Kioxia to Complete Acquisition of Chubu Toshiba Engineering
TOKYO--(Business Wire / Korea Newswire) June 02, 2022 -- Kioxia Holdings Corporation, the world leader in memory solutions, announced today that it completed the acquisition of Chubu Toshiba Engineering Corporation. The company entered into a share purchase agreement with Toshiba Digital Solutions Corporation (a subsidiary of Toshiba Corporation) on February 24, 2022, in connection with the acquisition to further strengthen Kioxia Group’s technology development capabilities.
This acquisition brings in-house a highly experienced engineering team while also enabling cost efficiencies, which together will improve the enterprise value of the company. The acquisition will enhance Kioxia’s technology development capabilities, as well as deliver synergies across the design, operation and production of its manufacturing plants.
Going forward, Chubu Toshiba Engineering Corporation will operate as a wholly owned subsidiary of Kioxia Corporation under the name of Kioxia Engineering Corporation.
Kioxia is cultivating a new era of memory with its world class solutions, as it strives towards the mission of “uplifting the world with memory”. The company remains committed to developing initiatives to strengthen the competitiveness of its memory and SSD business.
About Kioxia Engineering Corporation
Headquarters: Nagoya City, Aichi Prefecture, Japan
Representative: Kunio Yamada, President
Founded: February 1, 1992
Outline of Business:
· Engineering services related to semiconductor development, design and manufacturing
· Development and operation of semiconductor CIM systems
Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with memory by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers.
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Kioxia Holdings Corporation
This is a news release distributed by Korea Newswire on behalf of this company.