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Delayed IPO clouds Kioxia's vision as strong No. 2 in memory chips

Market unconvinced by ex-Toshiba unit's blueprint for growth

Formerly Toshiba Memory, Kioxia aims to be a more powerful industry No. 2 that can challenge front-runner Samsung.   © Reuters

TOKYO -- Memory chip maker Kioxia Holdings' postponement of its initial public offering casts doubt on a vision of creating a more powerful industry No. 2, one able to cut into Samsung Electronics' lead while fending off the rise of Chinese competitors.

Sino-American trade frictions proved a major factor in the decision to delay the Oct. 6 listing in Tokyo, threatening to freeze the Toshiba spinoff's shipments to Huawei Technologies.

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