Kioxia plans to invest over $6.3 billion in a new storage production facility in Japan

According to Nikkei Asia, storage chip manufacturer Kioxia Holdings plans to build new production facilities at its factory in northern Japan, with project investments expected to exceed 1 trillion yen (approximately 6.27 billion USD).

Kioxia currently ranks third in the global NAND flash memory market, behind Samsung Electronics and SK Hynix. The company's move aims to follow its South Korean competitors in increasing production capacity to meet market demand.