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

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

				1Q07   Quarterly Management Report April 26, 2007

CONTACT
Elizabeth Sun / Harrison Hsueh
Julie Wei
Investor Relations Division
TSMC
invest@tsmc.com
886-3-568-2085/2088/ 2086

Topics in This Report

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

Operating Results Review:

Summary:

(Amounts are on consolidated basis and are in
NT$ billion except noted otherwise)		1Q07				4Q06				1Q06				QoQ				YoY
EPS (NT$  per com. shr.)			0.73				1.08				1.26				(32.5	%)			(42.3	%)
(US$  per ADR unit)			0.11				0.16				0.20
Consolidated Net Sales			64.90				74.96				77.85				(13.4	%)			(16.6	%)
Gross Profit			24.61				34.45				37.73				(28.6	%)			(34.8	%)
Gross Margin			37.9	%			46.0	%			48.5	%
Operating Expense			(6.73	)			(7.05	)			(6.82	)			(4.4	%)			(1.3	%)
Non-Operating Items*			2.19				2.10				3.62				4.3	%			(39.5	%)
Net Income			18.84				27.91				32.61				(32.5	%)			(42.2	%)
Net Profit Margin			29.0	%			37.2	%			41.9	%
Wafer Shipment (kpcs 8 inch-equiv.)			1,566				1,718				1,738				(8.9	%)			(9.9	%)

Remarks:

The first quarter diluted earnings per share were NT$0.73, representing a 42.3% decrease over the same period last year and a 32.5% sequential decline from the previous quarter. The consolidated operating results of 1Q07 are summarized below:

First quarter net sales were NT$65 billion, down 16.6% from NT$78 billion in first quarter 2006 and down 13.4% from NT$75 billion in fourth quarter 2006.

Gross profit for 1Q07 was NT$24.6 billion, representing a year-over-year decrease of 34.8% and a quarter-over-quarter decline of 28.6%. Gross margin was 37.9% in the first quarter 2007, down from 46% in the previous quarter.

Operating expenses were NT$6.7 billion or 10.4% of the net sales. The combined result from non-operating income and long-term investments was a gain of NT$2.2 billion.

Consolidated net income attributable to shareholders of the parent company was NT$18.8 billion, down 42.2% over the same period last year and down 32.5% from the previous quarter. Net profit margin was 29% in first quarter 2007.

TSMC
April 26, 2007		Page 2

I. Revenue Analysis

I. Wafer Sales Analysis

By Application		1Q07				4Q06				1Q06
Computer			29	%			32	%			37	%
Communication			42	%			42	%			39	%
Consumer			16	%			16	%			18	%
Industrial/Others			9	%			7	%			5	%
Memory			4	%			3	%			1	%

By Technology		1Q07				4Q06				1Q06
N90-			23	%			23	%			20	%
0.11/0.13um			26	%			25	%			29	%
0.15/0.18um			30	%			33	%			32	%
0.25/0.35um			15	%			14	%			14	%
0.50um+			6	%			5	%			5	%

By Customer Type		1Q07				4Q06				1Q06
Fabless/System			70	%			72	%			74	%
IDM			30	%			28	%			26	%

By Geography		1Q07				4Q06				1Q06
North America			77	%			78	%			78	%
Asia Pacific			11	%			11	%			11	%
Europe			7	%			7	%			7	%
Japan			5	%			4	%			4	%

Revenue Analysis:

First quarter business was affected by inventory correction and seasonality, but consolidated net sales exceeded the high end of the guidance slightly to reach NT$64.9 billion, mainly due to better than expected exchange rates and an increase in revenues from our subsidiaries.

On a sequential basis, revenues from all three applications declined. Revenues from computer, communications and consumer applications declined by 21%, 15% and 12%, respectively.

Revenues from 65nm and 90nm accounted for about 23% of total wafer sales, flat from the fourth quarter 2006. Revenues from advanced technologies (0.13-micron and below) accounted for 49% of total wafer sales, up one percentage point from the previous quarter.

Revenues from IDM customers accounted for 30% of total wafer sales during the quarter, compared to 28% in the previous quarter.

Geographically, revenues from North America accounted for 77% of total wafer sales. Meanwhile, sales from Asia Pacific, Europe and Japan accounted for 11%, 7% and 5% of wafer sales, respectively.

TSMC
April 26, 2007		Page 3

II. Capacity

II. Capacity

				1Q07				2Q07				3Q07				4Q07				2007
Fab / (Wafer size)				(A)				(F)				(F)				(F)				(F)
Fab-2		(6")1			257				257				273				273				1,060
Fab-3		(8")			259				262				267				269				1,057
Fab-5		(8")			144				155				163				166				627
Fab-6		(8")			245				255				274				279				1,053
Fab-7		(8")			0				0				0				0				0
Fab-8		(8")			239				239				260				265				1,004
Fab-12		(12")2			169				180				205				221				775
Fab-14		(12")2			103				113				154				176				546
WaferTech		(8")			104				105				106				106				419
TSMC (Shanghai)		(8")			90				94				98				101				383
TSMC total capacity (8" equiv. Kpcs)					1,836				1,913				2,128				2,232				8,109
SSMC		(8")			53				55				56				61				226
Total managed capacity (8" equiv. Kpcs)					1,890				1,968				2,184				2,293				8,335

Capacity :

Total TSMC managed capacity was 1,890K 8-inch equivalent wafers in 1Q07, 1% lower than the 1,912K 8-inch equivalent wafers in 4Q06, largely due to fewer working days and scheduled annual maintenance for some of the TSMC fabs.

TSMC managed capacity in 2Q07 will increase by 4% to reach 1,968K 8-inch equivalent wafers.

Total managed capacity for year 2007 is expected to be 8,335K 8-inch equivalent wafers, up 18% from 7,062K 8-inch equivalent wafers in year 2006.

III. Profit & Expense Analysis

III — 1. Gross Profit Analysis

(Amount: NT$ billion)		1Q07				4Q06				1Q06
COGS			40.3				40.5				40.1
Depreciation			18.5				18.2				16.2
Other MFG Cost			21.8				22.3				23.9
Gross Profit			24.6				34.5				37.7
Gross Margin			37.9	%			46.0	%			48.5	%

Gross Profit Analysis:

Consolidated gross profit for the first quarter 2007 was NT$24.6 billion, or 37.9% of net sales, down from a gross profit of NT$34.5 billion, or 46% of net sales, in the previous quarter. The gross margin declined by 8.1 percentage points largely due to lower capacity utilization, lower average selling price, an increase in depreciation expenses, and a lower provision for sales returns in 4Q06.

TSMC
April 26, 2007		Page 4

III — 2. Operating Expenses

(Amount: NT$ billion)		1Q07				4Q06				1Q06
Total Operating Exp.			6.73				7.05				6.82
SG&A			2.79				2.92				2.98
Research & Development			3.94				4.13				3.84

Operating Expenses:

Total operating expenses for 1Q07 were NT$6.7 billion, compared to NT$7.1 billion in fourth quarter 2006. Total operating expenses represented 10.4% of net sales, compared to 9.4% for the previous quarter.

Research and development expenditures decreased by NT$193 million sequentially, mainly due to a reduction in 65nm related expenditures as we entered into volume production for 65nm process node.

SG&A expenses were NT$2.8 billion, compared to NT$2.9 billion in fourth quarter 2006.

III — 3. Non-Operating Items

(Amount: NT$ million)		1Q07				4Q06				1Q06
Non-Operating Income/(Exp.)			1,830				1,713				1,417
Net Interest Income/(Exp.)			1,162				1,030				775
Other Non-Operating			668				683				642
L-T Investments			361				388				600
SSMC			70				59				462
Others			291				329				138
Total Non-Operating Items			2,191				2,101				2,017

Non-Operating Items:

Combined result from non-operating income and long-term investments was a gain of NT$2.2 billion for first quarter 2007.

Non-operating income totaled NT$1.8 billion during the first quarter 2007, compared to an income of NT$1.7 billion in the previous quarter. Higher non-operating income was mainly due to an increase in interest income.

Net investment income was NT$361 million in first quarter 2007, compared to an income of NT$388 million in 4Q06.

TSMC
April 26, 2007		Page 5

IV. Financial Condition Review

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

(Amount: NT$ billion)		1Q07				4Q06				1Q06
Cash & Marketable Securities			217.4				195.1				192.3
Accounts Receivable — Trade			33.1				31.6				38.0
Inventory			22.3				21.4				18.4
Total Current Assets			286.1				260.3				259.3
Accounts Payable			19.2				20.6				22.4
Current Portion of Bonds Payable			4.5				7.0				2.5
Accrued Liabilities and Others			21.4				19.3				16.0
Total Current Liabilities			45.1				46.9				40.9
Current Ratio (x)			6.3				5.6				6.3
Net Working Capital			241.0				213.5				218.4

Liquidity Analysis:

Total cash and marketable securities increased by NT$22 billion in the first quarter 2007, mainly due to the free cash flows generated during the quarter. As a result, TSMC ended the quarter with NT$286.1 billion in total current assets, compared to NT$260.3 billion at the end of the previous quarter.

Total current liabilities were NT$45.1 billion at the end of the first quarter 2007, compared to NT$46.9 billion at the end of the previous quarter. The decrease was mainly due to the repayment of NT$2.5 billion in bonds payable.

As a result, net working capital increased to NT$241 billion and current ratio improved to 6.3.

IV — 2. Receivable/Inventory Days

		1Q07				4Q06				1Q06
Days of Receivable			47				43				46
Days of Inventory			52				50				44

Receivable/Inventory Days Trend:

Days of receivable were 47 days in 1Q07, compared to 43 days in the previous quarter.

Days of inventory increased by 2 days to reach 52 days.

IV — 3. Debt Service

(Amount: NT$ billion)		1Q07				4Q06				1Q06
Cash & Marketable Securities			217.4				195.1				192.3
Interest-Bearing Debt			26.2				27.6				27.2
Net Cash Reserves			191.2				167.5				165.1

Debt Service:

As a result of the free cash flows generated during the quarter, net cash reserves — defined as the excess of cash and short-term marketable securities over interest-bearing debt — increased by NT$23.7 billion to reach NT$191.2 billion in 1Q07.

TSMC
April 26, 2007		Page 6

V. Cash Flow & CapEx

V — 1. Consolidated Cash Flow Analysis

(Amount: NT$ billion)		1Q07				4Q06				1Q06
Net Income			18.8				27.9				32.6
Depreciation & Amortization			20.3				19.7				17.7
Other Op Sources/(Uses)			(1.0	)			5.4				(1.4	)
Total Op Sources/(Uses)			38.1				53.0				48.9
Capital Expenditure			(14.0	)			(17.6	)			(11.5	)
Marketable Financial Instruments			3.5				(6.7	)			(12.8	)
Other Investing Sources/(Uses)			(2.9	)			(4.1	)			0.2
Net Investing Sources/(Uses)			(13.4	)			(28.4	)			(24.1	)
Repayment of Bonds Payable			(2.5	)			0.0				0.0
Other Financing Sources/(Uses)			(0.3	)			0.8				0.1
Net Financing Sources/(Uses)			(2.8	)			0.8				0.1
Net Cash Position Changes			21.9				25.4				24.9
Exchange Rate Changes & Others			0.6				(0.5	)			(0.2	)
Ending Cash Balance			140.3				117.8				121.3

Summary of Consolidated Cash Flow:

During first quarter 2007, TSMC generated NT$38 billion in cash from operating activities, mainly from net income of NT$18.8 billion and depreciation & amortization of NT$20.3 billion.

Net cash used in investment activities totaled NT$13.4 billion, mainly due to capital expenditures of NT$14 billion.

Net cash used in financing activities was NT$2.8 billion during the quarter, mainly for the repayment of NT$2.5 billion in bonds payable.

As a result, TSMC ended the quarter with a cash balance of NT$140.3 billion, NT$22.4 billion higher than in 4Q06.

V — 2. Consolidated Operating and Free Cash Flows

Consolidated Operating and Free Cash Flows:

TSMC continues to generate strong operating cash flows and free cash flows. Cash flows generated from operating activities were NT$38 billion, down from NT$53 billion generated in 4Q06. Free cash flows, defined as the excess of operating cash flows over capital expenditures, totaled NT$24.2 billion in 1Q07, compared to NT$35.4 billion generated in the previous quarter, mainly due to lower operating cash flows in 1Q07.

V — 3. Capital Expenditures

(In US$ Million)		4Q06				1Q07
TSMC			561				419
TSMC Subsidiaries			10				5
Total TSMC			571				424

Capital Expenditures:

Capital expenditures for TSMC consolidated group totaled US$424 million during the quarter. Most of the spending was for the purchase of 12-inch production equipment.

For year 2007, total capital expenditures for TSMC consolidated group is expected to be in the range of US$2.6 billion to US$2.8 billion, unchanged from our previous guidance provided in January 2007.

TSMC
April 26, 2007		Page 7

VI. Recap of Recent Important Events & Announcements

•		TSMC 45nm Design Ecosystem In Place (2007/04/09)
•		TSMC Expects to Enter 45nm Production in September (2007/04/09)
•		TSMC Board Approves Conversion of Philips’ TSMC Common Shares to ADSs (2007/04/02)
•		TSMC Announces 55nm Process Technology Readiness (2007/03/27)
•		Philips and TSMC Announce Joint Plan to Facilitate Orderly Exit by Philips from TSMC Shareholding (2007/03/09)
•		TSMC Achieves 65 Nanometer Embedded DRAM Milestone (2007/03/06)
•		TSMC Board Proposes Distribution of NT$3.0 Cash and 0.5% Stock Per Share (2007/02/06)
•		TSMC Opens Office in India (2007/02/05)

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⁾

		March 31, 2007 (unaudited)												December 31, 2006 (Audited)								March 31, 2006 (unaudited)								QoQ								YoY
		USD				NTD				%				NTD				%				NTD				%				Amount				%				Amount				%
ASSETS
Current Assets
Cash and Cash Equivalents		$	4,239			$	140,274				23.0			$	117,837				20.1			$	121,251				21.8			$	22,437				19.0			$	19,023				15.7
Investments in Marketable Financial Instruments			2,330				77,096				12.7				77,242				13.1				71,006				12.8				(146	)			-0.2				6,090				8.6
Accounts Receivable — Trade			1,000				33,094				5.4				31,589				5.4				38,012				6.8				1,505				4.8				(4,918	)			-12.9
Inventories, Net			673				22,259				3.7				21,431				3.6				18,409				3.3				828				3.9				3,850				20.9
Other Current Assets			404				13,356				2.2				12,218				2.1				10,572				2.0				1,138				9.3				2,784				26.3
Total Current Assets			8,646				286,079				47.0				260,317				44.3				259,250				46.7				25,762				9.9				26,829				10.3
Long-Term Investments			1,577				52,185				8.6				53,895				9.2				34,726				6.3				(1,710	)			-3.2				17,459				50.3
Property, Plant and Equipment			22,188				734,182				120.6				717,132				122.1				655,396				118.0				17,050				2.4				78,786				12.0
Less: Accumulated Depreciation			(14,622	)			(483,834	)			-79.5				(463,038	)			-78.8				(413,852	)			-74.5				(20,796	)			4.5				(69,982	)			16.9
Property, Plant and Equipment, Net			7,566				250,348				41.1				254,094				43.3				241,544				43.5				(3,746	)			-1.5				8,804				3.6
Other Assets			609				20,159				3.3				19,179				3.2				19,772				3.5				980				5.1				387				2.0
Total Assets		$	18,398			$	608,771				100.0			$	587,485				100.0			$	555,292				100.0			$	21,286				3.6			$	53,479				9.6
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-Term Bank Loans		$	2			$	79				0.0			$	—				—			$	—				—			$	79				—			$	79				—
Accounts Payables			306				10,129				1.7				9,802				1.7				10,687				1.9				327				3.3				(558	)			-5.2
Payables to Contractors and Equipment Suppliers			275				9,094				1.5				10,769				1.8				11,680				2.1				(1,675	)			-15.6				(2,586	)			-22.1
Accrued Expenses and Other Current Liabilities			639				21,101				3.4				19,286				3.3				15,996				2.9				1,815				9.4				5,105				31.9
Current Portion of Bonds Payable and Long-Term liabilities			142				4,714				0.8				7,004				1.2				2,505				0.5				(2,290	)			-32.7				2,209				88.1
Total Current Liabilities			1,364				45,117				7.4				46,861				8.0				40,868				7.4				(1,744	)			-3.7				4,249				10.4
Bonds Payable			378				12,500				2.1				12,500				2.1				17,000				3.1				—				0.0				(4,500	)			-26.5
Other Long-Term Liabilities			586				19,415				3.2				18,986				3.2				18,813				3.3				429				2.3				602				3.2
Total Liabilities			2,328				77,032				12.7				78,347				13.3				76,681				13.8				(1,315	)			-1.7				351				0.5
Shareholders’ Equity Attributable to Shareholders of the Parent
Capital Stock			7,807				258,330				42.4				258,297				44.0				247,331				44.5				33				0.0				10,999				4.4
Capital Surplus			1,639				54,231				8.9				54,107				9.2				57,208				10.3				124				0.2				(2,977	)			-5.2
Retained Earnings			6,527				215,963				35.5				197,125				33.6				175,378				31.6				18,838				9.6				40,585				23.1
Treasury Stock			(28	)			(918	)			-0.2				(918	)			-0.2				(918	)			-0.2				—				0.0				—				—
Others			31				1,020				0.2				(630	)			-0.1				(1,066	)			-0.1				1,650				-261.9				2,086				-195.7
Total Equity Attributable to Shareholders of the Parent			15,976				528,626				86.8				507,981				86.5				477,933				86.1				20,645				4.1				50,693				10.6
Minority Interest			94				3,113				0.5				1,157				0.2				678				0.1				1,956				169.1				2,435				359.4
Total Shareholders’ Equity			16,070				531,739				87.3				509,138				86.7				478,611				86.2				22,601				4.4				53,128				11.1
Total Liabilities & Shareholders’ Equity		$	18,398			$	608,771				100.0			$	587,485				100.0			$	555,292				100.0			$	21,286				3.6			$	53,479				9.6

Note : (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the rate of NT$33.089 as of March 31, 2007.

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

Unaudited Consolidated Condensed Income Statements
For the Three Months Ended March 31, 2007, December 31, 2006, and March 31, 2006
(Expressed in Millions of New Taiwan Dollars (“NTD”) and U.S. Dollars (“USD”) ⁽¹⁾
Except for Per Share Amounts and Shares Outstanding)

		Q1 2007												Q4 2006								Q1 2006							QoQ									YoY
		USD				NTD				%				NTD				%				NTD				%				Amount				%				Amount				%
Net Sales		$	1,973			$	64,897				100.0			$	74,963				100.0			$	77,850				100.0			$	(10,066	)			-13.4			$	(12,953	)			-16.6
Cost of Sales			(1,225	)			(40,287	)			-62.1				(40,510	)			-54.0				(40,123	)			-51.5				223				-0.6				(164	)			0.4
Gross Profit			748				24,610				37.9				34,453				46.0				37,727				48.5				(9,843	)			-28.6				(13,117	)			-34.8
Operating Expenses
Research and Development Expenses (4)			(120	)			(3,942	)			-6.1				(4,135	)			-5.5				(3,840	)			-4.9				193				-4.6				(102	)			2.7
General and Administrative Expenses (4)			(58	)			(1,902	)			-2.9				(2,117	)			-2.8				(1,864	)			-2.4				215				-10.2				(38	)			2.0
Sales and Marketing Expenses (4)			(26	)			(889	)			-1.4				(794	)			-1.1				(1,121	)			-1.4				(95	)			11.9				232				-20.7
Total Operating Expenses			(204	)			(6,733	)			-10.4				(7,046	)			-9.4				(6,825	)			-8.8				313				-4.4				92				-1.3
Income from Operations			544				17,877				27.5				27,407				36.6				30,902				39.7				(9,530	)			-34.8				(13,025	)			-42.1
Non-Operating Income, Net			55				1,830				2.8				1,713				2.3				1,417				1.8				117				6.9				413				29.2
Investment Gains			11				361				0.6				388				0.5				600				0.8				(27	)			-7.1				(239	)			-39.9
Income before Income Tax			610				20,068				30.9				29,508				39.4				32,919				42.3				(9,440	)			-32.0				(12,851	)			-39.0
Income Tax (Expenses) Benefits			(33	)			(1,107	)			-1.7				(1,494	)			-2.0				(1,855	)			-2.4				387				-25.9				748				-40.3
Net Income Before Cumulative Effect of Changes in Accounting Principles			577				18,961				29.2				28,014				37.4				31,064				39.9				(9,053	)			-32.3				(12,103	)			-39.0
Cumulative Effect of Changes in Accounting Principles (Net of Tax)			—				—				—				—				—				1,607				2.1				—				—				(1,607	)			-100.0
Net Income			577				18,961				29.2				28,014				37.4				32,671				42.0				(9,053	)			-32.3				(13,710	)			-42.0
Minority Interest			(4	)			(122	)			-0.2				(102	)			-0.2				(64	)			-0.1				(20	)			18.9				(58	)			91.1
Net Income Attributable to Shareholders of the Parent			573				18,839				29.0				27,912				37.2				32,607				41.9				(9,073	)			-32.5				(13,768	)			-42.2
Earnings per Share — Diluted		$	0.02			$	0.73							$	1.08							$	1.26							-$	0.35				-32.5			-$	0.53				-42.3
Earnings per ADR — Diluted (2)		$	0.11			$	3.65							$	5.41							$	6.32							-$	1.76				-32.5			-$	2.67				-42.3
Weighted Average Outstanding Shares – Diluted (‘M) (3)							25,820								25,815								25,805

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

Consolidated Condensed Statements of Cash Flows

For the Three Months Ended March 31, 2007, December 31, 2006, and March 31, 2006

(Expressed in Millions of New Taiwan Dollars (“NTD”) and U.S. Dollars (“USD”)) ⁽¹⁾

		1Q 2007								4Q 2006				1Q 2006
		(Unaudited)								(Unaudited)				(Unaudited)
		USD				NTD				NTD				NTD
Cash Flows from Operating Activities:
Net Income		$	573			$	18,839			$	27,912			$	32,607
Net Income Attributable to Minority Interest			4				122				103				64
Depreciation & Amortization			616				20,251				19,682				17,734
Deferred Income Tax			(30	)			(972	)			7				(609	)
Equity in Earnings of Equity Method Investees, Net			(11	)			(361	)			(388	)			(600	)
Changes in Working Capital & Others			8				265				5,698				(282	)
Net Cash Provided by Operating Activities			1,160				38,144				53,014				48,914
Cash Flows from Investing Activities:
Acquisitions:
Marketable Financial Instruments			(480	)			(15,796	)			(38,210	)			(32,731	)
Investments Accounted for Using Equity Method			—				—				(2,433	)			—
Property, Plant and Equipment			(424	)			(13,959	)			(17,580	)			(11,510	)
Financial Assets Carried at Cost			(6	)			(212	)			(16	)			(122	)
Proceeds from Disposal or maturity of:
Marketable Financial Instruments			586				19,259				31,539				19,931
Investments Accounted for Using Equity Method			—				—				—				—
Property, Plant and Equipment			—				1				54				462
Financial Assets Carried at Cost			—				14				21				—
Others			(84	)			(2,717	)			(1,750	)			(142	)
Net Cash Used In Investing Activities			(408	)			(13,410	)			(28,375	)			(24,112	)
Cash Flows from Financing Activities:
Increase (Decrease) in Guarantee Deposits			(12	)			(388	)			133				322
Proceeds from Exercise of Stock Options			4				122				152				117
Bonus Paid to Directors and Supervisors			—				—				—				—
Repayment of Long-Term Bonds Payable			(76	)			(2,500	)			—				—
Cash Dividends Paid for Common Stock			—				—				—				—
Cash Bonus Paid to Employees			—				—				—				—
Others			(1	)			(28	)			480				(323	)
Net Cash (Used in) Provided by Financing Activities			(85	)			(2,794	)			765				116
Net Increase in Cash and Cash Equivalents			667				21,940				25,404				24,918
Effect of Exchange Rate Changes and Others			15				497				(470	)			(151	)
Cash and Cash Equivalents at Beginning of Period			3,583				117,837				92,903				96,484
Cash and Cash Equivalents at End of Period		$	4,265			$	140,274			$	117,837			$	121,251