TOKYO — Japanese memory chip maker Kioxia Holdings announced plans to build a new production facility at its plant in northern Japan. The investment for this project is expected to exceed 1 trillion yen (approximately $6.27 billion), according to Nikkei Asia.

Kioxia, which holds the third-largest share of the global NAND memory market after Samsung Electronics and SK Hynix, is following its Korean rivals in expanding production capacity. This move underscores the company's commitment to strengthening its position in the competitive memory chip industry.

The planned facility will enhance Kioxia's manufacturing capabilities and support growing demand for NAND memory products.

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