Bain Capital rút khỏi Kioxia, Toshiba tái chiếm vị trí cổ đông lớn nhất

The Huoxing Finance report, on July 26, according to Korean media Daum, Bain Capital, a U.S. investment fund, is expected to realize approximately JPY 2.5 trillion in investment gains from selling a majority stake in Japanese storage chip company Kioxia, setting one of the highest returns on record for Japanese private equity (PE) deals. With Bain Capital’s exit, Toshiba has once again become Kioxia’s largest shareholder, holding approximately 15%; SK Hynix, through convertible bonds held via a special purpose company (SPC), has become the de facto second-largest shareholder, with an approximate 14% equity stake. However, since SK Hynix has not yet converted its convertible bonds into shares, it currently lacks formal voting rights as a shareholder and must complete conversion after passing antitrust reviews in various countries. Previously, SK Hynix invested approximately JPY 395 billion in the relevant SPC via convertible bonds and pledged not to hold more than 15% of Kioxia’s voting rights before 2028. The market is closely watching how Kioxia’s complex ownership structure and potential changes in SK Hynix’s equity position will become key variables in Japan’s strategic semiconductor industry布局.