Kioxia Forecasts 8.2 Billion Dollar Quarterly Profit
Japanese chipmaker Kioxia expects quarterly profit to reach 1.3 trillion yen amid high AI demand. The company also plans to list shares on a U.S. exchange.
KIOXIA HOLDINGS CORP expects April-June operating profit to reach 1.3 trillion yen ($8.20 billion) as AI demand surges. The forecast follows a 92.7% rise in annual operating profit to 870.4 billion yen for the year ended March. A planned United States listing aims to capture global capital while the firm's valuation outpaces domestic peers.
Japan-based Kioxia is preparing to list American depositary shares to expand its investor base. The chipmaker's share price has more than quadrupled since January. This growth gives the NAND flash memory specialist a larger market capitalization than SONY GROUP CORP and FAST RETAILING CO LTD.
