Tokyo, June 3 (Jiji Press)–Kioxia Holdings Corp. briefly surpassed Toyota Motor Corp. in market capitalization on the Tokyo Stock Exchange on Wednesday, ranking second among Japanese companies behind SoftBank Group Corp. The semiconductor memory company’s stock price has been driven by demand for artificial intelligence data centers. Shortly after 9 a.m., Kioxia’s shares hit a record intraday high of 83,140 yen, with its market capitalization swelling to 45,422.6 billion yen and surpassing Toyota’s by about 370 billion yen. On a closing price basis, Kioxia’s market capitalization stood at 42,658.1 billion yen, falling below Toyota’s 45,505.3 billion yen. END [Copyright The Jiji Press, Ltd.]
Kioxia Briefly Surpasses Toyota in Market Value
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