Kioxia Posts Record Net Loss on Lower Memory Prices

Economy

Tokyo, May 15 (Jiji Press)--Japanese semiconductor maker Kioxia Holdings Corp., formerly Toshiba Memory, on Wednesday posted a record net loss for the year ended March amid falling prices for flash memory chips.

Kioxia’s consolidated net loss expanded to 243.7 billion yen from 138.1 billion yen in the previous year.

Its revenue decreased 16 pct to 1,076.6 billion yen. The company saw its operating loss grow to 252.7 billion yen from 99 billion yen.

In the January-March quarter, Kioxia managed to secure operating and net profits as memory chip prices were stabilizing.

It expects to see growing demand for memory chips for use in data centers amid the spread of artificial intelligence technology.

[Copyright The Jiji Press, Ltd.]

Jiji Press