Kioxia and Sandisk plan $31B investment in Japan through 2032

Kioxia Corporation, a subsidiary of Kioxia Holdings Corporation (TOKYO: 285A), and Sandisk Corporation (NASDAQ: SNDK) announced plans to invest over $31 billion (approximately 5 trillion yen) in Japan through 2032, contingent upon government support.

The investment will support continued buildout of infrastructure at Kioxia's Yokkaichi Plant and the Kitakami Plant, along with related technology. The companies said the funds are intended to drive multi-year flash memory supply growth and ensure stable production.

The two companies have operated a joint venture for more than 25 years, during which they claim to have invested over $50 billion in Japan. In January, Kioxia and Sandisk extended their joint venture framework at the Yokkaichi Plant through December 2034.

Kioxia President and CEO Hiroo Ota said the investment "underscores Kioxia's strong commitment to contributing to the advancement of an AI-driven society" and cited the importance of continued Japanese government support for the company's global competitiveness.

Sandisk Chairman and CEO David Goeckeler said the planned investments are "in line with our business strategy and financial guidance" and are intended to support customer demand while creating economic opportunities in the communities where the companies operate.

According to the press release, the investments align with the economic policy goals of Japan's Takaichi administration, supporting advanced semiconductor manufacturing.

You May Also Be Interested In

• S&P Dow Jones Indices adds Bloom Energy to S&P 500 index
• S&P announces major changes in S&P 100, S&P 500, S&P 400
• Lion Copper and Gold Corp. to rename and consolidate shares for Nasdaq bid