With cautious capital expenditure, Kioxia's market value surpasses 50 trillion yen, but its fiscal year investment plan drops 10% from the 2023 peak.
Odaily reported that AI investor 루팡 stated on the X platform that Kioxia's recent market capitalization surpassed 50 trillion yen, but its future capital expenditure remains cautious compared to the past. Kioxia plans to invest an average of 470 billion yen annually between fiscal years 2026 and 2028, a 66% increase from 2025, but about 10% lower than the historical high of 510.4 billion yen in fiscal year 2023.
In 2022, Kioxia invested 1 trillion yen in the Yokkaichi plant, but subsequently suffered losses for five consecutive quarters due to declining demand. Currently, it is focusing on cash flow management around its Kitakami plant. The NAND market is currently in an upswing, with contract prices in the second quarter of 2026 rising 70% to 75% quarter-on-quarter and supply shortages intensifying. Kioxia plans to convert 50% of its total shipments to long-term supply agreements by 2028 to secure a stable revenue base. After Kioxia restricts market supply, Samsung Electronics and SK hynix may gain related opportunities, and Korean companies in the NAND process materials, components, and equipment sectors may also benefit. The consortium including SK hynix still holds an 18% stake in Kioxia, and as Kioxia's enterprise value increases, SK hynix's potential investment returns may expand.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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