The unlisted company, which was spun off by Toshiba Corp , reported an working revenue of 19.8 billion yen ($188 million) for the July-September quarter.
That in contrast with a lack of 65.8 billion yen in the identical interval a yr earlier, when the corporate was hit by a downturn within the chip market and a brief plant suspension as a consequence of an influence outage.
The corporate projected a short-term oversupply available in the market, and stated general shipments have been being “impacted primarily by latest U.S. commerce restrictions.”
Kioxia has shelved plans for what would have been Japan‘s largest preliminary public providing (IPO) this yr, as U.S.-China tensions cloud the worldwide chip market.
However it’s nonetheless going forward with plans to broaden capability, investing greater than $9 billion in a brand new manufacturing line in central Japan to satisfy rising demand for information storage in the long term.