Hayasaka Becomes President of Japan Chipmaker Kioxia

Economy Society

Tokyo, Jan. 29 (Jiji Press)--Major Japanese chipmaker Kioxia Holdings Corp. said Wednesday that it has appointed Executive Vice President Nobuo Hayasaka as its president, effective the same day.

Hayasaka, 64, succeeded Yasuo Naruke as chief of the company previously called Toshiba Memory Holdings Corp.

The move came after Naruke expressed his desire to step down from the president's post at the company formerly linked to Toshiba Corp. <6502> due to his illness. Naruke has been on medical leave since last July, with Hayasaka serving as acting president since then.

Hayasaka also took over the presidency from Naruke at core operating unit Kioxia Corp.

Toshiba sold its Toshiba Memory Corp. unit to a consortium led by a U.S. private equity fund in June 2018, following financial trouble at the Japanese electronics giant. The former subsidiary changed its name to Toshiba Memory Holdings, which was then renamed Kioxia Holdings in October 2019.

[Copyright The Jiji Press, Ltd.]

Jiji Press