Asia Supply Chain 100: IC 50

Findings

IC 50 demonstrates rise of Asia's semiconductor industry

Asia dominates the semiconductor manufacturing sector with leading companies, Samsung, TSMC and SK Hynix. Based on the IC 50 ranking, conducted by DIGITIMES Asia in 2022, we have summed up the following key findings:

Finding 1: East Asia is the hub of semiconductor manufacturing
Top semiconductor companies in East Asia mainly include foundries, assembly and testing, memories, wafers, and IC substrates

Finding 2: China, Japan, and Korea surpass Taiwan in revenue growth
Taiwan's semiconductor industry made a record high in 2020. Since the very high base period, Taiwan had moderate growth in 2021

Finding 3: China's semiconductor companies getting robust
Three China-based semiconductor companies, SMIC, JCET Group and Will Semiconductor, have reigned in the top 11-20

Companies in IC 50 ranking mostly come from Taiwan

The contribution of the top 3 companies to the total revenue of IC 50 companies

The Singaporean semiconductor equipment company, Kulicke & Soffa Industries has the highest growth

The only company in IC 50 that has over 40% profit margin

Insights

Asia IC50: Beginning of downturn or start of golden era?

Asia IC50: China firms supercharged in revenue growth, thanks to chip crunch and government policy drive

Asia IC50: Renesas celebrates strong performance with resilience and expects good days to last

Asia IC50 interview with president Peo-Ing Lee: Nanya moves forward with in-house developed technology

Asia IC50: TEL CEO Kawai achieves mid-term goals before schedule and remains optimistic over future growth

Asia IC50: How do Taiwan OSAT companies retain market leadership?

Ranks

Revenue

2021 Rank	2020 Rank	Company/Business Unit	Country	Industry	2021 Revenue ($M)	2020 Revenue ($M)	Revenue Growth
1	1	Samsung Electronics/Device Solutions, excluding DP	South Korea	IDM	79,203	61,285	29.2%
2	2	TSMC	Taiwan	Foundry	57,361	48,394	18.5%
3	3	SK Hynix	South Korea	IDM	36,168	26,833	34.8%
4	4	MediaTek	Taiwan	Fabless	17,830	11,641	53.2%
5	5	Tokyo Electron/Semiconductor Production Equipment	Japan	Semiconductor Equipment	15,727	10,501	49.8%
6	7	Kioxia	Japan	IDM	12,404	10,109	22.7%
7	6	ASE Technology Holding/Packaging, Testing	Taiwan	Packaging & Test	12,098	10,129	19.5%
8	8	Sony/Imaging and Sensing Solutions	Japan	IDM	9,155	8,790	4.2%
9	10	Renesas	Japan	IDM	8,641	6,219	38.9%
10	9	UMC	Taiwan	Foundry	7,697	6,389	20.5%
11	12	SMIC	China	Foundry	5,443	3,906	39.4%
12	13	Rohm/ICs, Discrete Semiconductor Devices	Japan	IDM	4,940	3,619	36.5%
13	14	Novatek Microelectronics	Taiwan	Fabless	4,891	2,889	69.3%
14	11	JCET Group	China	Packaging & Test	4,799	4,164	15.3%
15	15	Realtek Semiconductor	Taiwan	Fabless	3,812	2,810	35.7%
16	22	Winbond Electronics	Taiwan	IDM	3,598	2,193	64.1%
17	17	Will Semiconductor/Semiconductor Design and Sales	China	Fabless	3,206	2,717	18.0%
18	21	Nanya Technology	Taiwan	IDM	3,093	2,204	40.3%
19	16	Powertech Technology	Taiwan	Packaging & Test	3,028	2,753	10.0%
20	18	Sumco Corporation	Japan	Wafers	2,917	2,532	15.2%
21	19	Kyocera/Semiconductor Component	Japan	IC Substrate	2,749	2,390	15.0%
22	23	SCREEN Holdings/Semiconductor Production Equipment Business	Japan	Semiconductor Equipment	2,604	2,033	28.1%
23	26	TongFu Microelectronics	China	Packaging & Test	2,488	1,694	46.8%
24	27	Powerchip Semiconductor Manufacturing	Taiwan	Foundry	2,371	1,651	43.6%
25	28	Advantest/Semiconductor & Component Test Systems	Japan	Semiconductor Equipment	2,364	1,620	45.9%
26	24	Globalwafers	Taiwan	Wafers	2,209	2,000	10.4%
27	20	Wintech Technology/Semiconductor Business	China	IDM	2,172	2,339	-7.2%
28	29	Unimicron Technology Corp/Carrier	Taiwan	IC Substrate	2,078	1,493	39.2%
29	31	Disco Corp	Japan	Semiconductor Equipment	2,047	1,446	41.5%
30	25	Mitsubishi Electric/Electronic Device	Japan	IDM	2,046	1,766	15.8%
31	34	Ibiden Co Ltd	Japan	IC Substrate	1,965	1,335	47.2%
32	36	Tianshui Huatian Technology/IC Packaging & Test	China	Packaging & Test	1,874	1,295	44.7%
33	32	Macronix International	Taiwan	IDM	1,827	1,438	27.1%
34	42	ASM Pacific Technology/Semiconductor Solutions	Singapore	Semiconductor Equipment	1,733	1,022	69.6%
35	44	Hua Hong Semiconductor	China	Foundry	1,626	968	68.0%
36	43	LX Semicon	South Korea	Fabless	1,597	977	63.4%
37	38	Vanguard International Semiconductor	Taiwan	Foundry	1,588	1,197	32.7%
38	33	SK Siltron	South Korea	Wafers	1,556	1,431	8.8%
39	48	Himax Technologies	Taiwan	Fabless	1,547	887	74.4%
40	35	Sanken Electric	Japan	IDM	1,529	1,314	16.4%
41	45	NAURA Technology	China	Semiconductor Equipment	1,523	953	59.9%
42		Kulicke & Soffa Industries	Singapore	Semiconductor Equipment	1,518	623	143.7%
43	37	Fuji Electric/Semiconductor	Japan	IDM	1,479	1,251	18.3%
44	39	China Resources Microelectronics	China	IDM	1,455	1,098	32.6%
45	30	Samsung Electro-Mechanics Co Ltd/Substrate	South Korea	IC Substrate	1,411	1,482	-4.8%
46		Gigadevice Semiconductor Beijing	China	Fabless	1,339	707	89.3%
47	41	King Yuan Electronics	Taiwan	Packaging & Test	1,220	1,046	16.6%
48	47	WONIK IPS	South Korea	Semiconductor Equipment	1,037	918	13.0%
49		DB HiTek	South Korea	IDM	1,022	787	29.8%
50		Kinsus Interconnect Technology Corp/IC substrate	Taiwan	IC Substrate	1,002	766	30.8%
2021 Rank	2020 Rank	Company/Business Unit	Country	Industry	2021 Revenue ($M)	2020 Revenue ($M)	Revenue Growth

Operating Profit

2021 Rank	2020 Rank	Company/Business Unit	Country	Industry	2021 Operating Profit ($M)	2020 Operating Profit ($M)	Operating Profit Change ($M)
1	2	Samsung Electronics/Device Solutions, excluding DP	South Korea	IDM	24,561	15,818	8,743
2	1	TSMC	Taiwan	Foundry	23,482	20,479	3,002
3	3	SK Hynix	South Korea	IDM	10,439	4,216	6,223
4	4	Tokyo Electron/Semiconductor Production Equipment	Japan	Semiconductor Equipment	5,228	2,779	2,449
5	5	MediaTek	Taiwan	Fabless	3,904	1,562	2,342
6	7	ASE Technology Holding/Packaging, Testing	Taiwan	Packaging & Test	1,931	1,013	918
7	10	UMC	Taiwan	Foundry	1,868	795	1,072
8	13	Novatek Microelectronics	Taiwan	Fabless	1,726	534	1,192
9	11	Renesas	Japan	IDM	1,595	566	1,030
10	17	Kioxia	Japan	IDM	1,435	338	1,097
10	6	Sony/Imaging and Sensing Solutions	Japan	IDM	1,435	1,416	19
12	20	SMIC	China	Foundry	1,393	312	1,081
13	9	Will Semiconductor/Semiconductor Design and Sales	China	Fabless	1,215	863	353
14	22	Nanya Technology	Taiwan	IDM	982	305	678
15	14	Advantest/Semiconductor & Component Test Systems	Japan	Semiconductor Equipment	825	471	354
16	8	Wintech Technology/Semiconductor Business	China	IDM	807	920	-113
17	32	Powerchip Semiconductor Manufacturing	Taiwan	Foundry	726	208	518
18	15	Disco Corp	Japan	Semiconductor Equipment	692	412	280
19	44	Winbond Electronics	Taiwan	IDM	666	59	607
20	12	Globalwafers	Taiwan	Wafers	639	552	87
21	19	Realtek Semiconductor	Taiwan	Fabless	626	312	314
22	45	Himax Technologies	Taiwan	Fabless	545	58	487
23	21	Rohm/ICs, Discrete Semiconductor Devices	Japan	IDM	533	307	226
24	16	Powertech Technology	Taiwan	Packaging & Test	525	387	138
25	25	Vanguard International Semiconductor	Taiwan	Foundry	510	268	242
26	28	JCET Group	China	Packaging & Test	499	228	271
27	23	Tianshui Huatian Technology/IC Packaging & Test	China	Packaging & Test	470	289	181
28	33	SCREEN Holdings/Semiconductor Production Equipment Business	Japan	Semiconductor Equipment	454	179	275
29	18	Sumco Corporation	Japan	Wafers	448	329	119
30	27	Ibiden Co Ltd	Japan	IC Substrate	436	229	206
31		Kulicke & Soffa Industries	Singapore	Semiconductor Equipment	412	59	354
32	30	Macronix International	Taiwan	IDM	400	212	188
33	42	ASM Pacific Technology/Semiconductor Solutions	Singapore	Semiconductor Equipment	388	88	300
34	29	Kyocera/Semiconductor Component	Japan	IC Substrate	350	215	135
35		Gigadevice Semiconductor Beijing	China	Fabless	337	146	191
36		DB HiTek	South Korea	IDM	336	201	134
37	36	China Resources Microelectronics	China	IDM	330	145	185
38	47	Hua Hong Semiconductor	China	Foundry	312	7	305
39	43	LX Semicon	South Korea	Fabless	311	79	232
40	35	King Yuan Electronics	Taiwan	Packaging & Test	239	168	71
41	31	SK Siltron	South Korea	Wafers	237	210	27
42	39	Fuji Electric/Semiconductor	Japan	IDM	221	106	114
43	40	NAURA Technology	China	Semiconductor Equipment	187	98	89
44	46	TongFu Microelectronics	China	Packaging & Test	149	57	92
45	38	WONIK IPS	South Korea	Semiconductor Equipment	138	118	20
46	50	Sanken Electric	Japan	IDM	107	-13	120
47	41	Mitsubishi Electric/Electronic Device	Japan	IDM	94	93	0
		Unimicron Technology Corp/Carrier	Taiwan	IC Substrate	-	-	-
		Kinsus Interconnect Technology Corp/IC substrate	Taiwan	IC Substrate	-	-	-
		Samsung Electro-Mechanics Co Ltd/Substrate	South Korea	IC Substrate	-	-	-
2021 Rank	2020 Rank	Company/Business Unit	Country	Industry	2021 Operating Profit ($M)	2020 Operating Profit ($M)	Operating Profit Change ($M)

*The hyphen mark indicates the companies not reporting operating profit of its semiconductor segment

Operating Margin

2021 Rank	Company/Business Unit	Country	Industry	2021 Operating Margin	2020 Operating Margin	Percentage Point Change
1	TSMC	Taiwan	Foundry	40.9%	42.3%	-1.4
2	Will Semiconductor (Semiconductor Design and Sales)	China	Fabless	37.9%	31.8%	6.2
3	Wintech Technology (Semiconductor Business)	China	IDM	37.2%	39.3%	-2.2
4	Novatek Microelectronics	Taiwan	Fabless	35.3%	18.5%	16.8
5	Himax Technologies	Taiwan	Fabless	35.2%	6.5%	28.7
6	Advantest (Semiconductor & Component Test Systems)	Japan	Semiconductor Equipment	34.9%	29.1%	5.9
7	Disco Corp	Japan	Semiconductor Equipment	33.8%	28.5%	5.3
8	Tokyo Electron (Semiconductor Production Equipment)	Japan	Semiconductor Equipment	33.2%	26.5%	6.8
9	DB HiTek	South Korea	IDM	32.9%	25.6%	7.3
10	Vanguard International Semiconductor	Taiwan	Foundry	32.1%	22.4%	9.7
11	Nanya Technology	Taiwan	IDM	31.8%	13.8%	17.9
12	Samsung Electronics (Device Solutions, excluding DP)	South Korea	IDM	31.0%	25.8%	5.2
13	Powerchip Semiconductor Manufacturing	Taiwan	Foundry	30.6%	12.6%	18.1
14	Globalwafers	Taiwan	Wafers	28.9%	27.6%	1.3
15	SK Hynix	South Korea	IDM	28.9%	15.7%	13.2
16	Kulicke & Soffa Industries	Singapore	Semiconductor Equipment	27.2%	9.4%	17.8
17	SMIC	China	Foundry	25.6%	8.0%	17.6
18	Gigadevice Semiconductor Beijing	China	Fabless	25.2%	20.7%	4.5
19	Tianshui Huatian Technology (IC Packaging & Test)	China	Packaging & Test	25.1%	22.3%	2.8
20	UMC	Taiwan	Foundry	24.3%	12.5%	11.8
21	China Resources Microelectronics	China	IDM	22.7%	13.2%	9.5
22	ASM Pacific Technology (Semiconductor Solutions)	Singapore	Semiconductor Equipment	22.4%	8.6%	13.8
23	Ibiden Co Ltd	Japan	IC Substrate	22.2%	17.2%	5.0
24	MediaTek	Taiwan	Fabless	21.9%	13.4%	8.5
25	Macronix International	Taiwan	IDM	21.9%	14.7%	7.1
26	King Yuan Electronics	Taiwan	Packaging & Test	19.6%	16.1%	3.5
27	LX Semicon	South Korea	Fabless	19.5%	8.1%	11.4
28	Hua Hong Semiconductor	China	Foundry	19.2%	0.7%	18.5
29	Winbond Electronics	Taiwan	IDM	18.5%	2.7%	15.8
30	Renesas	Japan	IDM	18.5%	9.1%	9.4
31	SCREEN Holdings (Semiconductor Production Equipment Business)	Japan	Semiconductor Equipment	17.4%	8.8%	8.6
32	Powertech Technology	Taiwan	Packaging & Test	17.3%	14.1%	3.3
33	Realtek Semiconductor	Taiwan	Fabless	16.4%	11.1%	5.3
34	ASE Technology Holding (Packaging, Testing)	Taiwan	Packaging & Test	16.0%	10.0%	6.0
35	Sony (Imaging and Sensing Solutions)	Japan	IDM	15.7%	16.1%	-0.4
36	Sumco Corporation	Japan	Wafers	15.4%	13.0%	2.4
37	SK Siltron	South Korea	Wafers	15.2%	14.7%	0.6
38	Fuji Electric (Semiconductor)	Japan	IDM	14.9%	8.5%	6.4
39	WONIK IPS	South Korea	Semiconductor Equipment	13.3%	12.9%	0.4
40	Kyocera (Semiconductor Component)	Japan	IC Substrate	12.7%	9.0%	3.7
41	NAURA Technology	China	Semiconductor Equipment	12.3%	10.3%	2.0
42	Kioxia	Japan	IDM	11.6%	3.3%	8.2
43	Rohm (ICs, Discrete Semiconductor Devices)	Japan	IDM	10.8%	8.5%	2.3
44	JCET Group	China	Packaging & Test	10.4%	5.5%	4.9
45	Sanken Electric	Japan	IDM	7.0%	-1.0%	8.0
46	TongFu Microelectronics	China	Packaging & Test	6.0%	3.4%	2.6
47	Mitsubishi Electric (Electronic Device)	Japan	IDM	4.6%	5.3%	-0.7
	Unimicron Technology Corp (Carrier)	Taiwan	IC Substrate	-	-	-
	Samsung Electro-Mechanics Co Ltd (Substrate)	South Korea	IC Substrate	-	-	-
	Kinsus Interconnect Technology Corp (IC substrate)	Taiwan	IC Substrate	-	-	-
2021 Rank	Company/Business Unit	Country	Industry	2021 Operating Margin	2020 Operating Margin	Percentage Point Change

*The hyphen mark indicates the companies not reporting operating profit of its semiconductor segment

Industry
Comparison

By Revenue

By Operating Profit

Cross Comparison

*The figure in parenthesis indicates the number of companies in the industry

By Operating Profit

By Revenue

Cross Comparison

*The figure in parenthesis indicates the number of companies in the industry

Cross Comparison

By Revenue

By Operating Profit

*The figure in parenthesis indicates the number of companies in the industry

Country
Comparison

By Revenue

By Operating Profit

Cross Comparison

*The figure in parenthesis indicates the number of companies in the country

By Operating Profit

By Revenue

Cross Comparison

*The figure in parenthesis indicates the number of companies in the country

Cross Comparison

By Revenue

By Operating Profit

Methodology

IC 50

Asia Supply Chain IC 50 (IC 50) is ranked among Asia-based, public or private, companies operating along the semiconductor supply chain, including equipment, materials, designing, and manufacturing, according to their 12-month financials.

Screening criteria

Surveyed companies in IC 50 are selected based on their host countries and operating segments. Companies are from China (including Hong Kong), Japan, Taiwan, South Korea, Singapore, India, Vietnam, Malaysia, Philippines, and Thailand. Selected companies are operating in the semiconductor supply chain, including IDM, Foundry, Semiconductor Equipment, Wafers, Packaging & Test, IC Substrate (include leadframe and other package related components), and Fabless.

Companies may be excluded from the list due to the following considerations. A company wholly owned by a parent with financial statements included in the consolidated statement of the parent company is excluded. Companies operating in the semiconductor industry without separately disclosing their semiconductor segment results are also excluded from the ranking.

Financials and ranking

Based on publicly available information published before May 1, 2022, DIGITIMES Asia collects the comparable 12-month consolidated financials for the latest four quarters, two semi-years, or one annual period of the surveyed companies, inclusive of their subsidiaries. For comparability, surveyed companies' financial statements are generally between January and December, even for most Japan-based companies whose fiscal years run from April 1 to March 31 of the following year. DIGITIMES Asia then ranks the top 50 companies according to their revenue (for companies that generate most of their revenue from the semiconductors) or operating income (for companies who create revenues not only from semiconductors and whose segment reporting includes semiconductors). Supplemented information such as operating margin, net income, and profit margin are also included.