Kioxia Q1 Profit Surges 2833%, Announces ¥800B Buyback

Kioxia reports record Q1 operating profit of ¥1.33T, up 2833% YoY, driven by ASP hikes. The firm announces a ¥800B share buyback and guides for higher Q2 margins.

Woofun AI data shows that Kioxia reported record first-quarter results, with sales reaching ¥1.7671 trillion, a 415% year-on-year increase. Non-GAAP operating profit hit ¥1.3262 trillion, rising 2833% year-on-year to achieve a 75% margin, primarily driven by a 70% quarter-on-quarter ASP increase. SSD and storage sales accounted for 66% of total revenue, with data center and enterprise segments comprising over 60% of that sector.

The company guided second-quarter revenue at ¥2.39 trillion and operating profit at ¥1.9 trillion, expecting a 79.5% margin. Kioxia announced a share buyback program of up to ¥800 billion. JPMorgan maintains a "Neutral" rating with a target price of ¥155,000, citing the enterprise SSD ramp-up as a key observation point.