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Emoji happyKioxia: Fiscal 2Q21 Financial Results

Record revenue up 22% Q/Q and net near tripling

(in ¥ billion) 1Q21 2Q21 Growth
Revenue
329.5 400.5 22%
Net income (loss) 12.4 44.7  

Kioxia Holdings Corp. announced its financial results for the three months ended September 30, 2021.

It achieved record revenue in 2FQ21 with 22% quarterly growth.
• Data center/enterprise SSD shipments were solid, and smartphone shipments grew in line with seasonality. Total shipments continued to increase Q/Q.
• Overall ASP increased during the quarter driven by balanced supply/demand in the NAND market, only partially offset by product mix impacts.

Kioxia 2fq21 F1
1. Bit basis
2. Excluding third party NAND used in Solid State Storage Technology
Corporation’s SSDs

Industry/market trends and outlook
• Demand for datacenter/enterprise SSDs is expected to remain solid with continued cloud demand growth and strong IT spending backed by the Covid-19 economic recovery.
• Demand for client SSDs is softening in the short term as component shortages affect PC build despite solid consumer PC demand.
• Demand for smartphones is expected to continue growing in the long term driven by the roll out 5G and recovery from the decline caused by Covid-19, with seasonal fluctuations in the short term.
• The industry continues to monitor the further impacts of component shortages on customer demand and production across the supply chain.
• In the longer term horizon, industry experts remain confident in the NAND market growth potential and the underlying demand drivers.

 

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