Japan's Kioxia Holdings announced plans to offer US depositary receipts between April to June 2027 to capitalize on surging investor demand for AI-related semiconductor exposure. According to reports from Bloomberg News, Chief Financial Officer Yoshihiko Kawamura revealed the company intends to leverage the US market after the close of its current fiscal year at the end of March 2027. Describing the move as significant in creating a direct market link, Kawamura indicated the offering could take place during the April-June period. The planned U.S. listing comes as global investors pour money into AI-linked memory chipmakers, with Kioxia joining South Korean chipmaker SK Hynix in seeking greater access to the world's largest capital market.
The company reported a nearly 37% year-on-year increase in revenue, driven by rising flash memory demand from generative AI-focused data centres and enterprise customers. As reported by Bloomberg News, Kioxia is benefiting from growing demand for storage systems as AI workloads expand, alongside increased spending by data-centre builders and demand for mechanical hard disc drives. CEO Hiroo Ota told shareholders that AI-related demand remains strong, with the company seeing very strong demand from AI and that the recovery in the NAND market is also being supported by PCs and smartphones. Tokyo-based Kioxia, a leading supplier of NAND flash memory, has emerged as one of Japan's biggest beneficiaries of the AI-driven boom in memory chips.
Investor interest in Kioxia has been exceptionally strong, with the company's stock price increasing by at least 20 times between the end of April 2025 and the end of April 2026. According to Bloomberg News, Kioxia's shares rose as much as 15% on Thursday, extending gains to nearly 800% this year, after the company said it aims to tap the U.S. market shortly after the end of its current fiscal year in March 2027. The company's shares surged as much as 15%, contributing to an almost 800% rise this year, making it the best-performing shares on the MSCI World Index. Both share liquidity and the total number of shareholders rose substantially during this period.
Kioxia joins South Korean chipmaker SK Hynix in seeking greater access to the world's largest capital market. The company is evaluating a stock split to improve accessibility for retail investors. However, the company remains subject to a Consolidated Leverage Ratio target of 3.00:1 under its Senior Facility Agreement until March 31 next year. The planned U.S. listing comes as stronger-than-expected quarterly results from Micron Technology helped lift semiconductor stocks across Asia, with global investors continuing to pour money into AI-linked memory chipmakers.
