Japan's Kioxia Aims to Go Public by June 2025

Tokyo, Nov. 8 (Jiji Press)--Japanese flash memory maker Kioxia Holdings Corp. aims to go public on the Tokyo Stock Exchange between December this year and June 2025, officials said Friday.

The company submitted a securities registration statement to the Financial Services Agency the same day. Nomura Securities Co., Mitsubishi UFJ Morgan Stanley Securities Co. and BofA Securities Japan Co. will act as lead managers.

Kioxia, previously called Toshiba Memory Corp., became the first company to file a securities registration statement with the financial industry watchdog before receiving listing approval from a stock exchange.

This system was introduced in October last year to shorten the time for listing procedures and allow companies to have dialogue with investors before listing approval.

Kioxia filed for stock listing approval with the TSE in August this year in hopes of diversifying its funding methods in preparation for massive capital investment.

[Copyright The Jiji Press, Ltd.]