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TSMC (NYSE: TSM) explains 2025 IFRS vs Taiwan-IFRS result differences

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Taiwan Semiconductor Manufacturing Company Limited (TSMC) explains how its 2025 results differ under Taiwan-IFRSs and IFRSs issued by the IASB. Under Taiwan-IFRSs, TSMC reported net income attributable to shareholders of NT$1,717,883 million and basic earnings per share of NT$$66.26 in 2025.

For its Form 20-F, prepared under IFRSs issued by the IASB, TSMC reported net income attributable to shareholders of NT$1,697,604 million and basic and diluted earnings per share of NT65.47 in 2025. The company states that the main difference arises from the timing of recognition of R.O.C. tax on unappropriated earnings.

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Net income (Taiwan-IFRSs) NT$1,717,883 million Net income attributable to shareholders of the parent in 2025 under Taiwan-IFRSs
Net income (IASB IFRSs) NT$1,697,604 million Net income attributable to shareholders of the parent in 2025 under IFRSs issued by the IASB
EPS (Taiwan-IFRSs basic) NT$$66.26 Basic earnings per share in 2025 under Taiwan-IFRSs
EPS (IASB IFRSs basic and diluted) NT65.47 Basic and diluted earnings per share in 2025 under IFRSs issued by the IASB
Total assets (Taiwan-IFRSs) NT$7,933,024 million Total assets as of December 31, 2025 under Taiwan-IFRSs
Equity (IASB IFRSs) NT$5,355,039 million Equity attributable to shareholders of the parent as of December 31, 2025 under IFRSs issued by the IASB
International Financial Reporting Standards financial
"This is to announce the differences between International Financial Reporting Standards (“IFRSs”) as endorsed and issued into effect"
International Financial Reporting Standards are a common set of accounting rules used by companies in many countries to prepare and present their financial statements. They matter to investors because they make results easier to compare across borders — like using the same measuring tape — so investors can assess profitability, cash flow and risk more reliably and spot differences that come from business performance rather than differing accounting methods.
International Accounting Standards Board financial
"IFRSs as issued by the International Accounting Standards Board (“IASB”) for the 2025 consolidated financial statements"
An independent body that develops and issues the International Financial Reporting Standards (IFRS), a common rulebook for how companies prepare their financial statements worldwide. Think of it as a cookbook that ensures different companies follow the same recipes for reporting profit, assets and liabilities, which helps investors compare companies, spot risks or opportunities across borders, and trust that financial numbers are consistent and transparent.
non-controlling interests financial
"non-controlling interests of NT$41,199 million, and equity attributable to shareholders of the parent"
An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.
unappropriated earnings financial
"The major difference ... was the timing of the recognition of R.O.C. tax on unappropriated earnings."
Form 6-K: How Foreign Companies Report to the SEC →

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 2026
(Commission File Number: 001-14700)
_____________________________
Taiwan Semiconductor Manufacturing Company Limited
(Translation of Registrant’s Name Into English)
_____________________________
No. 8, Li-Hsin Road 6
Hsinchu Science Park
Hsinchu 300-096, Taiwan
Republic of China
(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  x            Form 40-F  o
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):o
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):o


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 Limited
Date: April 16, 2026By   /s/ Wendell Huang
  Wendell Huang
   Senior Vice President & Chief Financial Officer
  





Taiwan Semiconductor Manufacturing Company Limited


This is to announce the differences between International Financial Reporting Standards (“IFRSs”) as endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China (“Taiwan-IFRSs”) and IFRSs as issued by the International Accounting Standards Board (“IASB”) for the 2025 consolidated financial statements of Taiwan Semiconductor Manufacturing Company Limited (the “Company” or “TSMC”) (NYSE:TSM).

1. Under Taiwan-IFRSs, TSMC reported the following: net income attributable to shareholders of the parent of NT$1,717,883 million, basic and diluted earnings per share of NT$$66.26 and NT$66.25, respectively, in 2025, total assets of NT$7,933,024 million, total liabilities of NT$2,472,229 million, non-controlling interests of NT$41,199 million, and equity attributable to shareholders of the parent of NT$5,419,596 million as of December 31, 2025.

2. For the purpose of filing the annual report on Form 20-F with the U.S. Securities and Exchange Commission, TSMC prepared the consolidated financial statements in accordance with IFRSs as issued by the IASB and reported the following: net income attributable to shareholders of the parent of NT$1,697,604 million, basic and diluted earnings per share of NT65.47 in 2025; total assets of NT$7,932,843 million, total liabilities of NT$2,536,623 million, non-controlling interests of NT$41,181 million, and equity attributable to shareholders of the parent of NT$5,355,039 million as of December 31, 2025.

3. The major difference between TSMC’s 2025 consolidated financial statements on the basis of Taiwan-IFRSs and IFRSs as issued by the IASB was the timing of the recognition of R.O.C. tax on unappropriated earnings.

Source: View Original Filing on SEC EDGAR

FAQ

What 2025 net income did TSMC report under Taiwan-IFRSs and IFRSs issued by the IASB?

TSMC reported net income of NT$1,717,883 million under Taiwan-IFRSs and NT$1,697,604 million under IFRSs issued by the IASB, both attributable to shareholders of the parent for 2025, reflecting different tax recognition timing.

How do TSMC (TSM) 2025 earnings per share differ between Taiwan-IFRSs and IASB IFRSs?

Under Taiwan-IFRSs, TSMC reported basic and diluted EPS of NT$$66.26 and NT$66.25. Under IFRSs issued by the IASB, basic and diluted EPS were both NT65.47 for 2025, showing a modest difference driven by accounting treatment.

What 2025 balance sheet figures did TSMC report under Taiwan-IFRSs?

TSMC reported total assets of NT$7,933,024 million, total liabilities of NT$2,472,229 million, non-controlling interests of NT$41,199 million, and equity attributable to shareholders of NT$5,419,596 million as of December 31, 2025, under Taiwan-IFRSs.

What 2025 balance sheet figures did TSMC (TSM) report under IFRSs issued by the IASB?

Under IASB IFRSs, TSMC reported total assets of NT$7,932,843 million, total liabilities of NT$2,536,623 million, non-controlling interests of NT$41,181 million, and equity attributable to shareholders of NT$5,355,039 million as of December 31, 2025.

What causes the differences between TSMC’s Taiwan-IFRSs and IASB IFRSs 2025 results?

TSMC states that the major difference between its 2025 consolidated financial statements under Taiwan-IFRSs and IFRSs issued by the IASB is the timing of recognition of R.O.C. tax on unappropriated earnings, which affects income and equity figures.

Why did TSMC (TSM) prepare 2025 financials under IFRSs issued by the IASB?

TSMC prepared consolidated financial statements under IFRSs issued by the IASB for the purpose of filing its annual report on Form 20-F with the U.S. Securities and Exchange Commission, while also reporting under Taiwan-IFRSs for domestic requirements.