On November 13, Kioxia unveiled its financial results for the second quarter of the 2025 fiscal year. The company reported revenue of 448.3 billion yen, marking a sequential increase of 30.8%, yet a year-on-year decrease of 6.8%. Its net profit stood at 40.7 billion yen, a more than 60% drop year-on-year, which fell short of market projections. This disappointing performance was primarily due to two factors: a rise in the proportion of the low-margin smart device business and the transition of some cloud service provider customers from SSD procurement to NAND chips.

Consequently, at the close of the U.S. stock market on November 13, Seagate's stock price plummeted by 7.29%, Western Digital's by 5.39%, and Micron Technology's by 3.25%. On the morning of November 14, when the Japanese stock market opened, Kioxia's stock price took a nosedive, dropping by 23%. Nevertheless, thanks to the ongoing AI boom, Kioxia's stock price has still soared by 477% year-to-date. The company anticipates that its revenue will hit a new peak in the fourth quarter, with profits making a comeback. It also remains upbeat about its long-term outlook.