Market Chatter: Kioxia to Build 1 Trillion Yen NAND Flash Memory Production Facility in Northern Japan; Shares Up 5%

MT Newswires Live08-27 11:48

Kioxia (TYO:285A) plans to build a NAND flash memory production facility at its Iwate plant in Northern Japan, with an investment that is expected to surpass 1 trillion yen, Nikkei Asia reported Thursday.

The facility will be the third building at the Iwate site and is expected to commence operations in 2029 or later, the report said.

Kioxia executives are expected to visit the prime minister's office on Thursday to announce construction plans for the new facility. The firm has begun approaching equipment suppliers and may receive subsidies from Japan's Ministry of Economy, Trade and Industry as well, it said.

The memory chip maker did not immediately respond to MT Newswires' request for comment.

Shares of Kioxia rose over 5% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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