Kioxia Holdings Corporation has conveyed plans to build a new semiconductor plant in Kitakami, Iwate Prefecture, and outlined a policy of investing approximately ¥1.8 trillion at the site. The company also released a forecast that memory demand will rise as generative AI becomes more widespread.
Kioxia, which produces semiconductor memory, has outlined plans to invest approximately ¥1.8 trillion in the site of its third plant, to be newly built in Kitakami, Iwate Prefecture. The new plant is expected to produce flash memory for data storage.
Kioxia President Hiroo Ota (太田裕雄) visited Prime Minister Takaichi (高市) today to convey the plan to build the new plant and outlined a policy of investing approximately ¥5 trillion together with SanDisk by 2032.
The government has designated semiconductors as a priority area in its growth strategy and is promoting increased domestic investment. President Ota reportedly asked the government to help increase tax revenues and contribute to regional revitalization.