Page 188 - TSMC 2019 Annual Report

Reversal of write-down of inventories resulting from the increase in net realizable value and write-down of inventories to net realizable value were included in the cost of revenue, as illustrated below:
Years Ended December 31 2019 2018
Inventory losses (reversal of write-down of inventories) $ (1,983,048) $ 1,259,472
The aforementioned inventory losses (reversal of write-down of inventories) exclude wafer contamination losses and computer virus outbreak losses. Please refer to related losses in Note 37.
13. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD
Associates consisted of the following:
Name of Associate
Vanguard International Semiconductor Corporation (VIS)
Systems on Silicon Manufacturing Company Pte Ltd. (SSMC)
Xintec Inc. (Xintec)
Global Unichip Corporation (GUC)
Mutua l- Pak
Principal Activities
Manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing and design service of ma s k s
Manufacturing and selling of integrated circuits and other semiconductor devices
Wafer level chip size packaging and wafer level post passivation interconnection service
Researching, developing, manufacturing, testing and marketing of integrated circuits
Manufacturing of electronic parts, wholesaling and retailing of electronic materials, and researching, developing and testing of RFID
December 31, Operation 2019
December 31, 2019
28%
39% 41% 35% 28%
December 31, 2018
28%
39% 41% 35% 39%
Place of Incorporation and
Carrying Amount
December 31, 2018
% of Ownership and Voting Rights Held by the Company
Hsinchu, Taiwan $ 9,027,572
Singapore 6,502,174 Tao yua n, Ta iwa n 1,846,145 Hsinchu, Taiwan 1,284,377 New Taipei, Taiwan 38,520
$ 18,698,788
$
9,006,126
5,772,815 1,764,607 1,299,423
22,867
$ 17,865,838
As of December 31, 2019 and 2018, no investments in associates are individually material to the Company. Please refer to the consolidated statements of comprehensive income for recognition of share of both profit (loss) and other comprehensive income (loss) of associates that are not individually material.
The market prices of the investments accounted for using the equity method in publicly traded stocks calculated by the closing price at the end of the reporting period are summarized as follows. The closing price represents the quoted price in active markets, the level 1 fair value measurement.
Name of Associate
VIS GUC Xintec
December 31, 2019
$ 36,812,923 $ 11,251,774 $ 8,958,195
December 31, 2018
$ 27,621,298 $ 9,617,699 $ 3,783,585
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