SK Hynix, the world’s second-largest NAND flash memory producer, is exploring deeper collaboration with Kioxia, the third-largest player. The South Korean group already holds approximately 14.19% of Kioxia through a Bain Capital investment vehicle, making it the largest shareholder ahead of Toshiba. Kioxia and its longtime partner SanDisk announced on the same day investments exceeding $31 billion in NAND production in Japan by 2032, contingent on government support. Together, SK Hynix and Kioxia would represent over 30% of the global market, positioning them in direct competition with Samsung, which controls roughly 31-32% of sales. Regulators in multiple jurisdictions may however scrutinize this partnership between two of the world’s top three producers.
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