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Kioxia to build new memory chip line in Japan to meet data storage demand

Kioxia Holdings Corp said on Thursday it would build a new production line for NAND memory chips in central Japan to meet growing demand for data storage in everything from smartphones to self-driving cars.

TOKYO, Oct 29 (Reuters) - Kioxia Holdings Corp 6600.T said on Thursday it would build a new production line for NAND memory chips in central Japan to meet growing demand for data storage in everything from smartphones to self-driving cars.

The new line, the seventh for Kioxia, will be built at its existing plant in Yokkaichi. The first phase of construction will be completed by the spring of 2022.

Kioxia and its U.S. partner, Western Digital WDC.O, are expected to jointly invest in the new line, the Japanese firm said in a statement. The companies did not disclose the amount of total investment for the new facility.

Toshiba and Western Digital held a combined 32.7% NAND global market share in terms of revenue in the April-June quarter, exceeding industry leader Samsung Electronics' 005930.KS 31.4%, according to TrendForce.

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar)

((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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