Investing
Japan chipmaker Kioxia reports $434 million Q3 loss
© Reuters. FILE PHOTO: Japanese chipmaker Kioxia’s products are displayed at its headquarters in Tokyo, Japan, Sept. 30, 2021. REUTERS/Kim Kyung-Hoon/File Photo
By Sam Nussey
TOKYO (Reuters) – Bain Capital-backed chipmaker Kioxia on Friday reported a narrower third-quarter operating loss of 65 billion yen ($434.70 million) sequentially, saying selling prices for its memory chips have begun rising as customer inventories normalise.
The loss compared with a 100.8 billion yen loss three months earlier, with Kioxia adding it expects improvement in demand for smartphones and PCs.
Japan’s industry ministry said this week it would extend subsidies worth as much as $1.64 billion for Kioxia and Western Digital (NASDAQ:) to expand chip production in Mie and Iwate prefectures.
Kioxia was formerly the memory business of Toshiba (OTC:) and was spun off from that conglomerate. In December, Toshiba was taken private by a group of investors led by private equity firm Japan Industrial Partners (JIP).
($1 = 149.5300 yen)
Read the full article here
-
Side Hustles6 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Make Money7 days ago
15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles7 days ago
How to Maximize Your Profits With This Annual 8-Step Checklist
-
Investing7 days ago
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
-
Passive Income7 days ago
Why Email Marketing Is Still Your Business’s Most Powerful Tool
-
Side Hustles7 days ago
Want to Start a Business? Consider Buying One Instead — Here’s Why.
-
Investing6 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Investing6 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks