According to TapTechNews on June 26, Reuters reported that the Japanese NAND flash memory giant Kioxia plans to submit a preliminary application for listing on the Tokyo Stock Exchange in the coming few days.
According to informed sources, Kioxia plans to submit a complete application in August and list by the end of October, and it may also be postponed to December.
Bain Capital led a consortium to acquire the storage division of Toshiba in 2018 and renamed it Kioxia. Bain Capital plans to recycle capital by selling shares, while Kioxia plans to raise funds by issuing new shares.
As TapTechNews reported previously, since 2021, Kioxia has been considering merging with Western Digital (WD), but SK Hynix, which holds a 15% stake in Kioxia, clearly opposed, and the many merger negotiations between Kioxia and Western Digital have ended in failure.
The 2023 fiscal year financial report released by Kioxia in March this year shows that the sales in the 2023 fiscal year is 1,076.6 billion yen (about 49.091 billion RMB currently), a year-on-year decline of 16%; the net loss is 243.7 billion yen (TapTechNews note: about 11.112 billion RMB currently), an increase of 105.6% compared to the 2022 fiscal year, and the net profit has been negative for two consecutive years.