KIOXIA, the Japanese NAND flash memory giant spun off from Toshiba’s semiconductor division, is planning to offer American Depositary Shares on a US stock exchange as early as spring 2027. The offering could raise between 5 billion and 10 billion dollars, giving the company direct access to the deepest capital market in the world. The stock has surged approximately 800% in 2026, driven by relentless demand for storage in AI data centers. KIOXIA went public in December 2024 on the Tokyo Stock Exchange, raising around 120 billion yen. For the fiscal year ending March 2026, revenue reached approximately 2.3 trillion yen, a 37% year-over-year increase, with profits of 554.5 billion yen. This strategy mirrors moves by rival SK Hynix, as major memory chip players including Samsung, SK Hynix, Micron, and KIOXIA are collectively investing billions to build next-generation fabrication capacity.
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