Kioxia rides the AI wave to record revenues and a US listing

Kioxia reported record quarterly revenue of ¥1.0029 trillion ($6.29 billion) for the fourth quarter of fiscal 2026, an 84.5 percent increase driven by surging AI demand for SSDs. The NAND flash manufacturer, which has no DRAM business, saw net income swell to ¥407.7 billion ($2.56 billion) as AI server demand boosted SSD shipments and average selling prices. Kioxia is now preparing to list American depositary shares on a US stock exchange to expand its investor base and increase corporate value.

flash Kioxia rides the AI wave to record revenues and a US listing There's never been a better time to manufacture SSDs: AI-driven demand is fueling Kioxia’s financial results and - like SK Hynix - it is planning a US stock exchange listing. Revenue for Q4 of its fiscal 2026 ended March https://ssl4.eir-parts.net/doc/285A/tdnet/2815628/00.pdf came in at ¥1,002.9 trillion $6.29 billion , up 84.5 percent on the previous quarter. Net income swelled to ¥407.7 billion $2.56 billion versus ¥87.8 billion. Unlike competitors Samsung, SK Hynix and Micron, who have recorded AI-driven DRAM revenue booms for the past two or three quarters, Kioxia has no DRAM business and only now is seeing a massive financial uplift in orders for SSDs. This mirrors Sandisk’s https://www.blocksandfiles.com/flash/2026/05/01/spectacular-cash-generator-sandisk-generates-spectacular-pile-of-dollars/5219142 recent results. Kioxia said the revenue hike “was primarily due to a significant increase in average selling prices ASPs , partially offset by reduced bit shipment.” As reported in the FT, https://www.ft.com/content/1e2641ba-14ba-403d-86eb-e484df00964b?syn-25a6b1a6=1 Kioxia CEO Hiroo Oota said: “We are riding the wave of AI demand. As AI becomes a pillar of society, the strength of the flash memory market is expected to continue.” The business unit numbers show the dramatic quarterly surge in SSD revenues: - SSD and storage: ¥600.3 billion $3.77 billion - up 99.8 percent - Smart devices: ¥337.3 billion $2.18 billion - up 81 percent - Other: ¥65.2 billion $409 million - up 14.3 percent We're told Kioxia's NAND revenue generated by selling to PC manufacturers went up primarily due to higher prices. Strong AI server demand in the data center and enterprise markets drove record SSD shipments and ASP expansion contributed to staggering revenue growth Kioxia said it is preparing to list American depositary shares ADSs representing its common shares on a US stock exchange to grow its investor base and increase its corporate value. This is similar to SK Hynix’s proposal. https://www.blocksandfiles.com/ai-ml/2026/03/25/nand-dram-fabber-sk-hynix-wants-us-stock-listing-for-chip-fab-cash/5211518 The many twists and turns of Kioxia’s history https://www.blocksandfiles.com/disk/2023/08/07/toshiba-14b-buyout-offer-led-by-japanese-businesses-is-go/1612150 , including its spin out of Toshiba Memory Systems, are now fading. Full year fiscal 2026 revenues were ¥2.337 trillion $14.7 billion , up 37 percent increase year-on-year. Net profit came in at ¥554.5 billion $3.483 billion , up from ¥272.3 billion.