Kioxia Plans US IPO After Tokyo Shares Surge 300%
Kioxia, a manufacturer of NAND flash memory based in Japan, is gearing up to go public on a U.S. stock exchange following a remarkable 300% increase in its shares listed in Tokyo. The firm has reported unprecedented quarterly earnings and anticipates an operating profit of ¥1.3 trillion for the ongoing quarter, fueled by the rising demand for memory chips linked to AI technology.
Key facts
- Kioxia is a Japanese NAND flash memory maker.
- The company is preparing to list on a U.S. stock exchange.
- Its Tokyo-listed shares have surged 300%.
- Kioxia posted record quarterly earnings.
- It forecasts operating profit of ¥1.3 trillion for the current quarter.
- AI demand for memory chips is a key driver.
Entities
Institutions
- Kioxia
Locations
- Japan
- United States
- Tokyo
Sources
- Quartz —