1934 Act Registration No. 1-14700

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2009

Taiwan Semiconductor Manufacturing Company Ltd.

(Translation of Registrant’s Name Into English)

No. 8, Li-Hsin Rd. 6,
Hsinchu Science Park,
Taiwan
(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 þ		Form 40-F o

     (Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes o		No þ

(If “Yes” is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82:           .)

 

 

FOR IMMEDIATE RELEASE

CONTACT
Elizabeth Sun / Harrison Hsueh

Investor Relations Division
TSMC
invest@tsmc.com
886-3-568-2085/ 2088

Topics in This Report

•		Revenue Analysis
•		Profit & Expense Analysis
•		Financial Condition Review
•		Cash Flow
•		CapEx & Capacity
•		Recap of Recent Important Events & Announcements

1Q09		Quarterly Management Report April 30, 2009

Operating Results Review:

Summary:

(Amounts are on consolidated basis and are in NT
billions except otherwise noted)		1Q09				4Q08				1Q08				QoQ				YoY
EPS (NT$  per common share)			0.06				0.48				1.08				(87.5	%)			(94.4	%)
(US$  per ADR unit)			0.01				0.07				0.17
Consolidated Net Sales			39.50				64.56				87.48				(38.8	%)			(54.8	%)
Gross Profit			7.48				20.19				38.24				(63.0	%)			(80.4	%)
Gross Margin			18.9	%			31.3	%			43.7	%
Operating Expense			(6.27	)			(8.17	)			(9.12	)			(23.3	%)			(31.2	%)
Operating Income			1.21				12.02				29.12				(89.9	%)			(95.8	%)
Operating Margin			3.1	%			18.6	%			33.3	%
Non-Operating Items			(0.46	)			1.07				2.45
Net Income			1.56				12.45				28.14				(87.5	%)			(94.5	%)
Net Profit Margin			3.9	%			19.3	%			32.2	%
Wafer Shipment (kpcs 8 inch-equiv.)			892				1,532				2,196				(41.8	%)			(59.4	%)

Financial Highlights:

First Quarter 2009

•		Consolidated net sales were NT$39.50 billion, representing a 38.8% sequential decline from 4Q08 and a 54.8% decline compared to 1Q08;
•		Gross margin was 18.9%, 12.4 percentage points lower than 4Q08 and 24.8 percentage points lower than 1Q08.
•		Operating margin was 3.1%, 15.5 percentage points lower than 4Q08 and 30.2 percentage points lower than 1Q08. Operating expenses were NT$6.27 billion, NT$1.90 billion lower than the previous quarter.
•		The combined result from non-operating income and long-term investment losses was a loss of NT$0.46 billion, compared to a gain of NT$1.07 billion in 4Q08 and a gain of NT$2.45 billion in 1Q08;
•		Consolidated net income attributable to shareholders of the parent company was NT$1.56 billion, with net profit margin of 3.9% and diluted EPS of NT$0.06.

TSMC
April 30, 2009		Page 2

I. Revenue Analysis

I. Wafer Sales Analysis

By Application		1Q09				4Q08				1Q08
Computer			26	%			32	%			34	%
Communication			46	%			43	%			42	%
Consumer			21	%			19	%			17	%
Industrial/Others			7	%			6	%			8	%

By Technology		1Q09				4Q08				1Q08
45/40nm			1	%			0	%			0	%
65nm			23	%			27	%			15	%
90nm			25	%			21	%			28	%
0.11/0.13um			16	%			17	%			20	%
0.15/0.18um			21	%			22	%			23	%
0.25/0.35um			11	%			10	%			10	%
0.50um+			3	%			3	%			4	%

By Customer Type		1Q09				4Q08				1Q08
Fabless/System			77	%			72	%			71	%
IDM			23	%			28	%			29	%

By Geography		1Q09				4Q08				1Q08
North America			68	%			72	%			76	%
Asia Pacific			14	%			11	%			11	%
China			3	%			2	%			1	%
Europe			12	%			11	%			9	%
Japan			3	%			4	%			3	%

Revenue Analysis:

Application—First quarter revenue was NT$39.50 billion, better than the revised guidance, primarily due to continued rush orders from customers especially from the mainland Chinese market. In 1Q09, demand continued to be weaker across all applications compared to 4Q08. On a sequential basis, revenues from computer, communication, and consumer applications decreased 53%, 36%, and 32%, respectively.

Technology—Revenue from 45/40nm reached 1% of total wafer sales in 1Q09. Meanwhile, revenue from 65nm and 90nm were 23% and 25% of total wafer sales, respectively. Overall, revenues from advanced technologies (0.13-micron and below) accounted for 65% of total wafer sales.

Customer—Revenues from IDM customers accounted for 23% of total wafer sales in 1Q09, lower than 28% in 4Q08, primarily due to increasing in-sourcing of those customers in the weak demand environment.

Geography—In 1Q09, revenues from customers based in North America accounted for 68% of total wafer sales, lower than 72% in 4Q08. Meanwhile, sales from customers in Asia Pacific, China, Europe, and Japan accounted for 14%, 3%, 12% and 3% of wafer sales, respectively.

II. Profit & Expense Analysis

II — 1. Gross Profit Analysis

(In NT billions)		1Q09				4Q08				1Q08
COGS			32.02				44.37				49.24
Depreciation			18.97				19.29				18.12
Other MFG Cost			13.05				25.08				31.12
Gross Profit			7.48				20.19				38.24
Gross Margin			18.9	%			31.3	%			43.7	%

Gross Profit Analysis:

Gross margin in 1Q09 was 18.9%, down 12.4 percentage points from 4Q08, mainly driven by a sharp decline of production activities, partially balanced by cost improvement, a more favorable exchange rate, and less employee profit sharing expenses.

TSMC
April 30, 2009		Page 3

II — 2. Operating Expenses

(In NT billions)		1Q09				4Q08				1Q08
Total Operating Exp.			6.27				8.17				9.12
SG&A			2.54				3.34				3.85
Research & Development			3.73				4.83				5.27
Total Operating Exp. as a % of Sales			15.9	%			12.7	%			10.4	%

Operating Expenses:

Total operating expenses for 1Q09 decreased to NT$6.27 billion, representing 15.9% of net sales, higher than 12.7% of net sales in 4Q08.

Research and development expenditures decreased by NT$1.10 billion sequentially, mainly due to lower level of employee profit sharing and less development expenses related to 40nm technologies.

SG&A expenses decreased by NT$0.80 billion from 4Q08 level. The decrease was mainly due to lower level of employee profit sharing and more stringent expense control.

II — 3. Non-Operating Items

(In NT billions)		1Q09				4Q08				1Q08
Non-Operating Inc./(Exp.)			0.35				1.41				1.87
Net Interest Income/(Exp.)			0.88				1.18				1.19
Other Non-Operating			(0.53	)			0.23				0.68
L-T Investments			(0.81	)			(0.34	)			0.58
SSMC			(0.32	)			(0.07	)			0.38
Others			(0.49	)			(0.27	)			0.20
Total Non-Operating Items			(0.46	)			1.07				2.45

Non-Operating Items:

For 1Q09, combined result from non-operating income and long-term investment losses was a net loss of NT$0.46 billion.

Non-operating income was NT$0.35 billion, lower than NT$1.41 billion in 4Q08, primarily due to less interest income, disposal and impairment losses of financial assets, and the absence of litigation compensation.

Net investment losses increased by NT$0.47 billion to NT$0.81 billion, mainly due to weaker business in VIS and SSMC.

III. Financial Condition Review

III — 1. Liquidity Analysis
     (Selected Balance Sheet Items)

(In NT billions)		1Q09				4Q08				1Q08
Cash & Marketable Securities			229.79				211.45				210.31
Accounts Receivable — Trade			13.82				18.50				37.95
Inventory			14.78				14.88				21.89
Total Current Assets			268.56				252.62				281.46
Accounts Payable			10.97				14.04				22.59
Current Portion of Bonds Payable			0.00				8.00				8.00
Accrued Bonus to Employees, Directors and Supervisors			15.64				15.37				4.37
Accrued Liabilities and Others			18.76				19.40				27.08
Total Current Liabilities			45.37				56.81				62.04
Current Ratio (x)			5.9				4.4				4.5
Net Working Capital			223.19				195.81				219.42

Liquidity Analysis:

At the end of 1Q09, total current assets increased by NT$15.94 billion to NT$268.56 billion, mainly contributed by the free cash flow of NT$21.17 billion (please refer to page 5) generated during this quarter.

Total current liabilities decreased by NT$11.44 billion in 1Q09, primarily resulting from the repayment of corporate bond and a decline in payables to contractors and equipment suppliers.

Net working capital was NT$223.19 billion and current ratio increased to 5.9x.

TSMC
April 30, 2009		Page 4

III — 2. Receivable/Inventory Days

(In Number of Days)		1Q09				4Q08				1Q08
Days of Receivable			38				46				43
Days of Inventory			44				40				46

Receivable and Inventory Days:

Sequentially, days of receivable decreased by eight days to 38 days in 1Q09, mainly due to a lower level of business activities.

Days of inventory increased by four days to 44 days, reflecting an improving business outlook for 2Q09.

III — 3. Debt Service

(In NT billions)		1Q09				4Q08				1Q08
Cash & Marketable Securities			229.79				211.45				210.31
Interest-Bearing Debt			16.00				23.44				22.88
Net Cash Reserves			213.79				188.01				187.43

Debt Service:

Net cash reserves — defined as the excess of cash and short-term marketable securities over interest-bearing debt — increased by NT$25.78 billion to NT$213.79 billion at the end of 1Q09, primarily due to free cash flow of NT$21.17 billion generated during this quarter.

IV. Cash Flow

IV — 1.1. Cash Flow Analysis

(In NT billions)		1Q09				4Q08				1Q08
Net Income			1.56				12.45				28.14
Depreciation & Amortization			20.48				20.96				19.83
Other Operating Sources/(Uses)			4.75				29.83				9.33
Total Operating Sources/(Uses)			26.79				63.24				57.30
Capital Expenditure			(5.62	)			(11.26	)			(15.31	)
Marketable Financial Instruments			13.80				30.31				12.91
Other Investing Sources/(Uses)			(0.04	)			(1.04	)			(0.73	)
Net Investing Sources/(Uses)			8.14				18.01				(3.13	)
Repayment of Bonds Payable			(8.00	)			0.00				0.00
Purchase of Treasury Stock			0.00				0.00				(3.05	)
Other Financing Sources/(Uses)			0.12				(0.30	)			(0.24	)
Net Financing Sources/(Uses)			(7.88	)			(0.30	)			(3.29	)
Net Cash Position Changes			27.05				80.95				50.88
Exchange Rate Changes & Others			1.60				1.21				(1.59	)
Ending Cash Balance			223.26				194.61				144.28

Summary of Cash Flow:

Cash generated from operating activities totaled NT$26.79 billion during 1Q09, down from NT$63.24 billion in 4Q08, mainly due to lower level of business activities.

Net cash generated from investing activities was NT$8.14 billion in 1Q09, reflecting capital expenditure of NT$5.62 billion and a net decrease of NT$13.80 billion in marketable financial instruments.

As a result, TSMC ended 1Q09 with a cash balance of NT$223.26 billion.

TSMC
April 30, 2009		Page 5

IV-2. Operating and Free Cash Flows

Operating and Free Cash Flows:

Cash flows generated from operating activities were NT$26.79 billion during the quarter. Free cash flow, defined as the excess of operating cash flows over capital expenditures, totaled NT$21.17 billion in 1Q09, compared to NT$51.98 billion in 4Q08.

V. CapEx & Capacity

V — 1. Capital Expenditures

(In US millions)		1Q09				4Q08
TSMC			161				326
XinTec and GUC			2				2
TSMC China & WaferTech			3				12
Other TSMC Subsidiaries			0				2
Total TSMC			166				342

Capital Expenditures:

Capital expenditures for TSMC on a consolidated basis totaled US$166 million in 1Q09.

For year 2009, total capital expenditures for TSMC is expected to be around US$1.5 billion, compared with US$1.9 billion spent in 2008.

V-2. Capacity

		4Q08				1Q09				2Q09				3Q09				4Q09				2009
Fab / (Wafer size)		(A)				(A)				(F)				(F)				(F)				(F)
Fab-2 (6”)(1)			272				274				280				283				283				1,121
Fab-3 (8”)			274				286				289				292				283				1,150
Fab-5 (8”)			161				162				149				144				144				599
Fab-6 (8”)			282				295				284				287				287				1,154
Fab-8 (8”)			272				275				271				265				255				1,066
Fab-12 (12”)(2)			221				218				219				218				254				909
Fab-14 (12”)(2)			236				238				236				228				227				928
WaferTech (8”)			106				106				107				109				109				431
TSMC China (8”)			128				128				134				135				135				531
TSMC total capacity (8” equiv. Kpcs)			2,405				2,431				2,414				2,394				2,455				9,695
SSMC (8”)			73				64				65				65				65				259
Total managed capacity (8” equiv. Kpcs)			2,478				2,495				2,479				2,460				2,520				9,954

Capacity:

Total managed capacity was 2,495K 8-inch equivalent wafers in the first quarter, increased by 0.7% from 2,478K in 4Q08.

Total managed capacity in 2009 is expected to reach 9,954K 8-inch equivalent wafers, representing an increase of 6% from 9,377K 8-inch equivalent wafers in 2008, while capacity for 12-inch wafer fabs is expected to increase by 11%, reaching 41.5% of total capacity.

TSMC
April 30, 2009		Page 6

VI. Recap of Recent Important Events & Announcements

•		TSMC Qualifies New 0.18-Micron Embedded Flash Family (2009/03/31)
•		Ciranova and TSMC Announce Strategic Partnership on Advanced PDK Technology (2009/03/24)
•		Barron’s Names Dr. Rick Tsai to its Most Respected CEO List (2009/03/23)
•		Intel, TSMC Reach Agreement to Collaborate on Technology Platform, IP Infrastructure, SoC Solutions (2009/03/02)
•		TSMC and Tela Innovations Announce Strategic Partnership to Enhance Design and Process Co- Optimization (2009/02/24)
•		TSMC Board Proposes Dividend of NT$3.0 Cash and 0.5% Stock Per Share (2009/02/10)

		TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (“NTD”) and U.S. Dollars (“USD”))(1)

														December 31, 2008								March 31, 2008
		March 31, 2009 (unaudited)												(audited)								(unaudited)								QoQ								YoY
		USD				NTD				%				NTD				%				NTD				%				Amount				%				Amount				%
ASSETS
Current Assets
Cash and Cash Equivalents		$	6,583			$	223,262				40.4			$	194,614				34.8			$	144,277				24.2			$	28,648				14.7			$	78,985				54.7
Investments in Marketable Financial Instruments			192				6,527				1.2				16,836				3.0				66,034				11.1				(10,309	)			(61.2	)			(59,507	)			(90.1	)
Accounts Receivable — Trade, Net			408				13,822				2.5				18,497				3.3				37,950				6.3				(4,675	)			(25.3	)			(24,128	)			(63.6	)
Inventories, Net			436				14,775				2.7				14,877				2.7				21,890				3.7				(102	)			(0.7	)			(7,115	)			(32.5	)
Other Current Assets			299				10,171				1.8				7,795				1.4				11,304				1.9				2,376				30.5				(1,133	)			(10.0	)
Total Current Assets			7,918				268,557				48.6				252,619				45.2				281,455				47.2				15,938				6.3				(12,898	)			(4.6	)
Long-Term Investments			1,052				35,682				6.5				39,982				7.2				33,693				5.6				(4,300	)			(10.8	)			1,989				5.9
Property, Plant and Equipment			25,568				867,199				156.9				862,461				154.3				817,464				136.9				4,738				0.5				49,735				6.1
Less: Accumulated Depreciation			(18,873	)			(640,121	)			(115.8	)			(618,816	)			(110.7	)			(555,854	)			(93.1	)			(21,305	)			3.4				(84,267	)			15.2
Property, Plant and Equipment, Net			6,695				227,078				41.1				243,645				43.6				261,610				43.8				(16,567	)			(6.8	)			(34,532	)			(13.2	)
Other Assets			633				21,458				3.8				22,671				4.0				20,285				3.4				(1,213	)			(5.4	)			1,173				5.8
Total Assets		$	16,298			$	552,775				100.0			$	558,917				100.0			$	597,043				100.0				($6,142	)			(1.1	)			($44,268	)			(7.4	)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts Payable		$	172			$	5,824				1.1			$	6,043				1.1			$	10,338				1.7				($219	)			(3.6	)			($4,514	)			(43.7	)
Payables to Contractors and Equipment Suppliers			152				5,145				0.9				7,999				1.4				12,256				2.1				(2,854	)			(35.7	)			(7,111	)			(58.0	)
Accrued Expenses and Other Current Liabilities			1,006				34,120				6.1				34,543				6.2				31,162				5.2				(423	)			(1.2	)			2,958				9.5
Current Portion of Bonds Payable and Long-Term Liabilities			8				286				0.1				8,222				1.5				8,280				1.4				(7,936	)			(96.5	)			(7,994	)			(96.5	)
Total Current Liabilities			1,338				45,375				8.2				56,807				10.2				62,036				10.4				(11,432	)			(20.1	)			(16,661	)			(26.9	)
Bonds Payable			133				4,500				0.8				4,500				0.8				4,500				0.8				—				—				—				—
Other Long-Term Liabilities			518				17,587				3.2				17,237				3.1				17,537				2.9				350				2.0				50				0.3
Total Liabilities			1,989				67,462				12.2				78,544				14.1				84,073				14.1				(11,082	)			(14.1	)			(16,611	)			(19.8	)
Shareholders’ Equity Attributable to Shareholders of the Parent Capital Stock at Par Value			7,556				256,260				46.4				256,254				45.8				256,292				42.9				6				0.0				(32	)			(0.0	)
Capital Surplus			1,473				49,965				9.0				49,875				8.9				51,696				8.7				90				0.2				(1,731	)			(3.3	)
Legal Capital Reserve(2)			1,985				67,324				12.2				67,324				12.0				56,406				9.4				—				—				10,918				19.4
Special Capital Reserve(2)			12				392				0.1				392				0.1				630				0.1				—				—				(238	)			(37.8	)
Unappropriated Earnings(2)			3,063				103,896				18.8				102,338				18.3				151,597				25.4				1,558				1.5				(47,701	)			(31.5	)
Treasury Stock			—				—				—				—				—				(918	)			(0.2	)			—				—				918				(100.0	)
Others			109				3,710				0.6				194				0.1				(6,410	)			(1.0	)			3,516				1813.8				10,120				(157.9	)
Total Equity Attributable to Shareholders of the Parent			14,198				481,547				87.1				476,377				85.2				509,293				85.3				5,170				1.1				(27,746	)			(5.4	)
Minority Interests			111				3,766				0.7				3,996				0.7				3,677				0.6				(230	)			(5.7	)			89				2.4
Total Shareholders’ Equity			14,309				485,313				87.8				480,373				85.9				512,970				85.9				4,940				1.0				(27,657	)			(5.4	)
Total Liabilities & Shareholders’ Equity		$	16,298			$	552,775				100.0			$	558,917				100.0			$	597,043				100.0				($6,142	)			(1.1	)			($44,268	)			(7.4	)

		TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements For the Three Months Ended March 31, 2009, December 31, 2008, and March 31, 2008 (Expressed in Millions of New Taiwan Dollars (“NTD”) and U.S. Dollars (“USD”) (1) Except for Per Share Amounts and Shares Outstanding)

		1Q 2009												4Q 2008								1Q 2008								QoQ								YoY
		USD				NTD				%				NTD				%				NTD				%				Amount				%				Amount				%
Net Sales		$	1,164			$	39,500				100.0			$	64,562				100.0			$	87,480				100.0				($25,062	)			(38.8	)			($47,980	)			(54.8	)
Cost of Sales			(943	)			(32,020	)			(81.1	)			(44,367	)			(68.7	)			(49,241	)			(56.3	)			12,347				(27.8	)			17,221				(35.0	)
Gross Profit			221				7,480				18.9				20,195				31.3				38,239				43.7				(12,715	)			(63.0	)			(30,759	)			(80.4	)
Operating Expenses
Research and Development Expenses			(110	)			(3,729	)			(9.4	)			(4,826	)			(7.5	)			(5,270	)			(6.0	)			1,097				(22.7	)			1,541				(29.2	)
General and Administrative Expenses			(47	)			(1,595	)			(4.0	)			(2,285	)			(3.5	)			(2,662	)			(3.0	)			690				(30.2	)			1,067				(40.1	)
Sales and Marketing Expenses			(28	)			(947	)			(2.4	)			(1,062	)			(1.7	)			(1,184	)			(1.4	)			115				(10.8	)			237				(20.0	)
Total Operating Expenses			(185	)			(6,271	)			(15.9	)			(8,173	)			(12.7	)			(9,116	)			(10.4	)			1,902				(23.3	)			2,845				(31.2	)
Income from Operations			36				1,209				3.1				12,022				18.6				29,123				33.3				(10,813	)			(89.9	)			(27,914	)			(95.8	)
Non-Operating Income, Net			10				353				0.9				1,412				2.2				1,872				2.1				(1,059	)			(75.1	)			(1,519	)			(81.2	)
Investment Gains (Loss)			(24	)			(813	)			(2.1	)			(340	)			(0.5	)			577				0.7				(473	)			138.6				(1,390	)			(240.7	)
Income before Income Tax			22				749				1.9				13,094				20.3				31,572				36.1				(12,345	)			(94.3	)			(30,823	)			(97.6	)
Income Tax Benefits (Expenses)			22				739				1.9				(452	)			(0.7	)			(3,336	)			(3.8	)			1,191				(263.5	)			4,075				(122.2	)
Net Income			44				1,488				3.8				12,642				19.6				28,236				32.3				(11,154	)			(88.2	)			(26,748	)			(94.7	)
Minority Interests			2				71				0.1				(196	)			(0.3	)			(93	)			(0.1	)			267				(136.3	)			164				(176.8	)
Net Income Attributable to Shareholders of the Parent			46				1,559				3.9				12,446				19.3				28,143				32.2				(10,887	)			(87.5	)			(26,584	)			(94.5	)
Earnings per Share — Diluted		$	0.00			$	0.06							$	0.48							$	1.08								($0.42	)			(87.5	)			($1.02	)			(94.4	)
Earnings per ADR — Diluted(2)		$	0.01			$	0.30							$	2.42							$	5.38								($2.12	)			(87.5	)			($5.08	)			(94.4	)
Weighted Average Outstanding Shares — Diluted (‘M) (3)							25,792								25,655								26,167

		TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flows For The Three Months Ended March 31, 2009, December 31, 2008, and March 31, 2008 (Expressed in Millions of New Taiwan Dollars (“NTD”) and U.S. Dollars (“USD”)) (1)

		1Q 2009								4Q 2008				1Q 2008
		(unaudited)								(unaudited)				(unaudited)
		USD				NTD				NTD				NTD
Cash Flows from Operating Activities:
Net Income		$	46			$	1,559			$	12,446			$	28,143
Net Income (Loss) Attributable to Minority Interest			(2	)			(71	)			196				93
Depreciation & Amortization			604				20,483				20,961				19,831
Deferred Income Tax			(41	)			(1,394	)			154				435
Equity in Loss (Earnings) of Equity Method Investees, Net			24				813				340				(577	)
Changes in Working Capital & Others			159				5,398				29,147				9,370
Net Cash Provided by Operating Activities			790				26,788				63,244				57,295
Cash Flows from Investing Activities:
Acquisitions of:
Marketable Financial Instruments			(273	)			(9,251	)			(33,059	)			(13,902	)
Investments Accounted for Using Equity Method			—				—				(1	)			—
Property, Plant and Equipment			(166	)			(5,617	)			(11,258	)			(15,313	)
Financial Assets Carried at Cost			(2	)			(83	)			(73	)			(213	)
Proceeds from Disposal or Maturity of:
Marketable Financial Instruments			680				23,053				63,368				26,816
Property, Plant and Equipment			—				2				24				1
Financial Assets Carried at Cost			—				—				73				93
Others			1				32				(1,061	)			(607	)
Net Cash Provided by (Used In) Investing Activities			240				8,136				18,013				(3,125	)
Cash Flows from Financing Activities:
Decrease in Guarantee Deposits			(5	)			(165	)			(140	)			(371	)
Proceeds from Exercise of Stock Options			—				15				5				81
Repayment of Long-Term Bonds Payable			(236	)			(8,000	)			—				—
Repurchase of Treasury Stock			—				—				—				(3,054	)
Others			9				275				(163	)			58
Net Cash Used in Financing Activities			(232	)			(7,875	)			(298	)			(3,286	)
Net Increase in Cash and Cash Equivalents			798				27,049				80,959				50,884
Effect of Exchange Rate Changes and Others			47				1,599				1,209				(1,593	)
Cash and Cash Equivalents at Beginning of Period			5,737				194,614				112,446				94,986
Cash and Cash Equivalents at End of Period		$	6,582			$	223,262			$	194,614			$	144,277