TSMC approves ~US$20.66B capex, NT$60B bonds; reports strong Q2 results

Rhea-AI Filing Summary

TSMC reported strong second-quarter and six-month results and approved major capital actions to support long-term capacity. Second-quarter consolidated revenue was NT$933.79 billion with net income of NT$398.27 billion and diluted EPS of NT$15.36. The Board approved a NT$5.0 per share cash dividend, with record date set for December 17, 2025 and dividend payment on January 8, 2026.

The Board also approved significant funding and financing measures: capital appropriations of approximately US$20,657.50 million for capacity, packaging and fab construction; issuance of unsecured domestic bonds up to NT$60 billion to finance expansion and green initiatives; and a capital injection of up to US$10 billion to TSMC Global to address foreign-exchange hedging costs. Six-month consolidated figures (TIFRS) include net sales of 1,773,045,533 (in NT$ thousands) and net income of 758,226,085 (in NT$ thousands), with basic EPS of NT$29.31.

Positive

• Strong second-quarter operating results: NT$933.79 billion revenue and NT$398.27 billion net income with diluted EPS of NT$15.36.
• Shareholder return: Approved NT$5.0 per share cash dividend with record date Dec 17, 2025 and payment Jan 8, 2026.
• Aggressive capacity investment: Approved capital appropriations of ~US$20,657.50 million for advanced capacity, packaging and fab construction.
• Strategic FX management: Approved up to US$10 billion capital injection to TSMC Global to reduce foreign-exchange hedging costs.

Negative

• Large planned spending: ~US$20.66 billion in capital appropriations represents substantial near-term cash commitments.
• Planned bond issuance: Approved issuance of unsecured domestic corporate bonds up to NT$60 billion, which will increase financing activity and liabilities.
• Significant intra-group funding: Up to US$10 billion capital injection to a subsidiary will allocate parent resources to hedging strategy.

Insights

Financial Analyst

TL;DR: Strong operating results with shareholder return and a sizable capex plan signal growth focus and near-term cash deployment.

TSMC's second-quarter operating performance—NT$933.79 billion revenue and NT$398.27 billion net income—demonstrates continued profitability at scale. The NT$5.0 per share dividend is a clear shareholder-return action. The approved ~US$20.66 billion capital appropriations indicate material investment in advanced, packaging and fab capacity that should expand future revenue potential but will require sustained cash deployment. Financing via up to NT$60 billion in unsecured bonds and a possible up to US$10 billion capital injection to a subsidiary are notable funding steps; their structure and timing will influence balance-sheet metrics.

Corporate Finance Specialist

TL;DR: Material capital and financing decisions are impactful but neutral until funding mix and cash flow timing are clarified.

The Board approved significant capital appropriations (~US$20.66 billion) alongside authorization to issue up to NT$60 billion in unsecured domestic bonds and a potential US$10 billion capital injection to a wholly owned subsidiary. These are large, explicit actions that affect liquidity and funding strategy. The decisions are strategically coherent with capacity expansion and FX hedging aims, but the net balance-sheet and interest-cost implications depend on how much is funded internally versus debt and on execution timing.

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 August 2025

(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:   August 12, 2025

By

/s/ Wendell Huang

Wendell Huang

Senior Vice President and Chief Financial Officer

TSMC Board of Directors Meeting Resolutions

HSINCHU, Taiwan, R.O.C., Aug. 12, 2025 – The TSMC (TWSE: 2330, NYSE: TSM) Board of Directors today held a meeting, which passed the following resolutions:

1.Approved the 2025 second quarter Business Report and Financial Statements. Second quarter consolidated revenue was NT$933.79 billion, and net income was NT$398.27 billion, with diluted earnings per share of NT$15.36.

2.Approved the distribution of a NT$5.0 per share cash dividend for the second quarter of 2025, and set December 17, 2025 as the record date for common stock shareholders entitled to participate in this cash dividend distribution, and the ex-dividend date for the common shares shall be December 11, 2025. As required by Article 165 of Taiwan’s Company Law, the shareholders’ register shall be closed for five days prior to the record date (December 13 through December 17, 2025) for registration transfer, and the dividend will be paid on January 8, 2026. In addition, the ex-dividend date and the record date for entitlement to participate in this cash dividend distribution for TSMC American Depositary Shares (ADSs) will be December 11, 2025.

3.To meet long-term capacity plans based on market demand forecasts and TSMC’s technology development roadmap, the Board approved capital appropriations of approximately US$20,657.50 million for purposes including: 1) Installation of advanced technology capacity; 2) Installation of advanced packaging, mature and/or specialty technology capacity; 3) Fab construction, and installation of fab facility systems.

4.Approved the issuance of unsecured corporate bonds in multiple offerings in the domestic market in an amount not to exceed NT$60 billion to finance TSMC’s capacity expansion and/or green initiatives.

5.Approved the capital injection of not more than US$10 billion to TSMC Global, a wholly-owned subsidiary of TSMC, for the purpose of reducing foreign exchange hedging costs.

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 288 distinct process technologies, and manufactured 11,878 products for 522 customers in 2024 by providing the broadest range of advanced, specialty and advanced packaging technology services. The Company is headquartered in Hsinchu, Taiwan. For more information please visit https://www.tsmc.com.

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TSMC Spokesperson:

Media Contacts:

Wendell Huang Senior Vice President and CFO Tel: 886-3-505-5901

Nina Kao Head of Public Relations Tel: 886-3-5636688 ext.7125036 Mobile: 886-988-239-163 E-Mail: press@tsmc.com

Baker Li Public Relations Tel: 886-3-5636688 ext.7125037 Mobile: 886-988-932-757 E-Mail: press@tsmc.com

Taiwan Semiconductor Manufacturing Company Limited

This is to report the major financials for the six months ended June 30, 2025 approved by the TSMC Board of Directors. All figures were prepared in accordance with TIFRS on a consolidated basis.

(In NT$ thousands, except for EPS)

Comprehensive Income Statements Items (for the six months ended June 30, 2025)
Net sales			1,773,045,533
Gross profit			1,040,764,314
Income from operations			870,504,446
Income before tax			923,930,616
Net income			758,226,085
Net income attributable to shareholders of the parent			759,837,230
Basic EPS (NT$)			29.31

Balance Sheets Items (as of June 30, 2025)
Total assets			7,006,349,549
Total liabilities			2,389,717,699
Equity attributable to shareholders of the parent			4,581,073,975

FAQ

What were TSMC (TSM) second-quarter revenue and net income?

Second-quarter consolidated revenue was NT$933.79 billion and net income was NT$398.27 billion, with diluted EPS of NT$15.36.

How much is the cash dividend TSMC approved and when will it be paid?

The Board approved a cash dividend of NT$5.0 per share; record date for shareholders is December 17, 2025 and the dividend will be paid on January 8, 2026.

What capital expenditures did TSMC approve?

The Board approved capital appropriations of approximately US$20,657.50 million for advanced technology capacity, advanced packaging/mature/specialty capacity, and fab construction and facility systems.

Did TSMC approve any debt issuance to fund expansion?

Yes. The Board approved the issuance of unsecured corporate bonds in the domestic market in an amount not to exceed NT$60 billion to finance capacity expansion and/or green initiatives.

What are TSMC's six-month consolidated results under TIFRS?

For the six months ended June 30, 2025 (in NT$ thousands): Net sales 1,773,045,533; Net income 758,226,085; Net income attributable to shareholders 759,837,230; Basic EPS NT$29.31.

Why is TSMC injecting capital into TSMC Global?

The Board approved a capital injection of up to US$10 billion to TSMC Global for the purpose of reducing foreign-exchange hedging costs.