Transcript • Jan. 15, 2026 6:00 AM • Taiwan Semiconductor Manufacturing Company Limited (TSM)
Transcript
Jan. 15, 2026 6:00 AM
Taiwan Semiconductor Manufacturing Company Limited (TSM)
Jeff Su: investor relations and your host for today today's event is being webcast live through tsmc's website at www.tsmc.com where you can also download the earnings release materials if you are joining us through the conference call your dial-in lines are in listen only mode The format for today's event will be as follows. SMC's Senior Vice President is Senior Vice President Mr. Wendell Wong. Mr. Wendell Wong will summarize our operations for the fourth quarter of 2025, followed by our guidance for the first quarter of 2025, first quarter of 2026. Afterwards, Mr. Huang and Chairman and Chairman and Chairman and Dr. C.C. Wei will join me to provide the company's key messages. Then we will open the floor and the line for the question and answer session. As usual, I would like to remind everybody that today's discussions are not subject to significance. Thank you, Jeff. Thank you, Jeff. Thank you, Jeff. Thank you, Jeff.
Wendell Wong: Thank you, Jeff. Thank you. for the first quarter. Fourth quarter, fourth quarter, fourth quarter, fourth quarter, fourth quarter, fourth quarter, fourth quarter, fourth quarter, Thank you. Thank you. Thank you. Thank you. Three nanometers. Three nanometers. Three nanometers. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. in terms of financial Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. ... ... ... ... ... ... The actual. The actual. The actual. The actual. Thank you. Looking at the slide, given the six factors, where are we? Given the six factors, where are we? On the one hand, we expect our overall yield. On the one hand, we expect our overall yield. On the one hand, we expect our overall yield. On the one hand, we expect our overall yield. On the one hand, we expect our overall yield. the other hand the other hand scale of our Thank you very much. let me talk let me talk The higher level of the capillary, the higher level of the capillary, we are well positioned to capture the most, we are well positioned to capture the most, we are well positioned to capture the most, we are well positioned to capture the most, Thank you. Thank you. Thank you. Thank you very much. is is . . . . . . . . . Thank you very much. Thank you. Thank you. Thank you. Thank you. Good afternoon, everybody. Thank you. Thank you.
C. C. Wei: Good afternoon. Good afternoon. Good afternoon. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you very much. Thank you. ... ... ... Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. is a strong Thank you. Thank you. Thank you. Thank you. Thank you. to support young people of our next generation. In Japan, since the start of the next world war in Japan, since the start of the next world war in Japan, since the start of the next world war in Japan, since the start of the next world war in Japan, Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you very much.
Jeff Su: uh um For those of you on the call, I'd like to ask you a question. For those of you on the call, I'd like to ask you a question. For those of you on the call, I'd like to ask you a question. For those of you on the call, I'd like to ask you a question.
Analyst 1: Thank you. Thank you very much. you are definitely considered as carefully as possible. Give us a little bit more, give us a little bit more detail here of what you're hearing from a customer on the cycle, on the cycle, given what you're hearing.
Jeff Su: Okay, Coco, let me summarize the question for the benefit of those who would like to get views about the overall events of the IVF. Thank you very much.
C. C. Wei: Okay. Okay. Okay. Okay. I want to make sure my customers are real. I want to make sure my customers are real. I want to make sure my customers are real. I want to make sure my customers are real. I want to make sure my customers are real. So no doubt. ... ... ... ... ... ... ... Oh, yeah. Thank you. AI can be used to make a train. It can be used to send trees. It can be used to make a train. It can be used to make a train. manufacturing is very good
Analyst 1: My second question is on the U.S. expansion. around the U.S. expansion, there's a lot of failure. But based on the U.S., the 30% that we talked about, the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30% that we talked about, if you think about the 30%
Jeff Su: He is questioning Arizona. Arizona. Arizona.
C. C. Wei: Arizona. Thank you very much. In Taiwan, because of that, we have to speed up. So actually, in Taiwan, we increase because this is not a capacity because we increase. Most of the capacity in Taiwan, we will not increase. We try to progress as we go. We got me all the other stuff that I get in here for the costume and the garment. And so the pro-Zona, the pro-Zona, the expansion, those kind of things. We have to speed it up. We have to speed it up. We have to speed it up.
Analyst 1: We have to speed it up.
C. C. Wei: We have to speed it up. We have to speed it up.
Analyst 4: We have to speed it up.
C. C. Wei: We have to speed it up. We just bought a second bed. We just bought a second bed. We just bought a second bed. We just bought a second bed. We just bought a second bed. We just bought a second bed. Thank you. Thank you.
Jeff Su: Thank you.
Analyst 2: Thank you for watching. So Laura's question is a question I need to turn into quotes.
Jeff Su: Thank you.
C. C. Wei: Thank you. They told me that, so I said, five, six years ago. So, as I said, those are very smart. So, this is very smart. If I knew that, if I knew that, five, six years ago. So, five, six years ago. So today is the message to me is TSMC is the power. So ask me not to sit in the back of the house. Ask me not to pay attention. We look at the power of the U.S. We look at the power of the U.S. Thank you very much.
Analyst 2: You know, it's that great to know that surprise will not be the constraint for the future. I recall that in the past as well. . . . . . . . . . . Thank you.
Jeff Su: Thank you. Thank you.
Wendell Wong: The revenue contribution last year is close to 10%. We expect it to grow in the next five years. Thank you. Thank you. So my first question is about amazing AI.
Analyst 5: First question, congratulations. Give us some, give us some, give us some, give us some, Thank you.
C. C. Wei: ... ... ... ... ... ... ... ... ... Thank you. The change can be worse, but what we can do, for instance, we did not supply most of the high-end smartphones. The high-end smartphones. The high-end smartphones. The high-end smartphones. Smartphones. Smartphones.
Analyst 1: Smartphones. Smartphones. Smartphones.
Analyst 5: my second question is uh We have a question about this. We have a question about this.
Jeff Su: We have a question about this. We have a question about this. Thank you.
C. C. Wei: Well, let me explain a little bit. Let me explain a little bit. I also like to compete. I also like. Thank you. Thank you. We don't underestimate their progress. We don't underestimate their progress. We don't underestimate their progress.
Jeff Su: All right, let's take the next two questions. Thank you. Operator, the next two questions are online. All right. First question, offline. First call, online.
Analyst 6: Operator? First call, online. First call, online. The first question is a global question. The first question is a global question. uh um
Jeff Su: Thank you. Thank you. Thank you.
C. C. Wei: We need to reduce the capacity that we support for our customers. But let me assure you that we support all our customers. We discuss with our customers. We discuss with our customers about this problem. Okay, Arthur, do you have a second question?
Analyst 6: Yes, thank you.
Jeff Su: Second question is, I believe it's in the deep. No impact.
C. C. Wei: Most of my impact for 2020. Most of my impact. Most of my impact. Most of my impact. Most of my impact. Most of my impact.
Jeff Su: Let's move on to the next participant from the line. Let's move on to the next participant.
Brett Simpson: X1, Brett Simpson. X1, Brett Simpson. X1, Brett Simpson. X1, Brett Simpson. Do you think your campaign should have ended with a billion? Could that mean that we should have started with a billion in terms of having any thought for the future of a billion? Do you think that we should have ended with a billion in terms of having a billion? Thank you.
Jeff Su: Thank you. Okay. Okay.
C. C. Wei: Thank you. Thank you. Thank you. So in 2026, for the short term, it's good money. Thank you. Thank you. Yes. Yes. Yes. Yes. Yes. Yes.
Brett Simpson: Yes. ... ... ... ... Thank you.
Jeff Su: Thank you. I think they continue this way.
Wendell Wong: Last few years,
Analyst 1: Thank you.
Wendell Wong: Thank you. Thank you. Thank you. Thank you very much. Thank you. Converting cross-support. Cross-support involves a very different point of event. Cross-support is a very mature node. So with all these efforts, mature nodes to different nodes, we're able to... We're able to... So with all these efforts, we're able to... We're able to... We're able to... Okay?
Analyst 7: If we look at the company, very different versus international, from year four, year four, maybe year four, even year five, even year five, you can make, you can make, you can make, you can make, you can make, you can make, you can make, you can make,
Jeff Su: versus in the past, in the past. And then for you, does that even compete differently? Now, having, you know, a reference to a very high revenue from, you know, so her question is, what are the revenue from the financial? Her question is, what are the financial? Her question is, what are the finances? Her question is, what are the finances?
C. C. Wei: Thank you. Thank you. The technology is much easier to say. As we said, we have much easier to say. As we said, we have much easier to say. Thank you.
Analyst 7: um um and then i recall And so maybe for clients...
Jeff Su: the two nanometer work more in 20 from the
Wendell Wong: Thank you.
Jeff Su: Thank you. Thank you.
C. C. Wei: ... ... ... ... ... ... ... ... ... Thank you. Thank you. Thank you. Thank you.
Jeff Su: the last call from the line um Chris, are you there? I guess not. Then let's just take the last question.
Analyst 3: I think those mass-fueled quarters is a gap, okay?
Analyst 8: So the gap is mass-fueled quarters. So the gap is mass-fueled quarters.
Jeff Su: So Bruce is in there. So that is today. So that is today. Bruce's question is today. Bruce's question is today. Bruce's question is today. Bruce's question is today.
C. C. Wei: Thank you. Thank you. So the tokens and all of the computing power, tokens and all of the tokens and all of the tokens and all of the tokens and all of the tokens and all of the tokens and all of the tokens My next question is for the, I want to double check with what I just heard.
Analyst 3: I want to double check with you. We call that a high. So I do call that a high. So I do call that a high.
Jeff Su: Thank you. I think it's time to move forward. Bruce's question is, I think we should proceed. Yeah, I think we should move forward.
Wendell Wong: I think it's time to move forward. Now, what's EC7? Now, what's EC7? So that's the first part. Yeah, the productivity. When we started to invest, the volume of meaningful production was $1.28 a day. They start fab because it was $1.00 a month. Volume production was $1.00 a year. Capex dollar was $1.00 a month. Thank you. Thank you. Thank you.
Jeff Su: Thank you. Thank you for taking the time to join us today.
