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Kioxia Forecasts $8.2B Operating Profit for June Quarter, Stock Up 300% This Year

GateNews
Stocks

According to Bloomberg, on May 18, Kioxia forecast 1.3 trillion yen ($8.2 billion) in operating profit for the June quarter after reporting quarterly earnings above expectations. The forecast exceeds the record profit the Tokyo-based NAND flash memory maker earned in the full year ended March.

Kioxia’s shares were locked in a buy-order imbalance in early Tokyo trading following the results. The company attributed the stronger outlook to NAND prices more than doubling in the March quarter, with its stock rising more than 300% this year. Kioxia is also discussing long-term supply contracts for 2027 and 2028 with large AI data center customers.

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