Kioxia Holdings Corporation Secures Financing Commitment from Japanese Banking Consortium

  • June 17, 2024
  • Kioxia Holdings Corporation

Kioxia Holdings Corporation, a world leader in memory solutions, today announced the extension of loan maturity from a consortium of Japanese banks led by Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd. and Mizuho Bank Ltd. (“the Consortium”).

The Consortium agreed to extend the maturity of outstanding loans, amounting to approximately 540 billion yen. Additionally, the Consortium established an extra loan facility of 210 billion yen, enabling Kioxia to strengthen its agile and stable business operations.

Kioxia consolidated financial results returned to profit in the fiscal quarter ending March 31, 2024. With growing demand for AI applications and datacenters, the growth potential of the flash memory market in the mid to long term is expected. By securing funds through these latest financing measures, Kioxia will continue to proactively implement initiatives to enhance its research and development capabilities of flash memory and agile capital investment in line with market trends.

This announcement has been prepared to provide information on our business and does not constitute or form part of an offer or invitation to sell or a solicitation of an offer to buy or subscribe for or otherwise acquire any securities in any jurisdiction or an inducement to engage in investment activity nor shall it form the basis of or be relied on in connection with any contract thereof.