Taiwan Semiconductor Manufacturing Co (TSMC) reported that all its workers were safe following a major earthquake that hit Taiwan on Wednesday. The company had evacuated some personnel from certain factory lines but they have since returned to work. The earthquake, which registered a magnitude of 7.4 in Hualien County, caused buildings to collapse and triggered tsunami advisories in Japan and the Philippines, leading to at least four reported deaths. TSMC stated that construction sites appeared normal upon initial inspection but work was suspended for the day as a precaution.
TSMC, the largest company on the Taiwan Weighted Index with a market cap of $639.65 billion, saw its shares fall by 1% following the earthquake. The broader index was also down by 0.9%. The Taiwan Stock Exchange Corporation confirmed that its computers and network systems were operating normally after the earthquake. Tremors from the quake were felt in Taipei, the capital of Taiwan, marking the island’s largest earthquake since 1999. The Japan Meteorological Agency issued tsunami advisories for certain southern islands and regions, but later revoked them. The Philippine Institute of Volcanology and Seismology also issued a tsunami warning following the earthquake.
In response to the earthquake, flights were disrupted in Japan, with some Japan Airlines flights being canceled. Shares of Japan Airlines saw a 0.7% increase. Another Japanese carrier, ANA Holdings, temporarily suspended flights from certain airports in Okinawa but later resumed operations, although some flights were delayed or canceled. The earthquake in Taiwan had far-reaching impacts beyond the island, with neighboring countries like Japan and the Philippines experiencing disruptions and safety precautions being taken in response to the seismic activity.
TSMC confirmed that its employees were safe and had begun returning to work following the earthquake. The company reported that construction sites appeared normal during an initial inspection, although work was temporarily halted as a precaution. The earthquake had significant consequences, with buildings collapsing and tsunami advisories being issued in Japan and the Philippines. Despite the disruption caused by the earthquake, TSMC and other companies in Taiwan were taking steps to ensure the safety of their workers and assess the impact on their operations.
The earthquake, which had a magnitude of 7.4, was felt in Taipei and was the largest to hit Taiwan since 1999. The Japan Meteorological Agency issued and later revoked tsunami advisories for certain regions, while the Philippines also raised a tsunami warning. Flights in Japan were affected, with cancellations and delays reported by airlines such as Japan Airlines and ANA Holdings. The seismic activity in Taiwan had ripple effects across the region, highlighting the interconnectedness of countries in the face of natural disasters.
In light of the earthquake, TSMC and other companies in Taiwan prioritized the safety of their employees, evacuating personnel from certain factory lines and suspending work temporarily. The broader impact of the earthquake was felt in neighboring countries like Japan, where flights were disrupted and safety advisories were issued. Despite the challenges posed by the earthquake, companies like TSMC and the Taiwan Stock Exchange Corporation took proactive measures to ensure the well-being of their workers and assess the impact on their operations. The seismic activity in Taiwan served as a reminder of the vulnerability of regions to natural disasters and the importance of preparedness and response measures in ensuring the safety and security of communities.
