[News] Kioxia Filed for Listing, Reportedly Marking Japan’s Largest IPO of the Year

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According to a report by the Nikkei, Japanese chip manufacturer Kioxia has submitted its initial public offering (IPO) application to the Tokyo Stock Exchange, triggering a long-awaited move as the development of artificial intelligence (AI) drives a surge in semiconductor demand. The company aims to go public in October, the report notes.

According to a report by Nikkei, citing sources, Kioxia’s valuation is expected to exceed JPY 1.5 trillion (roughly USD 10.3 billion). The deal is anticipated to surpass the JPY 420 billion raised by chip equipment maker Kokusai Electric during its 2023 IPO, which was the largest of that year. It is also expected to exceed the projected listing of Tokyo Metro in October, estimated at JPY 640 billion to 700 billion.

This move comes at a time when the Japanese government is increasing its support for investment in the chip industry, aiming to secure the supply of critical components amid rising geopolitical tensions.

As per another report from Anue, Kioxia had once planned to conduct its IPO in 2020.

However, the plan was postponed due to the uncertainty in the global chip market caused by U.S.-China trade tensions and the outbreak of the COVID-19 pandemic. At that time, Kioxia’s target valuation exceeded 2 trillion yen, which was later reduced to 1.7 trillion yen.

Last year, Kioxia engaged in merger talks with Western Digital’s flash memory business, but the negotiations stalled due to opposition from Kioxia’s shareholder, SK hynix.

Read more

• [News] Kioxia Ends Production Cuts, Signaling Potential Downturn in NAND Flash Market?
• [News] Kioxia and Western Digital Restart Merger Plan, SK Hynix Reportedly Remains Opposition

(Photo credit: Kioxia)