Kioxia Holdings announced plans to launch a U.S. depositary receipt offering in the spring of 2027, following the end of its fiscal year in late March [1, 2, 3]. The Japanese memory chip maker aims to tap into strong investor demand for AI-related semiconductor stocks as the sector gains momentum [1, 3].
Kioxia is also considering a stock split for its shares listed in Tokyo to make them more accessible to retail investors at home [2, 3]. The company’s shares have soared by nearly 800 to 900 percent year-to-date amid a surge in demand for NAND flash storage products fueled by AI workload growth [2, 3].
Kioxia, the nation's most valuable company this year, specializes in NAND flash memory that is seeing increased use due to expanding AI data volumes [2]. CEO Hiroo Ota said the rising demand reflects not only the AI boom but also strong sales in PCs and smartphones, stating, "Right now, this upward trend in the NAND market is driven not only by AI but is also evident in PCs and smartphones" [2].
The company's share price recently crossed ¥100,000 (about $620) per share [3]. Yoshihiko Kawamura highlighted the importance of the timing, saying, "Our target timing is the beginning of the next fiscal year, around April, May or June. This is a highly meaningful project for us as it establishes a direct link to the US market, and we are fully committed to making it a success" [2].
Kioxia’s fiscal year ends in late March 2027. The depositary receipt offering and any stock split are expected to occur in the spring months that follow, potentially boosting its investor base in the U.S. and Japan [1, 2, 3].
