Kioxia briefly overtakes Toyota to become Japan's leader

Kioxia, one of the world's leading NAND flash memory manufacturers, surpassed Toyota Motor Corporation in market capitalization during trading on June 12, becoming Japan's most valuable company. This event went down in history as a temporary displacement of the long-standing automotive giant. This is reported by Ixbt.com reports .

According to Japanese media, Kioxia's market capitalization exceeded 44 trillion yen (approximately 300 billion dollars) during trading. At the same time, Toyota's value was estimated at nearly 43 trillion yen. Although the lead did not last long and Toyota regained its position, this situation is considered an important signal for the Japanese stock market.

Analysts attribute the rapid growth of Kioxia shares to the ongoing boom surrounding AI technologies. The development of AI services like ChatGPT, cloud platforms, and large data centers is sharply increasing the demand for memory devices, which has become a major source of revenue for NAND storage manufacturers.

Kioxia was formed in 2018 as a result of the spin-off of the memory manufacturing business from Toshiba. It is worth noting that the growth of the technology sector is being observed worldwide — previously, the lithography equipment manufacturer ASML also became Europe's most valuable brand.