ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Consumer Non-Durables

Feng Tay Enterprises Co., Ltd.

Company Background

Feng Tay Enterprises is the second-largest shoemaker in Taiwan and produces mainly athletic shoes. Nike is its biggest customer, with nearly a sixth of the sports shoes sold globally by the U.S. company made by Feng Tay.


In a first among Taiwanese shoemakers, the company introduced a U.S.-style conveyor belt-based production system, drastically improving its productivity.


Feng Tay began making shoes for Nike in the second half of the 1970s. It launched overseas production in 1988, in line with Nike's global business strategy. The company set up a series of plants in China and other countries.


In 1992, Feng Tay and Nike jointly created a research and development center in Taiwan, the first facility of its kind in Asia for the U.S. shoe giant.


Feng Tay has been diversifying in recent years, branching out into nonathletic footwear -- including roller blades -- in 2001 and golf balls, soccer balls and ice hockey gear in 2006.


Feng Tay said in September 2015 it will spend 4.6 billion rupees ($76.3 million) over the next three to five years to expand its Indian plant producing Nike and other shoes.

Business Summary

Feng Tay Enterprise Co., Ltd. engages in the manufacture and sale of sports shoes. Its products include casual shoes; inline skates; skates; ski boots; bicycles shoes; golf, soccer, and ice hockey helmets and clubs; baseball bat; shoe parts; and footwear molds and tools. The company was founded by Chiu Hsiung Wang on July 29, 1971 and is headquartered in Douliu, Taiwan.

Financial Highlights

Dec 2021 TWDUSD
Gross Profit15,244.31M545.76M
Operating income6,377.46M228.32M
Income before tax6,908.90M247.34M
Net income4,541.84M162.60M
Diluted EPS5.150.18
Dividends Per Share4.100.14
Total Assets46,925.18M1,696.07M
Total liabilities27,056.62M977.93M
Total equity18,110.07M654.57M
Operating cash flow1,804.58M64.60M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 58,633.38M 64,497.64M 73,930.08M 68,959.73M 70,349.86M
Gross Profit 12,997.22M 15,257.74M 17,465.24M 15,810.88M 15,244.31M
Operating income 5,819.31M 7,352.30M 8,404.23M 7,071.29M 6,377.46M
Income before tax 6,365.51M 8,563.73M 9,709.23M 7,613.41M 6,908.90M
Net income 4,395.12M 5,262.73M 6,230.77M 4,878.86M 4,541.84M
EBITDA 7,512.28M 9,178.39M 10,501.08M 9,468.10M 8,918.67M
Diluted EPS 4.98 5.96 7.06 5.53 5.15
Dividends Per Share 3.78 5.07 3.33 3.70 4.10
Total Assets 31,037.44M 34,191.00M 41,265.90M 43,788.20M 46,925.18M
Total liabilities 15,605.64M 16,195.62M 22,532.76M 24,433.11M 27,056.62M
Total equity 13,675.14M 15,999.03M 16,613.09M 17,340.06M 18,110.07M
Operating cash flow 5,203.60M 8,528.20M 9,390.63M 8,589.37M 1,804.58M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,927.29M 2,138.90M 2,391.57M 2,342.02M 2,518.62M
Gross Profit 427.22M 505.98M 564.98M 536.97M 545.76M
Operating income 191.28M 243.82M 271.86M 240.15M 228.32M
Income before tax 209.23M 283.99M 314.08M 258.56M 247.34M
Net income 144.46M 174.52M 201.56M 165.69M 162.60M
EBITDA 246.93M 304.37M 339.70M 321.55M 319.30M
Diluted EPS 0.16 0.19 0.22 0.18 0.18
Dividends Per Share 0.12 0.16 0.10 0.12 0.14
Total Assets 1,042.97M 1,112.37M 1,376.58M 1,558.41M 1,696.07M
Total liabilities 524.40M 526.90M 751.66M 869.56M 977.93M
Total equity 459.53M 520.51M 554.19M 617.12M 654.57M
Operating cash flow 171.04M 282.81M 303.77M 291.71M 64.60M

Valuation Measures

Dec 2021
Operating margin9.06%
Profit margin6.45%

Key executives

  • General Manager & Director: Chao Chi Chen
  • Spokesman, Head-Finance & Accounting: Li Chin Chen
  • Deputy General Manager: Po Ya Yu
  • Deputy General Manager: Shih Chung Yeh
  • Deputy General Manager: Ying Chin Chu


  • WANG LIU MEI HUI (10.8%)
  • CHEN HUI LING (6.4%)
  • CHEN CHEN ZU (4.2%)
  • CHEN SHIH JUNG (3.9%)
  • WANG CHIEN JUNG (3.3%)
  • WANG LI CHUAN (3.2%)
  • CHEN WEI CHIAO (3.0%)
  • WANG CHIEN HUNG (2.8%)

Contact Details

  • Website:
  • Address: No. 52, Kegong 8th Road, Yunlin County, Douliu, 640 64, Taiwan
  • Phone: +886.5.5379100

Related Companies

  • Great Eastern Industries Ltd.
  • PT Rich Valley Indonesia
  • East Wind Footwear Co. Ltd. (India)
  • Rich River Co. Ltd.
  • Shoe Majesty Trading Co. Ltd.
  • Vietnam Shoe Majesty Co. Ltd.
  • Shoe Majesty Co. Ltd.
  • Bayorient Co. Ltd.
  • Sense 1991 International Co. Ltd.
  • Growth Link Overseas Co., Ltd.
  • Vung Tau Orient Holdings Ltd.
  • VX Holdings Ltd.
  • Top-Tan International Ltd.
  • Growth Link Oveaseas Co. Ltd.
  • PT Feng Tay Indonesia Enterprises
  • Lien Feng International Investment Co. Ltd.


    Last Updated on 4 Oct, 2022

    Discover the all new Nikkei Asia app

    • Take your reading anywhere with offline reading functions
    • Never miss a story with breaking news alerts
    • Customize your reading experience

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more