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This list shows firms in the Fortune Global 500, which ranks firms by total revenues reported before 31 March 2019.
This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmarktaxonomy. Organizations which have ceased operations are included and noted as defunct. Active firms State-owned firms Defunct firms
Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the ...
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Taipower was established on 1 May 1946. In 1994 a measure which allowed independent power producers (IPP's) to provide up to 20 percent of Taiwan's electricity should have ended the monopoly. On 1 October 2012, Taipower allied with Taiwan Water Corporation to provide cross-agency integrated services called Water and Power Associated Service that accepts summary transactions between the two utilities. On 11 October 2012, the Economics Committee of the Legislative Yuan cut Taipower's budget for power purchases from IPP. In July 2015, the Executive Yuan approved the amendments to the Electricity Act which were proposed by the Ministry of Economic Affairs, which will divide Taipower into two separate business groups in the next five to nine years: a power generation company and a power gridcompany. The measures were taken to improve efficiency within the company and to encourage positive competition within the industry. On 20 October 2016, the Executive Yuan passed an amendments to the...
Taipower operates all of Taiwan's two active nuclear power plants. It also operates coalpower plants, but these are planned to be shut down in favor of natural gas turbines. The company is expecting its first deliveries of liquefied natural gas(LNG) in 2023 as Taipower is moving away from coal for power generation.Taiwan Power Research InstituteCommitteesDepartment of Nuclear and Fossil Power ProjectsLegal Affairs Office
Taipower headquarters is housed in a 27-story building located in Zhongzheng District, Taipei. Completed in 1983, it was then the tallest building in Taiwan and the first building to surpass the 100 meter height.
Vanguard International Semiconductor Corporation (VIS) is a Taiwanese specialized IC foundry service provider, founded in December 1994 in Hsinchu Science Park by Morris Chang. In March 1998, VIS became a listed company on the Taiwan ...
- Ships Built
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CSBC Corporation, Taiwan, formerly known as China Shipbuilding Corporation (CSBC, Chinese: 中國造船; pinyin: Zhōngguó Zàochuán), is the result of the merger of Taiwan Shipbuilding Corporation and China Shipbuilding Corporation. Shipbuilding in Taiwan began in 1937 during the Japanese colonial period when Mitsubishi Heavy Industries Corporation founded the Taiwan Dockyard Corporation. Following Japan's defeat in World War II, the Republic of Chinaauthorities established Taiwan Machinery and Shipbuilding Company by merging the existing Taiwan Dockyard Corporation with Taiwan Steel Works and Tōkō Kōgyō Corporation. Two years later, in 1948, the company split into two state-owned companies called Taiwan Machinery Corporation and Taiwan Shipbuilding Corporation (TSBC). China Shipbuilding Corporation (CSBC) was founded in 1973 and reverted to a government-owned company in 1977. CSBC and TSBC merged in 1978 and was known as China Shipbuilding Corporation until 2007. On 9 February 2007, the boa...
1. ROCS Pan Shi 2. Cheng Kung-class frigate 1. 1.1. ROCS Cheng Kung 1.2. ROCS Cheng Ho 1.3. ROCS Chi Kuang 1.4. ROCS Yueh Fei 1.5. ROCS Tzu I 1.6. ROCS Pan Chao 1.7. ROCS Chang Chien 1.8. ROCS Tian Dan 1. Ching Chiang-class patrol ship 2. Kuang Hua VI-class missile boat 3. Dvora-class fast patrol boat 4. Chiayi-class offshore patrol vessel 5. Yushan-class landing platform dock
1. Marlin Class Heavy Lift Ship 1. 1.1. MV Blue Marlin 1.2. MV Black Marlin 1. MV Tygra 2. Fort Saint Louis class containers ships 1. 1.1. CMA CGM Fort Saint Louis 1.2. CMA CGM Fort Saint Pierre 1.3. CMA CGM Fort Sainte Marie 1.4. CMA CGM Fort Saint Georges 1. Pan Shi Fast Combat Support Ship (AOE-532) 2. 127 Xinbei, a 2000-ton patrol vessel built for Coast Guard Administration 3. 102 Wei Hsung, a 1,800-ton patrol vessel built for the Coast Guard Administration in 1992 4. Sea-Based X-Band Rad...
Modification and repair
As of 2019 ship repair accounted for 3–5% of CSBC revenues, with the company working to increase that share because of favorable margins in the space. In 2019 CSBC Corp. completed a green retrofit of a 13,000 TEU container ship owned by Orient Overseas Container Line. Modifications included a flue gas desulfurization system to bring the ship into compliance with United Nations IMO 2020emissions goals.
CSBC and one of its ships is featured in episode two of the National Geographic Channel’s Superstructures: Engineering Marvels.
Renewable energy is useful energy that is collected from renewable resources, which are naturally replenished on a human timescale, including carbon neutral sources like sunlight, wind, rain, tides, waves, and geothermal heat. This type of ...
- Taiwan Beer
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The company today known as TTL had its origins in a government agency established by Taiwan's Japanese rulers in 1901. The Monopoly Bureau of the Taiwan Governor's Office Chinese: 臺灣總督府專賣局 was responsible for all liquor and tobacco products in Taiwan as well as opium, salt, and camphor. The Bureau began brewing Takasago Beer in 1922 through the Takasago Malted Beer Company (founded in 1919). Light and dark varieties were offered, though the price of Takasago Beer varied widely over the course of its manufacture depending on the availability of imported Japanese beers and the contingencies of the economy. As World War II reached its conclusion in the 1940s matches, petroleum and standard weights and measuresalso came under the Monopoly Bureau's authority. After the war, the incoming Chinese Nationalists preserved the monopoly system for alcohol and tobacco. Production of beer was assigned in 1945 to the Taiwan Provincial Monopoly Bureau (臺灣省專賣局). Takasago Beer was renamed Taiwan Beer...
Taiwan Beer is the main brand of the Taiwan Tobacco and Liquor Corporation. The brand, an icon of Taiwanese culture, began as a monopoly product but has remained the best-selling beer on the island in the era of free trade. Taiwan Beer has incorporated locally produced ponlai rice in its recipe since the 1960s, giving the beer a distinctive flavour. Taiwan Beer brews have won international awards, including the International Monde Selectionin 1977 and the Brewing Industry International Awards in 2002. Three lager brews, all amber, are sold under the Taiwan Beer brand name. Original and Gold Medal, introduced in April 2003, are 4.5% abv and have a wide domestic distribution. The newest lager, Draft, appears most often in bars and restaurants, where it is available on tap or in its signature solid green bottle. Designed to be sold fresh, it is rarely seen in stores due to its early expiration date. Taiwan Beer is mass-produced at the Wuri Beer Factory (烏日啤酒廠) in Wuri District, Taichun...
TTL marketing strategies include advertisements featuring celebrity endorsements by popular Taiwanese figures such as A-Mei. A basketball team named Taiwan Beer, popularly nicknamed 'The Brew Crew,' is sponsored by the company. The Taiwan Beer Bar and Beer Garden is a brewpub in Taipei. The Factory, near the Wujih station of the Taiwan High Speed Rail, is the site of an annual Taiwan Beer Festival (台灣啤酒節) held every summer.Taipei Beer plantNantou WineryTTL Convenience StoreCase Study: TsingTao and Taiwan Beer: Trademark Dispute Between Beijing and TaipeiLin, Jackie. "Beer fight is about politics: TTL." Taipei Times, 2004-07-02."2008 Taiwan Beer Festival." Taipei Times, 2008-08-01.Review: Taiwan Beer Bar. Taiwan Funmagazine, 2005-08.
- Production Capabilities
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The company has been increasing and upgrading its manufacturing capacity for most of its existence, although influenced by the demand cycles of the semiconductor industry. In 2011, the company planned to increase research and development expenditures by almost 39% to NT$50 billion in an effort to fend off growing competition. The company also planned to expand capacity by 30% in 2011 to meet strong market demand. In May 2014, TSMC's board of directors approved capital appropriations of US$568 million to establish, convert, and upgrade advanced technology capacity after the company forecast higher than expected demand.In August 2014, TSMC's board of directors approved additional capital appropriations of US$3.05 billion. In 2011, it was reported that TSMC had begun trial production of the A5 SoC and A6 SoCs for Apple's iPad and iPhone devices. According to reports, as of May 2014, Apple is sourcing its new A8 and A8X SoCs from TSMC and later sourced the A9 SoC with both TSMC and Sams...
TSMC’s N7+ is the first commercially-available extreme-ultraviolet lithographic process in the semiconductor industry. It uses ultraviolet patterning and enables more acute circuits to be implemented on the silicon. N7+ offers a 15-20% higher transistor density and 10% reduction in power consumption than previous technology. The N7 achieved the fastest ever volume time to market, faster than 10 nm and 16 nm.The N5 iteration doubles transistor density and improves performance by an additional 15%.
On 300 mm wafers, TSMC has silicon lithography on node sizes: 1. 0.13 μm (options: general-purpose (G), low-power (LP), high-performance low-voltage (LV)). 2. 90 nm (based upon 80GC from Q4/2006), 3. 65 nm (options: general-purpose (GP), low-power (LP), ultra-low power (ULP), LPG). 4. 55 nm (options: general-purpose (GP), low-power (LP)). 5. 40 nm (options: general-purpose (GP), low-power (LP), ultra-low power (ULP)). 6. 28 nm (options: high-performance (HP), high-performance mobile (HPM), high-performance computing (HPC), high-performance low-power (HPL), low-power (LP), high-performance computing Plus (HPC+), ultra-low power (ULP)) with HKMG. 7. 22 nm (options: ultra-low power (ULP), ultra-low leakage (ULL)) 8. 20 nm 9. 16 nm (options: FinFET (FF), FinFET Plus (FF+), FinFET Compact (FFC)) 10. 12 nm (options: FinFET Compact (FFC), FinFET NVIDIA(FFN)), enhanced version of 16 nm process. 11. 10 nm (options: FinFET (FF)) 12. 7 nm (options: FinFET (FF), FinFET Plus (FF+), FinFET Pro (F...
Apart from its main base of operations in Hsinchu in Northern Taiwan, where several of its fab facilities are located, it also has leading-edge fabs in Southern Taiwan and Central Taiwan, with other fabs located at its subsidiaries TSMC China in Shanghai, China, WaferTech in Washington state, United States, and SSMC in Singapore,and it has offices in China, Europe, India, Japan, North America, and South Korea. The following fabs were in operation in 2020: 1. Four 300 mm "GIGAFABs" in operation in Taiwan: Fab 12 (Hsinchu), 14 (Tainan), 15 (Taichung), 18 (Tainan) 2. Four 200 mm waferfabs in full operation in Taiwan: Fab 3, 5, 8 (Hsinchu) , 6 (Tainan) 3. TSMC China Company Limited, 200 mm: Fab 10 (Shanghai) 4. TSMC Nanjing Company Limited, 300 mm: Fab 16 (Nanjing) 5. WaferTech L.L.C., TSMC's wholly owned US subsidiary, a 200 mm fab: Fab 11 (Camas, Washington) 6. SSMC (Systems on Silicon Manufacturing Co.), a joint venture with NXP Semiconductors in Singapore, 200 mm, where production s...
TSMC and the rest of the foundry industry are exposed to the highly cyclical nature of the semiconductor industry. During upturns, TSMC must ensure that it has enough production capacity to meet strong customer demand. However, during downturns, it must contend with excess capacity because of weaker demand, and the high fixed costs associated with its manufacturing facilities.As a result, the company's financial results tend to fluctuate with a cycle time of a few years. This is more apparent in earnings than revenues because of the general trend of revenue and capacity growth. TSMC's business has generally also been seasonal with a peak in Q3 and a low in Q1. In 2014, TSMC was at the forefront of the foundry industry for high-performance, low-power applications, leading major smartphone chip companies such as Qualcomm, Mediatek and Apple to place an increasing amount of orders. While the competitors in the foundry industry (primarily GlobalFoundries and United Microelectronics Corp...
In July 2020, TSMC signed a 20 year deal with Ørsted to buy the entire production of two offshore wind farms under development off Taiwan’s west coast. At the time of its signing it was the largest corporate green energyorder ever made.
- Capital Structure
- Investment and Project valuation
- Dividend Policy
- Working Capital Management
- Relationship with Other Areas in Finance
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Corporate finance for the pre-industrial world began to emerge in the Italian city-states and the low countriesof Europe from the 15th century. Public markets for investment securities developed in the Dutch Republic during the 17th century. It is important to note that from about the early 1600s to about the mid-18th century, the Dutch Republic's economic, business and financial systemswere the most advanced and sophisticated ever seen in history. By the early 1800s, London acted as a center of corporate finance for companies around the world, which innovated new forms of lending and investment. The twentieth century brought the rise of managerial capitalism and common stock finance. Modern corporate finance, alongside investment management, developed in the second half of the 20th century, particularly driven by innovations in theory and practice in the United States and Britain.
The primary goal of financial management is to maximize or to continually increase shareholder value. Maximizing shareholder value requires managers to be able to balance capital funding between investments in "projects"that increase the firm's long term profitability and sustainability, along with paying excess cash in the form of dividends to shareholders. Managers of growth companies (i.e. firms that earn high rates of return on invested capital) will use most of the firm's capital resources and surplus cash on investments and projects so the company can continue to expand its business operations into the future. When companies reach maturity levels within their industry (i.e. companies that earn approximately average or lower returns on invested capital), managers of these companies will use surplus cash to payout dividends to shareholders. Managers must do an analysis to determine the appropriate allocation of the firm's capital resources and cash surplus between projects and p...
Achieving the goals of corporate finance requires that any corporate investment be financed appropriately. The sources of financing are, generically, capital self-generated by the firm and capital from external funders, obtained by issuing new debt and equity (and hybrid- or convertible securities). However, as above, since both hurdle rate and cash flows (and hence the riskiness of the firm) will be affected, the financing mix will impact the valuation of the firm, and a considered decision is required here. Finally, there is much theoretical discussion as to other considerations that management might weigh here.
In general, each project's value will be estimated using a discounted cash flow (DCF) valuation, and the opportunity with the highest value, as measured by the resultant net present value (NPV) will be selected (applied to Corporate Finance by Joel Dean in 1951). This requires estimating the size and timing of all of the incremental cash flows resulting from the project. Such future cash flows are then discounted to determine their present value (see Time value of money). These present values are then summed, and this sum net of the initial investment outlay is the NPV. See Financial modeling#Accounting for general discussion, and Valuation using discounted cash flowsfor the mechanics, with discussion re modifications for corporate finance. The NPV is greatly affected by the discount rate. Thus, identifying the proper discount rate – often termed, the project "hurdle rate" – is critical to choosing good projects and investments for the firm. The hurdle rate is the minimum acceptable...
Dividend policy is concerned with financial policies regarding the payment of a cash dividend in the present or paying an increased dividend at a later stage. Whether to issue dividends, and what amount, is determined mainly on the basis of the company's unappropriated profit(excess cash) and influenced by the company's long-term earning power. When cash surplus exists and is not needed by the firm, then management is expected to pay out some or all of those surplus earnings in the form of cash dividends or to repurchase the company's stock through a share buyback program. If there are no NPV positive opportunities, i.e. projects where returns exceed the hurdle rate, and excess cash surplus is not needed, then – finance theory suggests – management should return some or all of the excess cash to shareholders as dividends. This is the general case, however there are exceptions. For example, shareholders of a "growth stock", expect that the company will, almost by definition, retain m...
Managing the corporation's working capital position to sustain ongoing business operations is referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. In general this is as follows: As above, the goal of Corporate Finance is the maximization of firm value. In the context of long term, capital budgeting, firm value is enhanced through appropriately selecting and funding NPV positive investments. These investments, in turn, have implications in terms of cash flow and cost of capital. The goal of Working Capital (i.e. short term) management is therefore to ensure that the firm is able to operate, and that it has sufficient cash flow to service long-term debt, and to satisfy both maturing short-term debt and upcoming operational expenses. In so doing, firm value is enhanced when, and if, the return on capital exceeds the cost of capital; See Economic value added(EVA). Managing short term finance...
Use of the term "corporate finance" varies considerably across the world. In the United States it is used, as above, to describe activities, analytical methods and techniques that deal with many aspects of a company's finances and capital. In the United Kingdom and Commonwealth countries, the terms "corporate finance" and "corporate financier" tend to be associated with investment banking – i.e. with transactions in which capital is raised for the corporation.These may include 1. Mergers and...
Financial risk management
Risk management is the process of measuring risk and then developing and implementing strategies to manage ("hedge") that risk. Financial risk management, typically, is focused on the impact on corporate value due to adverse changes in commodity prices, interest rates, foreign exchange rates and stock prices (market risk). It will also play an important role in short term cash- and treasury management; see above. It is common for large corporations to have risk management teams; often these o...Jensen, Michael C.; Smith. Clifford W. The Theory of Corporate Finance: A Historical Overview. External link in |title= (help) In The Modern Theory of Corporate Finance, edited by Michael C. Jensen...Graham, John R.; Harvey, Campbell R. (1999). "The Theory and Practice of Corporate Finance: Evidence from the Field". AFA 2001 New Orleans; Duke University Working Paper. SSRN 220251.Jonathan Berk; Peter DeMarzo (2013). Corporate Finance (3rd ed.). Pearson. ISBN 978-0132992473.Peter Bossaerts; Bernt Arne Ødegaard (2006). Lectures on Corporate Finance (Second ed.). World Scientific. ISBN 978-981-256-899-1.Richard Brealey; Stewart Myers; Franklin Allen (2013). Principles of Corporate Finance. Mcgraw-Hill. ISBN 978-0078034763.Aswath Damodaran (1996). Corporate Finance: Theory and Practice. Wiley. ISBN 978-0471076803.
- Ownership and Control
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- Website Blocking
Johann Rupert founded Compagnie Financière Richemont SA in 1988 when he spun off the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Anton Rupert. The luxury goods investments of Rembrandt Group combined with Rothmans Internationalformed the initial group of Richemont subsidiaries. In March 2007, Richemont and Polo Ralph Lauren Inc.announced the formation of a 50/50 joint venture, the Polo Ralph Lauren Watch and Jewelry Company SÀRL. In October 2008, the Group divested all of its remaining interests in the tobacco industry. As of November 2012[update], Compagnie Financière Richemont SA is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH. The compensation of the Richemont group's executives increased by an average of 14% in 2018.
Compagnie Financière Richemont SA organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses. Cartier, Van Cleef & Arpels, Buccellati, constitute the Jewellery Maisons. The Specialist Watchmakers group is composed of A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin and the joint venture with the Ralph Lauren Watch & JewelryCo. The Other Businesses division includes Azzedine Alaïa, Chloé, Dunhill, Lancel, Montblanc, Peter Millar, and Purdey.
The largest significant shareholder of Compagnie Financière Richemont SA is Compagnie Financière Rupert, a Swiss company that holds shares controlled and principally owned by Johann Rupert. Compagnie Financière Rupert owns 522,000,000 Class "B" shares of Compagnie Financière Richemont SA, representing 9.1% of the equity and 50% of the voting rights. Johann Rupert and Compagnie Financière Rupert also hold 2,836,664 class "A" shares or "A" share equivalents as of the end of March 2016.
The following companies are wholly owned subsidiaries of Compagnie Financière Richemont SA unless otherwise noted. 1. A. Lange & Söhne— watches; based in Glashütte, Germany 2. Azzedine Alaïa— women's fashions; based in Paris, France 3. BAUMEwatches based in Geneva, Switzerland 4. Buccellati- fine jewelry and watches; based in Milan, Italy 5. Giampiero Bodino— fine jewellery; based in Milan, Italy 6. IWC Schaffhausen— watches; based in Schaffhausen, Switzerland 7. Jaeger-LeCoultre— watches; ba...
1. Ralph Lauren Watch and Jewelry Co.(50%) — watches, jewellery; based in Geneva, Switzerland.
1. YOOX NET-A-PORTER GROUP— ecommerce; based in Milan, Italy.
Richemont acquired British clothing retailer Hackett Limited in 1992. On 2 June 2005, Richemont announced its sale to Spanish investment company Torreal S.C.R., S.A. In 1998, Richemont bought a controlling stake in Shanghai Tang.In July 2017, Richemont announced that it had sold Shanghai Tang to a group of investors headed by Italian entrepreneur Alessandro Bastagli. In 2000, the Group sold its minority stake in Vivendi, representing its exit from all previous media interests, which had included NetHold and Canal+. Richemont and Mimi So formed a joint venture in 2004, Richemont's first investment in an American brand.In 2007, Richemont requested to become the majority partner of the joint venture. Mimi So declined and purchased Richemont's stake in the venture. In 2008, Richemont spun off all of its non-luxury goods businesses, principally Richemont's stake in British American Tobacco, into a newly formed, separately traded holding company, Reinet Investments S.C.A. In 2015, the Net...
In October 2014 the first blocking order against trademark infringing consumer goods was passed against the major UK ISPs by Richemont, Cartier International and Montblancto block several domains selling trademark infringing products.