Japan's Kioxia Plans U.S. Listing Amid Global Chip Shortage

Japan's Kioxia Corporation has announced plans to list in the United States, capitalizing on the global shortage of storage chips, which has driven prices to record highs. According to Jin10, the company expects its operating profit for the quarter ending in June to reach 1.3 trillion yen (approximately $82 billion), surpassing analysts' average expectations. Additionally, Kioxia achieved a record profit of 596.8 billion yen in the quarter ending in March, also exceeding market forecasts. The Tokyo-based company's rapid growth reflects the surge in memory demand as hyperscale data center operators race to build AI infrastructure. Kioxia's stock has risen about 300% this year. Analysts project that the company's operating profit will reach 4.2 trillion yen in 2026, positioning it to surpass Toyota Motor Corporation as Japan's most profitable company.