Kioxia Expects to Swing into Profit in Oct.-Dec.

Tokyo, Nov. 11 (Jiji Press)--Kioxia Holdings Corp. said on Monday that it expects to swing into profitability in the three months ending next month thanks to growing sales of memory chips for use in data centers amid the spread of artificial intelligence.

The Japanese chipmaker predicts a consolidated net profit of 56 billion to 84 billion yen for the fiscal third quarter, an improvement from a year-before loss of 64.9 billion yen.

Kioxia estimates sales at 430 billion to 480 billion yen, up from 262 billion yen a year earlier, and operating profit at 98 billion to 138 billion yen, against a year-before loss of 65 billion yen.

On Friday, Kioxia reported a net profit of 176 billion yen for the six months ended in September, the highest level for its fiscal first half.

The company aims to get shares listed on the Tokyo Stock Exchange between December this year and June 2025.

[Copyright The Jiji Press, Ltd.]