Kioxia and Western Digital’s Joint Venture To Receive Up To 150 Billion Yen Government Subsidy for Yokkaichi and Kitakami Plants
February 05 2024 - 10:00PM
Business Wire
Kioxia Corporation and Western Digital Corporation (NASDAQ: WDC)
announced today that their joint venture manufacturing facilities
at Yokkaichi and Kitakami plants have been approved to receive an
up to 150 billion yen subsidy, including facilities that will
produce its latest generation of 3D flash memory based on the
innovative wafer bonding technology and future generation advanced
nodes. The subsidy will be granted under a designated government
program aimed at facilitating corporate investment in cutting-edge
semiconductor production facilities and securing stable production
of semiconductors in Japan. This marks the second time that
Kioxia’s and Western Digital’s joint venture manufacturing
facilities are receiving this subsidy from the Japanese government.
Previously, the joint venture manufacturing facility at Yokkaichi
was approved to receive up to 92.9 billion yen subsidy from the
Japanese government in 2022.
Leveraging an over 20-year joint venture partnership, Kioxia and
Western Digital will continue to enhance the development and
production capabilities of cutting-edge flash memory at the
Yokkaichi and Kitakami plants in Japan. In addition, the two
companies will contribute to the development of
semiconductor-related industries and talent.
“We appreciate the support of the Japanese government and will
continue to produce cutting-edge flash memory, which is
indispensable for technologies that underpin the expanding digital
transformation of society. With this subsidy, we will continue to
contribute to the advancement of the semiconductor industry and the
development of local and domestic economies,” said Nobuo Hayasaka,
President and CEO of Kioxia.
David Goeckeler, CEO of Western Digital said, “We thank the
Japanese government for their ongoing and unwavering commitment to
our joint venture flash memory manufacturing facilities in Japan
and our long track record of innovations in the NAND flash
industry. This support recognizes the important role of advanced
memory and data storage technologies in addressing a diverse and
growing set of data-driven applications.”
Kioxia and Western Digital have the longest and most successful
joint venture partnership in the semiconductor industry, creating
category-defining products such as the 3D flash memory.
About Kioxia
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.
About Western Digital
Western Digital is on a mission to unlock the potential of data
by harnessing the possibility to use it. With Flash and HDD
franchises, underpinned by advancements in memory technologies, we
create breakthrough innovations and powerful data storage solutions
that enable the world to actualize its aspirations. Core to our
values, we recognize the urgency to combat climate change and have
committed to ambitious carbon reduction goals approved by the
Science Based Targets initiative. Learn more about Western Digital
and the Western Digital®, SanDisk® and WD® brands at
www.westerndigital.com.
©2024 Western Digital Corporation or its affiliates. All rights
reserved. Western Digital, the Western Digital design, the Western
Digital logo are registered trademarks or trademarks of Western
Digital Corporation or its affiliates in the US and/or other
countries. All other marks the property of their respective
owners.
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Kioxia Contacts: kioxia-hd-pr@kioxia.com
Western Digital Contacts: Investors: investor@wdc.com
Media: WD.Mediainquiries@wdc.com
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