In the rapidly evolving world of technology, KIOXIA stands out as a global leader in computer memory and storage solutions. Rooted in the legacy of Japanese electronics giant Toshiba, KIOXIA continues to drive innovation through its cutting-edge technologies. This article explores the company’s history, technological breakthroughs, market position, production facilities, strategic partnerships, product portfolio, financial performance, and future strategies, highlighting its role in shaping the digital future.
Historical Background and Company Origins
KIOXIA is a leading global manufacturer of computer memory, headquartered in Tokyo, Japan. Its origins trace back to Toshiba, from which it spun off in June 2018 as an independent entity under the name Toshiba Memory Corporation. In October 2019, it rebranded to KIOXIA, a name derived from the Japanese word “kioku” (memory) and the Greek word “axia” (value), reflecting its mission to “elevate the world with memory.”
Currently, KIOXIA is majority-owned by Bain Capital (51.1%), with Toshiba retaining a 30.5% stake and Hoya holding 3%. This separation allowed KIOXIA to focus exclusively on memory solutions, fostering rapid growth and continuous innovation.
Groundbreaking Technological Achievements
KIOXIA holds a distinguished place in technology history as the inventor of NAND Flash memory in 1987. Developed by Dr. Fujio Masuoka at Toshiba, this revolutionary invention enabled non-volatile data storage, retaining data even without power. Today, NAND Flash is the backbone of the modern information society, used in applications ranging from smartphones to data centers.
Another milestone is KIOXIA’s development of BiCS FLASH, a pioneering 3D flash memory technology introduced at the 2007 VLSI Symposium. This technology employs a vertical, three-dimensional cell structure, significantly increasing storage capacity without enlarging chip size. The current eighth-generation BiCS FLASH, featuring 218 layers and CMOS directly Bonded to Array (CBA) technology, delivers industry-leading bit density. It allows separate manufacturing of CMOS wafers and cell arrays under optimal conditions, then bonding them for enhanced bit density and high-speed NAND input/output performance.
In a recent advancement, KIOXIA announced in July 2025 the shipment of samples for its ninth-generation BiCS FLASH, featuring 120 layers and significant performance improvements:
- 61% improvement in write performance
- 12% improvement in read performance
- 36% energy efficiency gain in write operations and 27% in read operations
- Data transfer speed via Toggle DDR6.0 interface, enabling high-speed NAND performance at 3.6Gb/s
- 8% increase in bit density
Market Position and Competitive Landscape
KIOXIA ranks third globally in the NAND Flash memory market, holding a 17-20% market share, trailing behind Samsung, the market leader, and SK Group. Despite its strong position, KIOXIA continues to enhance its competitive edge through technological innovation and strategic partnerships.
With the rising demand for artificial intelligence (AI) applications, KIOXIA is developing specialized solutions for this growing market. While competitors like Samsung and SK Hynix focus on high-bandwidth memory (HBM), KIOXIA targets AI inference markets with high-performance SSDs. The company projects that by 2029, half of NAND memory demand will be driven by AI applications. In collaboration with NVIDIA, KIOXIA is developing SSDs with read speeds approximately 100 times faster than current products, with plans for commercial release by 2027.
Production Facilities and Manufacturing Capabilities
KIOXIA’s Yokkaichi plant in Mie Prefecture, Japan, is among the world’s largest flash memory production facilities, if not the largest. Spanning an area equivalent to 98 football fields (694,000 square meters), it houses seven production facilities operating 24/7 with fully automated systems. More than a traditional factory, Yokkaichi is a smart facility leveraging advanced digital technologies for over 30 years. It generates 3 billion data points daily, utilizing AI, machine learning, and deep learning to optimize production processes and maximize efficiency.
In October 2022, KIOXIA and Western Digital inaugurated the state-of-the-art Fab7 facility at Yokkaichi, one of the most advanced semiconductor manufacturing sites globally. Fab7 is capable of producing sixth-generation 3D flash memory with 162 layers and future advanced generations. The first phase of Fab7 involved investments of approximately one trillion yen, supported by government subsidies to bolster advanced semiconductor production and ensure stable output in Japan. The facility uses AI to enhance production efficiency and features a space-saving design that expands cleanroom manufacturing space.
Additionally, KIOXIA operates the Kitakami plant in Iwate Prefecture through its subsidiary, KIOXIA Iwate Corporation, contributing to meeting global flash memory demand.
Strategic Partnership with Western Digital
KIOXIA maintains a strategic partnership with Western Digital spanning over 20 years, the longest and most successful in the semiconductor industry. This collaboration includes joint development of 3D flash memory technology and shared investments in manufacturing facilities.
In 2024, the KIOXIA-Western Digital joint venture received a Japanese government subsidy of 150 billion yen for their Yokkaichi and Kitakami plants, marking the second such support after a 92.9 billion yen subsidy in 2022. Despite challenges from organizational changes at both companies, they continue to collaborate on next-generation 3D flash memory technologies and invest in alignment with market trends to strengthen their competitive position.
Product Portfolio and Technologies
KIOXIA’s product portfolio encompasses a wide range of NAND Flash memory solutions, including:
- BiCS FLASH: Industry-leading 3D memory technology used in diverse applications, from data centers to smartphones, including Apple’s iPhone.
- SLC NAND: Offers top-tier endurance and data retention for sensitive or frequently accessed data.
- BENAND: SLC NAND with an internal error correction engine, enabling designers to use advanced 24nm SLC NAND even when platforms lack high-bit error correction support.
KIOXIA also develops a comprehensive range of solid-state drives (SSDs):
- Client SSDs: Widely used in laptops, desktops, and gaming systems.
- Enterprise and Data Center SSDs: Optimized for intensive workloads in large-scale business operations.
- KIOXIA CM9 Series: High-performance SSDs for AI systems, designed to maximize GPU capabilities.
- KIOXIA LC9 Series: High-capacity SSDs offering up to 122TB, ideal for large-scale databases used in AI inference.
Additionally, KIOXIA provides specialized storage products, including Universal Flash Storage (UFS) for smartphones, tablets, and automotive systems; eMMC for mobile and embedded devices; and memory cards for consumers and various applications.
Financial Performance and Strategy
In the second quarter of the 2025 fiscal year, KIOXIA faced challenges, with revenues declining to 342.8 billion yen ($2.36 billion), a 20% drop from the previous year, though exceeding expectations of 310 billion yen. Net profit fell 73.5% to 18.5 billion yen ($127.6 million). Despite these declines, Chief Financial Officer Hideki Hanazawa noted “clear signs of recovery from the downward trend,” attributing the better-than-expected results to higher selling prices and favorable currency exchange rates.
KIOXIA achieved a significant milestone with its listing on the Tokyo Stock Exchange on December 18, 2024, marking Japan’s second-largest initial public offering (IPO) of the year by market value. Shares were priced at 1,455 yen, rising 10% on the first trading day. The IPO raised 120 billion yen (approximately $800 million), including an overallotment option, to fund research and development to meet long-term demand for AI chips. The IPO earned the 2024 Equity Deal of the Year award at the DealWatch Awards, reflecting its success and positive market reception.
KIOXIA’s mid- and long-term strategy focuses on growth in the AI era, anticipating that flash memory demand will surge due to the need for high-performance, high-capacity SSDs for AI inference systems. The company aims to expand its SSD business with advanced products tailored to AI’s evolving requirements.
Future Technological Developments
KIOXIA is developing the tenth generation of BiCS FLASH, which will increase the number of memory layers to meet future demand for high-capacity, high-performance solutions. Projections suggest this generation may feature 332 layers, improving bit density by 59%.
In collaboration with SanDisk, KIOXIA developed next-generation 3D flash memory achieving an industry-standard NAND interface speed of 4.8Gb/s, with superior energy efficiency and enhanced density. This technology integrates the latest Toggle DDR6.0 interface standard for NAND Flash, leveraging SCA protocol and PI-LTT technology to reduce power consumption.
KIOXIA aims to achieve 3D memory with 1,000 layers by 2027, competing with Samsung to maintain leading bit density in NAND memory and grow its market share. This ambitious goal requires multiple technological leaps to reach this milestone.
Impact on the Storage Industry
KIOXIA continues to play a pivotal role in shaping the future of the storage industry through its pioneering BiCS FLASH technology. This innovation enables high-density storage solutions while maintaining reliability and efficiency, significantly enhancing the capabilities of data centers, consumer electronics, and mobile devices. By leveraging vertical stacking, KIOXIA’s BiCS FLASH overcomes the limitations of planar NAND, paving the way for future advancements in memory storage. This achievement solidifies KIOXIA’s position as an industry leader and a key contributor to the global information infrastructure.
Conclusion: KIOXIA Leading Memory Innovation in the AI Era
KIOXIA exemplifies excellence and innovation in the global memory and storage industry. From its groundbreaking invention of NAND Flash memory in 1987 to its revolutionary BiCS FLASH 3D technology and ambitious plans for 1,000-layer memory, KIOXIA continues to cement its status as a technological powerhouse.
With its advanced production facilities, long-standing strategic partnership with Western Digital, and diverse product portfolio serving markets from smartphones to advanced data centers, KIOXIA is well-positioned to capitalize on emerging opportunities in the growing AI era. Its successful IPO and clear future strategy underscore its commitment to driving digital transformation and technological innovation. KIOXIA proves that memory is not just a technical component but a driving force behind the digital revolution in our modern world.
