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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.

The chipmaker plans to construct the new factory at its Yokkaichi complex in central Japan's Mie Prefecture.

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