Kioxia's net profit increased 46-fold in the second quarter

Japan-based memory chip manufacturer Kioxia Holdings Corp. recorded a sharp increase in its profit in the second quarter of the year. According to a report by Sözcü, the company increased its net profit 46-fold compared to the same period last year, reaching 842.17 billion yen, or approximately 5.3 billion dollars, in the April-June period.

In the balance sheet released by the Tokyo-based company, it was stated that strong memory chip sales for data centers and demand from the artificial intelligence sector were the determining factors in the increase.

The company's sales revenue also increased more than 5-fold in the same period, reaching 1.77 trillion yen, or approximately 11.2 billion dollars. Operating profit reached 1.27 trillion yen, or approximately 8 billion dollars, a 28-fold increase.

Kioxia, which produces memory chips for computers, smartphones, and other digital devices, did not share its expectations for the 2026 fiscal year, which covers the period from April 2026 to March 2027.

Kioxia Chief Financial Officer Yoshihiko Kawamura said in a statement to reporters, "We believe that the growth of the (chip) market is in its early stages and that demand will increase."

News Source: 12punto