KIOXIA Holdings, the world's leading semiconductor and flash memory manufacturer, posted a net loss of 254 billion yen in its financial results for the nine months from April to December last year due to deteriorating global market conditions. This is the largest deficit for this period since the company's inception.
KIOXIA Holdings announced its financial results for the nine months from April to December last year, with a final loss of 254 billion yen.
This is the largest loss for this period since 2017, when Toshiba Memory, the predecessor of the current company, was launched.
This was due to a deterioration in the global market for flash memory due to a reduction in corporate IT investment and a drop in demand for PCs and smartphones.
Although the company says that market conditions are improving, the company is forced to review its production plans due to deteriorating business results, such as last year's postponement of the planned start-up of a new factory in Kitakami City, Iwate Prefecture until next year. It is being
On the other hand, KIOXIA is receiving support from the government from the perspective of economic security, such as the Ministry of Economy, Trade and Industry's decision to provide up to approximately 240 billion yen for capital investment plans including a factory in Yokkaichi City, Mie Prefecture. This means that we will be required to quickly rebuild our business performance.