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    2303   TW0002303005

UNITED MICROELECTRONICS CORPORATION

(2303)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-10-05
38.95 TWD   +1.70%
04:01pSector Update: Tech Stocks Give Back Earlier Gains, Ending Lower
MT
01:20pSector Update: Tech
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03:51aUnited Microelectronics Posts Higher Sales in September
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Denso bullish on business prospects as it tackles chip shortages

06/01/2022 | 03:59am EDT
FILE PHOTO: Denso Corp's robot arm

TOKYO (Reuters) - Denso Corp, Japan's largest auto supplier, was bullish about its prospects in a business presentation on Wednesday as demand for automotive chips expands and it tackles semiconductor shortages that have frustrated Toyota Motor Corp, its biggest shareholder and customer.

Chief Technology Officer Yoshifumi Kato said Denso expects demand for auto chips to be around a third higher by 2025 than it was in 2020, as the key component is increasingly used in fossil-fuel cars, electric vehicles and autonomous drive technology.

That growing demand has combined with COVID-19 pandemic supply-chain disruptions and increased competition for chips from consumer electronic makers to cause persistent shortages that have forced Toyota and other major carmakers to curb output even as car demand grows.

Toyota said last week that global production in April was 9.1% lower than a year earlier.

Denso, which specialises in vehicle air conditioning, power trains and automated driving systems, has responded to chip shortages with partnership deals aimed at securing access to key components.

In February it agreed to buy a 10% stake in a chip plant being built in Japan by Taiwan Semiconductor Manufacturing Co (TSMC) with Sony Group that will be producing 55,000 12-inch wafers a month from 2024.

That deal, Denso says, will help it procure microcontroller chips.

The plant on Kyushu island, which Japan's government is helping build as part of a strategy to avoid component shortages that could hurt economic growth, will also make chips for a nearby Sony image sensor factory.

In April, Denso also said it would collaborate with United Microelectronics Corp to produce semiconductor wafers in Japan in order to bolster production of power and analog chips.

Denso forecast on Wednesday that sales of those in-house semiconductors would grow by a fifth to 500 billion yen ($3.9 billion) in 2025.

($1 = 129.2300 yen)

(Reporting by Tim Kelly; Editing by Jacqueline Wong)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DENSO CORPORATION 0.11% 7155 Delayed Quote.-25.28%
MSCI TAIWAN (STRD) 0.99% 484.447 Real-time Quote.-37.26%
SONY GROUP CORPORATION -0.02% 9929 Delayed Quote.-32.55%
TAIWAN SEMICONDUCTOR CO., LTD. 3.36% 76.8 End-of-day quote.-2.29%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.35% 451 End-of-day quote.-26.67%
TOYOTA INDUSTRIES CORPORATION -0.67% 7440 Delayed Quote.-19.59%
TOYOTA MOTOR CORPORATION -0.28% 1994.5 Delayed Quote.-4.96%
UNITED MICROELECTRONICS CORPORATION 1.70% 38.95 End-of-day quote.-40.08%
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Analyst Recommendations on UNITED MICROELECTRONICS CORPORATION
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Financials
Sales 2022 274 B 8 667 M 8 667 M
Net income 2022 84 846 M 2 687 M 2 687 M
Net cash 2022 42 283 M 1 339 M 1 339 M
P/E ratio 2022 5,66x
Yield 2022 10,3%
Capitalization 486 B 15 400 M 15 400 M
EV / Sales 2022 1,62x
EV / Sales 2023 1,73x
Nbr of Employees 19 500
Free-Float 90,1%
Chart UNITED MICROELECTRONICS CORPORATION
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United Microelectronics Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends UNITED MICROELECTRONICS CORPORATION
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Last Close Price 38,95 TWD
Average target price 47,57 TWD
Spread / Average Target 22,1%
EPS Revisions
Managers and Directors
Shan Chieh Chien Co-President, Co-General Manager & Director
Jason Wang Co-President, Co-General Manager & Director
Chi Tung Liu Chief Financial Officer, Head-Finance & Accounting
Chia Tsung Hung Chief Financial Officer & Senior Vice President
Wen Yi Chu Independent Director
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