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Electronics

Japan's Kioxia to build $9.5bn NAND plant to meet 5G demand

After delayed IPO, former Toshiba unit to build its biggest memory factory

Former Toshiba memory unit Kioxia will build a $9.5 billion NAND flash memory plant at its Yokkaichi complex in central Japan, aiming to stay competitive with chipmakers in South Korea and China.

TOKYO -- Former Toshiba memory unit Kioxia will build a new 1 trillion yen ($9.5 billion) factory to lift its production of cutting-edge NAND flash memory, the company said Thursday, as it aims to meet rising demand spurred by the growth of 5G networks.

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