Should Taiwan IC Design Firms Build Own Fabs?-A Case Study On Costs and Benefits

本研究個案公司所屬行業為IC設計，一般而言，IC設計公司致力於研發和設計，而將生產部份交由專業代工廠，個案公司卻在其經營狀況處於高峰之際，令人意外地宣佈準備自建晶圓廠，個案公司是在什麼動機考量下作出這決策？又在如此重大策略之後，真的可以解決個案公司的問題嗎？ 本研究係以個案公司為主要研究對象，敘述個案公司所屬的產業環境及其因應產業變遷、力求公司成長過程中在經營策略上的重大改變，闡述個案公司重大的轉變策略的背景因素，並試圖以財務分析的方法事先洞查該公司將來可能面臨的經營問題，再透過SWOT分析、五力分析來看個案公司經營策略轉變的優劣之處及其可能所帶出的經營結果。 透過本個案分析可以證明跨入非本業專精的經營或嘗試自行取代過去一直依賴的專業外包產能是冒了很大的風險，若無完整的配套策略及財務後盾，反而讓原本體質良好的企業陷入經營困境；最後本研究發現適當的製程外包除可減輕負債、設備折舊壓力，對企業本身的ROA、ROE也可維持較佳的表現；另外企業經營的優劣勝敗取決於是否聚焦在”賺最專業的本業”。 關鍵詞：IC設計、IDM、SWOT、五力分析This study analyzes an IC design firm’s decision on whether to build and own a fabrication plant (“fab”). In general, IC design firms outsource the production of chips to independent semiconductor foundries. The case company, however, decided to build its own fab during its peak years of operation. What motivated this business decision? Did the rare industry practice meet the firm’s needs? This case study describes the company’s complex industry environments, its business strategies as the firm was coping with industry trends and managing phenomenal growth, and essential background factors that had led to the “own-a-fab” decision. This study also conducts financial analysis in anticipation with the company’s operational challenges. It uses SWOT and Porter’s five forces analysis so as to delineate the benefits and costs of this major shift in business strategy as well as the business results. The study provides evidence that major risks are taken as firms try to divest into an unfamiliar business area (which in this case was outsourced to professional foundries). Without a well-conceived strategy with corresponding measures and sufficient financial backing, a fine company may run into business troubles. Moreover, this study finds that proper outsourcing of manufacturing processes reduces debt and equipments depreciation pressures while contributing to better ROA and ROE performances. The study concludes that successful businesses should try gain focus on it best, most-skillful expertise areas. Key Words：IC design,IDM,SWOT,Five Forces Model