Kioxia Forecasts Record High Sales for Fiscal Year 2024,Targeting $7.75 Billion Revenue
Tokyo, Japan – Kioxia Corporation, a leading manufacturer of flash memory, has projected a record-breaking sales revenue of 1.6 trillion Japanese yen (approximately $7.75 billion USD) for the fiscal year ending March 31, 2025. This ambitious forecast represents a significant 48.8% increase compared to the previous fiscal year’s revenue of 1.0766 trillion yen.
The company’s optimistic outlook is fueled by strong performance in the first quarter of fiscal year 2024,which saw revenue reaching 4285 billion yen (approximately $207.69 billion USD). This figure represents a substantial year-on-year increase of over 70%, setting a new record for the company’s quarterly earnings.
Kioxia’s previous peak revenue was achieved in fiscal year 2017, when the company was still operating as Toshiba Memory, reaching 1.5265 trillion yen. The company’s recent resurgence in revenue is attributed to a combination of factors, including the growingdemand for flash memory in various industries, particularly in data centers and smartphones.
Beyond revenue, Kioxia also anticipates a significant turnaround in profitability. The company projects a net operating profit of 3000 billion yen (approximately $145.41 billion USD) for fiscal year 2024, a remarkable improvement from the 2437 billion yen net loss incurred in the previous fiscal year.
Kioxia’s strong financial performance has further fueled its plans for an initial public offering (IPO). The company submitted an IPO application to the Tokyo Stock Exchange on August 23rd,aiming for a listing as early as October this year. The IPO is expected to be valued at over 1.5 trillion yen (approximately $727.05 billion USD), potentially becoming the largest IPO on the Tokyo Stock Exchange this year.
This news comes as a positive sign for the global semiconductor industry, particularly for the flash memory market. Kioxia’s strong performance and aggressive growth plans indicate a robust demand for flash memory, driven by the increasing need for data storage and processing capabilities across various sectors.
Key takeaways:
- Kioxia forecasts record-high sales revenue of 1.6 trillionyen for fiscal year 2024, representing a 48.8% increase compared to the previous year.
- The company’s first-quarter revenue reached 4285 billion yen, marking a substantial year-on-year increase of over 70%.
- Kioxiaanticipates a significant turnaround in profitability, projecting a net operating profit of 3000 billion yen for fiscal year 2024.
- The company is targeting an IPO on the Tokyo Stock Exchange in October, with an expected valuation of over 1.5 trillion yen.
Looking ahead:
Kioxia’s ambitious growth plans and strong financial performance suggest a positive outlook for the company’s future. The company’s focus on innovation and expansion into new markets will likely drive further growth in the coming years. The success of Kioxia’s IPO will also be closely watched by investors, as itcould signal a broader resurgence in the semiconductor industry.
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