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After Western Digital and Kioxia merge their memory business, the new company is set to list shares in the US and Japan.

Published: 2023-01-21

The restructuring of Western Digital Corporation, which implies the separation of the solid-state memory business, has long been discussed at the level of rumors. A deal with Kioxia could take place in the coming months and create a combined company with shares in both the US and Japan. Representatives of Western Digital will manage the business.

Negotiations between the participants in a potential deal, according to the source, are moving forward, although it is too early to talk about its final structure. At this stage, it is assumed that WDC's solid-state memory business will be structurally separated from the American corporation and will be merged with the assets of Kioxia. Shares of the combined company will enter the stock market in both the US and Japan, but with some delay in time.

An alliance between WDC and Kioxia was already discussed in 2021, but then no specific agreements could be reached. Now the solid-state memory business is going through hard times: prices and demand have fallen, but this may encourage a merger of companies on more favorable terms. The combination of the assets of these companies will create the world's second largest manufacturer of solid-state memory after Samsung. Kioxia and Western Digital now have a flash memory joint venture in Japan, so the two companies have had to interact in one way or another over the years.