Chipmaker Kioxia overtakes Toyota as Japan’s most valuable firm as AI mania goes on

Kioxia replaces Toyota as Japan's largest company by market value

Kioxia (ex-Toshiba, IPO $5.2B Dec 2024) briefly became Japan's most valuable company on June 3 at ¥45T; +3,500% since IPO. AI-driven NAND flash demand transforms chipmaker margins: Kioxia projects $8.2B operating profit while Samsung and SK Hynix scale capacity.