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Kioxia Projects Net Profit of ¥869B for Q2, Up 47x YoY on Data Center Demand

GateNews
Stocks

According to Jin10, Kioxia Holdings announced on May 16 that it projects net profit of 869 billion yen (approximately $5.7 billion) for the April-June quarter, representing a 47-fold increase year-over-year, driven by surging data center and semiconductor demand. The NAND flash memory chipmaker also reported that net profit for the fiscal year ending March surged over 100% to 554.9 billion yen, marking a second consecutive record high. CEO Hiroo Ota stated at an online briefing that flash memory demand is expected to remain robust as artificial intelligence becomes part of social infrastructure, with anticipated NAND demand exceeding supply through 2027.

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