Kioxia Holdings — 285A.T
Technology · Semiconductors · TSE (local listing)
About Kioxia Holdings
Kioxia Holdings Corporation engages in research, development, manufacturing, sales, and other services of memory and related products for solid state drives (SSDs) and storage and smart devices in Japan, North America, Europe, and Asia. The company offers flash memory, SSDs, SD memory cards, and other retail products. It is also involved in the product and software development of SSD products; marketing of memory and SSD products; production management of subcontracted production in the post-process of memory; production and distribution of memory and photomask for semiconductor products; energy management business; and entrusted engineering work of CIM developments, as well as provides cleaning and health keeping for development center, and customer support services. The company was formerly known as Toshiba Memory Holdings Corporation and changed its name to Kioxia Holdings Corporation
The global AI memory chain
Memory is where the AI build-out is most supply-constrained: high-bandwidth memory (HBM) feeds the accelerators, and data-center DRAM and NAND scale with every new cluster. The industry is a tight oligopoly — Samsung, SK hynix and Micron in DRAM; those plus Kioxia and Sandisk in NAND — famous for brutal boom-bust cycles: shortages mint record profits, then capacity catches up and prices collapse. Kioxia (the former Toshiba Memory) is a top-3 NAND flash maker; AI data-center storage demand and the memory upcycle drive the story, with the volatility of a recent listing on top.
Key data · local session close, delayed · as of 8 July 2026
| Ticker / exchange | 285A.T · TSE |
| Company | Kioxia Holdings |
| Price (local) | ¥77,710 |
| Market cap | ¥42.5T |
| Performance | 1M +8.1% · 1Y +3058.9% |
| Analyst mean target | ¥113,300 (16 analysts, buy) |
Valuation read
What the price implies: after the global AI-memory run (+3059% in a year on the local line) — like the rest of the memory complex, the market is treating current earnings as close to a cycle peak rather than a new baseline. Cyclicals at peak earnings can look deceptively cheap on multiples; that's the cycle speaking, not automatically value. Compare the US-listed peers with the fair-value calculator.
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The memory complex
SKSamsungNanyaWinbondMUDRAM ETF
See the full picture on the AI stocks bubble map, or gauge froth with the AI bubble-risk index — and stress-test your memory exposure with the portfolio stress test.
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