Kioxia has announced its financial results for the first fiscal quarter of FY 2026, revealing a revenue of JPY 342.8 billion. This marks a modest 1% decrease compared to the previous quarter and a significant 20% drop year-on-year. The company notes that inventory adjustments by PC and smartphone customers are progressing smoothly, while demand for data center and enterprise-level solid-state drives (SSDs) remains robust. Notably, while average selling prices (ASP) declined year-on-year during the quarter, they showed a quarterly increase. In terms of business segments, the SSD and storage segment contributed JPY 217.4 billion, the intelligent device segment accounted for JPY 79 billion, and other businesses amounted to JPY 46.3 billion. All segments experienced year-on-year declines, with the intelligent device segment experiencing the most significant drop. Looking ahead, Kioxia anticipates that demand for data center and enterprise-level storage will remain stable in the second fiscal quarter. Additionally, the company expects shipments of intelligent devices to increase. Consequently, revenue is projected to reach JPY 445 billion, indicating a nearly 30% quarter-on-quarter growth.