Kioxia: Fiscal 4Q21 Financial Results

(in ¥ billion)	3Q21	4Q21	FY20	FY21
Revenue	402.7	393.8	1,179	1,527
*Growth*		-10%		*30%*
Net income (loss)	38.2	10.7	(24.5)	105.9

Kioxia Holdings Corp. announced its financial results for FY21 ended March 31, 2022.

It achieved record revenue in this fiscal year, as sales for data center/enterprise SSDs grew supported by investments in cloud and enterprise IT systems, and sales for smartphones were growing.

Stable sales pricing and improved production efficiency from the technology transition to 5th gen BiCS FLASH contributed to Y/Y improvement in operating income from FY20.

The increase in shipments for data center/enterprise SSDs was partially offset by the seasonal decline of smartphone shipments, ultimately resulting in a quarterly increase in total shipments.

With the balanced supply/demand in NAND market, overall ASPs were flat in the quarter.

Kioxia Fy21 F1

The company has around 14,200 employees on a consolidated basis as of March 31, 2022.

Outlook

Demand for data center/enterprise SSDs is expected to remain solid, driven by strong investments for cloud and enterprise IT spending.
Demand for client SSDs is expected to remain robust while some weakness is seen in the consumer market.