Kioxia Shares Surge 21% After First Profitable Earnings Report and $2.7 Billion Profit for Fiscal Year Ending March 2025

Kioxia Holdings, the Japanese memory chip maker, experienced a stock surge of up to 21% following the release of its first profitable earnings report since its IPO in December 2024. The company's shares rallied as much as 19% on the Tokyo Stock Exchange, marking the highest increase since its listing. Kioxia reported a net profit of $2.7 billion for the fiscal year ending March 2025, driven by strong demand for flash memory in AI data centers. The company anticipates an annual net profit ranging from ¥254 billion to ¥268 billion (approximately $1.7 billion) for the fiscal year, reflecting a robust recovery in the semiconductor market.