Kioxia Reports Record Profit and Plans US Listing

Kioxia Holdings reported a significant increase in operating profit for the July-September quarter, reaching 1.99 trillion yen compared to 85.9 billion yen in the previous year. The company attributed these gains to higher average selling prices and increased bit shipments driven by demand for generative AI data centers.

In a first for the company, Kioxia declared a dividend of 90 yen per share for the fiscal year ending March 2027, with payments scheduled to begin December 8. For the October-December quarter, the company forecasts revenue of 2.5 trillion yen and operating profit of 2 trillion yen, though it noted that strong demand may be offset by negative exchange rate effects.

To fund over 5 trillion yen in capital spending in Japan over the next six years, Kioxia plans to list American depositary receipts on a U.S. exchange next year. This investment in production will be conducted alongside its partner Sandisk.