc.

FAQ

What was TWN's NAV per share on November 30, 2025?

TWN reported a NAV per share of $67.52 as of November 30, 2025.

How did TWN perform versus the TAIEX for the quarter ended November 30, 2025?

TWN had a 14.19% total return for the quarter versus the TAIEX Total Return Index 11.29% in US$ terms.

What caused TWN's net asset increase in Q1 2026 (three months ended Nov 30, 2025)?

The increase reflected $15.13M net realized gains and $34.24M net unrealized appreciation on investments and foreign currency.

Why did TWN's discount to NAV widen by November 30, 2025?

Although NAV rose, the share price increased less (NAV +$8.39 vs share price +$4.90), leaving the discount at 18.32% on November 30, 2025.

What were TWN's total net assets as of November 30, 2025?

TWN reported $401,456,712 in total net assets as of November 30, 2025.