The 16 Largest Taiwan HQ'd Companies, Led By Taiwan Semiconductor Manufacturing, 2014 Total Audited Earnings on Absolute Fire ..... Up 23% Over 2013, Up 70% Over 2012, Up 185% Over 2008 and Up 73% Over 2007

From a review of the superb Google Finance Website and the US SEC Website, I found 4 Companies headquartered in Taiwan which filed their financial statements with the US SEC and with Stock Market Capitalizations of more than New Taiwan Dollar (NT$) 100 bil.  Included in these 4 was the giant Taiwan Semiconductor Manufacturing whose NT$ 3.23 trillion stock market capitalization dwarfs that of all other Taiwan Companies.

Also from a review of the Google Finance Website and financial statements in company investor relations websites, I found another 12 Companies headquartered in Taiwan with Stock Market Capitalizations of more than NT$ 300 bil.

The NT$ is worth a little bit above 3 cents US.

How have these 16 largest Taiwan Companies recovered from the 2008-9 worldwide financial meltdown?  Well, the second best of all country companies that I have researched so far.  Only Israeli Companies have a higher total profits increase since 2007.  These 16 Taiwan Companies had Total Predominately Audited Earnings From Continuing Operations which were 73% above that in 2007.

For the most recent 3 years the Earnings are under the prestigious IFRS.  For the earlier years, they are mostly prepared under Taiwanese GAAP, although by far the largest Taiwan Semiconductor Manufacturing is under the most prestigious of all US GAAP in earlier years.

Below here are the reported Predominately Audited Earnings (Losses) for each of  these 16 Taiwan Companies for all years reported from 2007 through 2014:

	2014	2013	2012	2011	2010	2009	2008	2007
	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited
	Net	Net	Net	Net	Net	Net	Net	Net
Taiwan Largest Companies	Profit	Profit	Profit	Profit	Profit	Profit	Profit	Profit
	NT$ mils	NT$ mils	NT$ mils	NT$ mils	NT$ mils	NT$ mils	NT$ mils	NT$ mils
Filing With US SEC
Taiwan Semiconductor Manufacturing	254,184	183,850	159,286	137,103	164,320	89,293	81,822	71,961
Chunghwa Telecom Co Ltd	37,567	42,618	42,617	48,095	48,558	44,495	45,792	48,742
Advanced Semiconductor Engineering Inc	22,869	15,870	13,648	13,979	19,195	6,904	7,208	13,995
United Microelectronics Corp	10,447	12,084	4,149	6,605	23,544	364	(29,632)	(9,398)
Not Filing With US SEC
Hon Hai Precision Industry Co Ltd	132,482	107,346	91,667	81,935	75,473	75,685	55,133	84,688
Fubon Financial Holding Co Ltd	60,483	38,464	29,149	30,543	19,905	19,938	10,875	14,432
Cathay Financial Holding Co Ltd	49,785	38,020	17,058	11,285	4,308	10,832	1,973	30,763
MediaTek Inc	46,399	27,485	15,545	13,616	30,937	36,695	19,174	33,390
CTBC Financial Holding Co Ltd	39,444	21,510	21,298	18,297	14,142	2,439	14,778	13,339
Nan Ya Plastics Corp	32,817	25,064	3,639	24,201	41,718	16,923	NA	NA
China Steel Corporation	22,160	15,992	5,895	19,494	37,587	19,603	24,030	51,264
Delta Electronics Inc	20,699	17,776	14,783	10,991	15,754	11,657	10,251	15,061
Uni-President Enterprises Corp	17,713	20,740	15,569	14,735	16,924	12,162	3,601	11,017
Taiwan Mobile Co Ltd	15,631	16,067	16,550	13,626	13,818	13,889	15,371	6,613
Formosa Chemicals & Fibre Corp	14,021	26,679	8,503	NA	NA	NA	NA	NA
Formosa Petrochemical Corp	9,070	26,859	2,721	22,509	40,929	43,931	15,196	69,617
Grand Total all 16	785,771	636,424	462,077	467,014	567,112	404,810	275,572	455,484
Earnings % Increase:
….. 2014 Over 2013	23%
….. 2014 Over 2012	70%
….. 2014 Over 2008	185%
….. 2014 Over 2007	73%

The next three countries company audited earnings I want to research are all in the Far East ..... South Korea, Hong Kong and China.  The latter should be particularly interesting since a lot of it in Chinese.  But I have a hunch that I will be able to draw a large enough sample to reach a reasonable conclusion about how well these companies in the aggregate have recovered from the 2008-9 horrific worldwide financial meltdown, and particularly to what extent have their recent Total Earnings Growth Decelerated?

The 14 Largest Brazilian HQ'd Companies 2014 Total Audited Earnings, Using Dec 31, 2014 Exchange Rates, Down 34% From 2013 and Down 36% From 2007

From a review of the superb Google Finance Website and financial statements in both the SEC and company investor relations websites, I found 14 Companies headquartered in Brazil with Stock Market Capitalizations of more than Brazil Reals (BRs) 30 bil.

Twelve of these 14 Companies reported their financial statements in BRs.  The other 2 reported in US$s.

I excluded one Brazilian Company that had an IPO in late 2012.

After converting the total earnings of these 12 Brazilian Companies reporting in BRs into US$s at the relative BR and US$ Dec 31, 2014 exchange rates, the Total Audited Earnings of these 14 Brazilian Companies in 2014 were US$26.733 bil, which was down 34% from 2013 and also down 36% from 2007.

It should be pointed out that the Brazilian Real has been a very weak currency against the US$.  The BR was about US$0.56 on Dec 31, 2007, US$0.42 on Dec 31, 2013, US$0.38 on Dec 31, 2014 and US$0.28 on Aug 30, 2015.

Below here are the reported Audited Earnings (Losses) for each of  these 14 largest Brazilian Companies with Market Caps above BR30 bil for all years reported from 2007 through 2014:

		2014	2013	2012	2011	2010	2009	2008	2007
	Most	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited
	Recent	Net	Net	Net	Net	Net	Net	Net	Net
	2014	Income	Income	Income	Income	Income	Income	Income	Income
Largest Brazilian Companies	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
		mil BRs	mil BRs	mil BRs	mil BRs	mil BRs	mil BRs	mil BRs	mil BRs
Reporting in mil Brazil Reals (BRs)
Itau Unibanco Holding SA	Dec	21,861	16,522	13,191	14,610	12,494	14,612	4,878	7,660
Banco Bradesco SA	Dec	15,416	12,486	11,352	11,089	10,052	8,301	7,149	7,945
Ambev SA	Dec	12,362	11,399	10,459	8,479	7,460	5,988	5,191	5,069
Banco do Brasil SA	Dec	11,246	15,758	12,205	12,126	11,703	10,148	8,803	5,058
Itausa-Investimentos Itau SA	Dec	8,161	6,011	4,836	5,367	5,013	11,742	5,431	8,916
Banco Santander (Brasil) SA	Dec	5,708	3,785	5,438	7,673	7,323	5,508	2,379	1,903
Telefonica Brasil SA	Dec	4,937	3,716	4,452	4,362	2,398	2,204	2,500	2,370
Cielo SA	Dec	3,220	2,674	2,326	1,817	1,831	1,534	1,342	884
BRF SA	Dec	2,135	1,020	805	1,384	816	119	(89)	303
JBS SA	Dec	2,036	927	763	(323)	(303)	221	26	(165)
Souza Cruz SA	Dec	1,714	1,694	1,641	1,603	1,450	1,485	1,250	1,034
Ultrapar Participacoes SA	Dec	1,251	1,229	1,027	860	761	441	420	335
Total all 12 Reporting in mil BRs		90,047	77,221	68,495	69,047	60,998	62,303	39,280	41,312
Dec 31, 2014 Exchange Rate		0.376276	0.376276						0.376276
Total all 12 Converted to mil US$s		33,883	29,056						15,545
Reporting in mil US$s		mil US$s	mil US$s	mil US$s	mil US$s	mil US$s	mil US$s	mil US$s	mil US$s
Petroleo Brasileiro Petrobras SA	Dec	(7,503)	10,832	10,931	19,992	20,449	16,823	17,733	13,411
Vale SA	Dec	353	408	5,265	22,648	17,580	5,456	13,476	12,627
Total of both Reporting in US$s		(7,150)	11,240	16,196	42,640	38,029	22,279	31,209	26,038
Grand Total all 14 Converted to US$s		26,733	40,296						41,583
….. Earnings % Decline 2014 vs 2013		-34%
….. Earnings % Decline 2014 vs 2007									-36%