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Japan's Kioxia opens new memory fab amid market downturn

Chipmaker opts for production cut but bullish on facility investment

The seventh fab at the Yokkaichi memory complex will begin full-scale operations later this fall. 

TOKYO -- Japanese chipmaker Kioxia Holdings on Wednesday opened a new 1 trillion-yen ($6.79 billion) flash memory fab, an occasion clouded by declining demand for memory chips amid global inflation.

The seventh fabrication facility, or Fab7, at the Yokkaichi Plant in Mie Prefecture completed its first-phase construction in April and will begin full operations later this fall once the equipment is brought in.

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