According to Japanese media reports, KIOXIA aims to go public through an IPO between December 2024 and June 2025. For the first time, it will utilize Japan's newly introduced listing application method, the S-1 method, which was introduced in October 2023 to shorten the process time required for listing. Depending on market trends, it will continue to explore the possibility of going public within this year (December 2024).

The original IPO procedure in Japan was to submit a public prospectus to the Financial Services Agency after obtaining the listing permit from the Eastern Stock Exchange, and then engage in dialogue with institutional investors to determine the issuance price. The newly introduced "S-1 method" can submit a public prospectus to the Financial Services Department and engage in dialogue with investors before obtaining listing approval, reducing the time required from obtaining approval to public offering of stocks from about 1 month to about 10 days.

According to reports, KIOXIA will submit a public statement to the Financial Services Agency on the afternoon of the 8th, with a market value target of over 1 trillion yen.

KIOXIA applied for listing on the Eastern Stock Exchange in August this year, with the goal of going public in October. However, investors demanded that Bain Capital lower the valuation of KIOXIA's IPO to about half of its target value (about 1.5 trillion yen), citing slow recovery in the semiconductor market. This also led Bain Capital to abandon its plan for KIOXIA to go public at the end of October.