Kioxia to Build New Production Facility at Iwate Plant

Tokyo, Aug. 27 (Jiji Press)--Major Japanese memory chip maker Kioxia Holdings Corp. will build a new production facility within the premises of its plant in the city of Kitakami in the northeastern prefecture of Iwate, it was learned Thursday.

The company is expected to invest over 1 trillion yen in the new memory chip facility.

Kioxia Holdings President Hiroo Ota is slated to convey the plan to Prime Minister Sanae Takaichi in a meeting at the prime minister's office in Tokyo later in the day.

The company manufactures NAND flash memory chips at its plants in Kitakami and the city of Yokkaichi, Mie Prefecture, central Japan.

Through the planned new facility, the firm aims to meet increasing demand for memory chips for data centers amid the spread of artificial intelligence.

[Copyright The Jiji Press, Ltd.]