Kioxia: Fiscal 3Q21 Financial Results

Kioxia Holdings Corp. announces 3FQ21 financial results for the period ended December 21, 2021.

3FQ21 was another record revenue quarter.

Data center/enterprise SSD shipments remained solid, and smartphone shipments stayed high because of its peak seasonality. This was offset by the decline of client SSD shipments due to component shortages in the PC supply chain, ultimately resulting in a quarterly decline in total shipments.

Overall ASP was flat this quarter, as price declines on a dollar basis were offset by a weaker yen.

Industry/market trends and outlook
• Demand for data center/enterprise SSDs is expected to remain solid, as investment levels are expected to continue for cloud and enterprise IT systems.
• Demand for client SSDs is expected to remain robust as the PC production impact from component shortages is beginning to ease.
• In the long-term, demand for smartphones is expected to continue growing, driven by increasing demand for mobile storage and the 5G transition, with seasonal fluctuations in the short term.
• The industry continues to monitor the impacts of component supply constraints and the COVID pandemic on customer demand and production across the supply chain.
• In the longer term horizon, industry experts remain confident in the growth potential of the NAND market and the underlying demand drivers.