KIOXIA

Kioxia Corporation , the world leader in memory solutions, today announced it will begin construction of a state-of-the-art new fabrication facility (Fab2) at its Kitakami Plant in Iwate Prefecture, Japan for the possible expansion of production of its proprietary 3D Flash memory BiCS FLASH^TM . Construction of the facility is scheduled to commence in April 2022 and is expected to be completed in 2023.

The new Fab2 facility will utilize AI-based cutting-edge manufacturing to increase production capacity of the entire Kitakami Plant and further enhance product quality, allowing Kioxia to expand its business organically and take advantage of the medium to long term growth of the flash memory market driven by the accelerating adoption of cloud services, 5G, IoT, AI, automated driving and the metaverse.

The Fab2 facility will be built on the east side of the existing Fab1 facility at Kitakami Plant, and will have an earthquake-resistant architectural structure and environmentally friendly design that utilizes state-of-the-art energy saving manufacturing equipment and renewable energy sources. Kioxia plans to fund the capital investments for the construction of the Fab2 from its operating cash flow.

“The construction of Fab2 is a key milestone for Kioxia to further strengthen our strategic development and production capability for advanced memory products, so that we are in an even better competitive position to address the increasing market demand for memory products,” said Nobuo Hayasaka, President and CEO, Kioxia. “We are pleased to announce that Fab2 will not only increase production capacity of Kioxia, but will also serve as an important base for implementing the kind of high level and sustainable operations that Kioxia strives to achieve going forward.”

Kioxia plans to hold discussions with Western Digital in regard to expanding the flash joint venture to the Fab2 investment.

Under its mission of uplifting the world with memory, Kioxia is focused on developing initiatives to strengthen the competitiveness of its memory and SSD business, which it has developed over the past 35 years since inventing NAND flash memory in 1987. Kioxia remains committed to creating consistent and sustainable growth through timely capital investments that meet growing market demand.

About Kioxia

Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with memory by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers.

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