In a significant development for the semiconductor industry, Kioxia is gearing up for an initial public offering (IPO), according to sources in the Japanese media. The company, which has been evaluating the possibility of going public to raise funds, is now set to submit its preliminary application to the Tokyo Stock Exchange and aims to be listed by the end of October.

Kioxia's insiders have indicated that the company is preparing to submit its formal application by the end of August, targeting an IPO by the end of October. However, the timeline is subject to change, and the IPO could potentially be postponed to December, depending on the progress of preparations. It is also suggested that the funds raised through this IPO may be lower than the initial estimates made in 2020.

Kioxia's financial report for the fourth quarter of the fiscal year 2023, which ended on March 31, shows a significant improvement in performance. With the further improvement of supply and demand balance, a continued increase in average selling price (ASP), and a reduction in inventory valuation losses, Kioxia reported a Q4 revenue of 322.1 billion yen (approximately $2.06 billion), a 23% increase from the previous quarter. The operating profit was 43.9 billion yen (approximately $280 million), turning from a loss to a profit, and the net profit was 10.3 billion yen (approximately $65.98 million), also turning from a loss to a profit.

Looking ahead, Kioxia is optimistic about the market's future, anticipating a continued improvement in the supply-demand balance and a steady rise in market prices. The company's decision to pursue an IPO reflects its confidence in the semiconductor market's recovery and its own financial turnaround, positioning Kioxia for potential growth and expansion in the coming period.