Kioxia shares fall more than 15% after its profit outlook misses forecasts
Nikkei reports an April to December operating profit forecast of ¥5.26 trillion against a consensus of about ¥5.54 trillion; CNA says the shares are down about 70% from June's record high.
Why it matters
Kioxia is one of the main makers of the flash memory used in data centres, so its outlook is read as a gauge of AI-driven storage demand. A miss against consensus, with shares already far below June's record, adds to the doubts over AI spending that weighed on Tokyo on Monday. Watch for the company's explanation of the shortfall and whether other memory makers' guidance holds up.
Key facts
- Shares fell more than 15%
- April–December operating profit forecast: ¥5.26 trillion
- Consensus: about ¥5.54 trillion
- CNA: shares about 70% below June's record
How the story developed
- 2 Nov, 04:00 UTC Confirmed Kioxia's profit outlook falls short of forecasts and drags on Tokyo chip stocks
- 2 Nov, 05:00 UTC Confirmed Kioxia shares fall more than 15% after its profit outlook misses forecasts