Kioxia, Sandisk extend Yokkaichi JV agreement through 2034

Kioxia Corporation, a subsidiary of Kioxia Holdings Corporation (KXHCF), and Sandisk Corporation (SNDK) announced the extension of their joint venture agreements at Kioxia’s Yokkaichi Plant for an additional five years. Originally set to expire on December 31, 2029, the agreement will now run through December 31, 2034. As part of this renewed agreement, Sandisk will pay Kioxia $1.165B for manufacturing services and continued availability of supply. These cash payments will be made in installments over the years 2026 to 2029. “We are delighted to deepen our strategic partnership with Sandisk. We view this agreement not only recognizes the value of Kioxia’s manufacturing operation, but also strengthens its profitability by leveraging economies of scale at the world’s largest flash memory manufacturing facilities. By continuing to collaborate with Sandisk, we remain committed to delivering high quality flash memory products that drive the transformation of a digital society powered by AI,” said Nobuo Hayasaka, President and CEO of Kioxia.