TOKYO, May 15 (Reuters) – Japanese memory chipmaker Kioxia said on Friday it expected operating profit for the April-June quarter to reach 1.3 trillion yen ($8.20 billion) as the artificial intelligence boom boosts chip demand.
• The maker of NAND flash memory chips reported operating profit rose 92.7% to 870.4 billion yen in the year ended March, beating estimates.
• Kioxia said it is preparing to list American depositary shares on a U.S. exchange to grow its investor base.
• Its share price has more than quadrupled year-to-date, giving the chipmaker a larger market capitalisation than Sony and Uniqlo parent Fast Retailing.
• The valuation of South Korean chipmaker Samsung Electronics has topped $1 trillion, with SK Hynix also closing in on the milestone.
• Kioxia has seen years of upheaval including a carve-out from scandal-hit Toshiba by a Bain Capital-led consortium and a listing in Tokyo in late 2024.
• Memory makers have large capital needs and have been exposed to volatile price cycles.
($1 = 158.4600 yen)
(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)
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