Kioxia announces investment of 729 billion yen to increase NAND flash memory production

Prior to the IPO, Kioxia announced plans to invest 729 billion yen to increase production of cutting-edge 218-layer NAND flash memory. The IPO is part of the project's financing efforts, in addition to a series of credit lines from Japanese banks and a 243 billion yen subsidy from the Japanese government. The investment is being made in conjunction with its US partner Western Digital.