Kioxia Holdings Corp. shares rose 3.7% to ¥51,840 on Thursday after a Nikkei report said the memory chipmaker plans to build a major new NAND flash manufacturing plant in northern Japan.
The facility, with total investment expected to exceed ¥1 trillion ($6.27 billion), marks one of the largest capacity expansions in the company’s history. Kioxia executives are scheduled to brief Prime Minister Sanae Takaichi’s office on the project, according to the report.
The announcement underscores management’s confidence in sustained AI-driven demand for NAND flash memory, a key component in data center and consumer electronics storage. The news follows strong earnings from Nvidia Corp., which bolstered broader investor sentiment toward chipmakers and AI-related sectors.
Kioxia’s stock advance reflects growing optimism about long-term memory market fundamentals amid rising data center investment and AI workloads. The company has not officially confirmed the report.
