According to Huoxing Finance, on July 31, Japan’s Kioxia released its earnings report, reporting a first-quarter net profit of ¥842.17 billion, compared to ¥18.28 billion in the same period last year. The result fell short of the market expectation of ¥973.81 billion. Despite continued strong demand for NAND flash memory driven by AI, Kioxia’s profitability remains at a historical high. However, this performance lagged behind consensus estimates, suggesting that market expectations for AI-driven storage demand had already been fully priced in, potentially leading to a short-term cooling in investor sentiment. Future performance will depend on the company’s full-year guidance and changes in NAND supply and demand dynamics.
Kioxia's Q1 profit falls below market expectations as demand outlook for AI storage cools.
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Summary
Kioxia’s first-quarter net profit came in at 84.217 billion yen, below the market outlook of 97.381 billion yen. Market sentiment has softened as growth in AI storage demand appears to have been overestimated. While demand for NAND flash from AI applications remains strong, the results raise questions about the company’s full-year guidance and the evolving supply-demand balance.
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