[News] Kioxia Reportedly Forecasts 48-Fold April Quarter Profit Jump, Eyes U.S. ADS Listing Amid Memory Boom

Amid surging memory price momentum, Japan’s NAND heavyweight Kioxia has delivered another blockbuster quarterly outlook, with further upside still in play. According to Nikkei, the company expects April–June 2026 net profit (IFRS) to jump 48-fold year-on-year to ¥869 billion, sharply beating the market consensus of ¥405.6 billion, driven by robust NAND demand fueled by major U.S. tech firms’ AI investments.

Revenue is projected to surge 5.1x to ¥1.75 trillion, while operating profit is set to rise 29-fold to ¥1.298 trillion, according to the report. Kioxia has yet to issue a full-year forecast for FY March 2027.

Kioxia already posted consolidated net profit of ¥554.4 billion for the fiscal year ended March 2026, roughly double the prior year and a new all-time record, as AI-driven demand continues to fuel appetite for data center semiconductors, according to 47 News.

Notably, the record result was underpinned by a powerful fourth-quarter surge. According to the company’s earnings presentation materials, 4QFY26 gross margin reached 66% and operating margin hit 60%. By comparison, full-year FY2026 gross margin came in at 47% and operating margin at 37%, underscoring just how sharply profitability accelerated into year-end.

According to Kioxia, NAND bit growth in 2026 is expected to reach the high-teens percentage range, with supply constraints remaining a key limiting factor. Looking ahead to 2027, demand is projected to outpace supply, pointing to a tighter market balance.

Kioxia’s U.S. Capital Markets Push Builds on Domestic Market Rally

It is also worth noting that, as part of a broader push to deepen its integration with international capital markets and expand its global investor base, the company announced on May 15 that it is preparing to list American Depositary Shares (ADS) backed by its common stock on a U.S. exchange. The move aims to enhance corporate value, although the listing venue and timing have not yet been decided.

Kioxia has already proven to be a major success in Japan’s domestic capital market following its listing in late 2024. According to Nikkei, the memory giant is increasingly seen as a symbol of a potential reshaping of the country’s industrial hierarchy, with its share price surging roughly 24-fold year-on-year and nearly fivefold so far in 2026.

Investor expectations have grown even more striking: the market is now forecasting that Kioxia could surpass Toyota Motor in operating profit for the fiscal year ending March 2027, at around ¥4 trillion versus ¥3 trillion, the report notes. If realized, this would mark a rare shift, positioning the memory giant ahead of the world’s largest automaker in both profitability and potentially Japan’s corporate pecking order by market capitalization, Nikkei adds.

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(Photo credit: Kioxia)