We’ve talked a lot about Toshiba Memory over the last few years, particularly in 2017, when Toshiba sold off the controlling stake in the company to help stay afloat. Soon, Toshiba Memory will be no more, as the company has announced plans to re-brand.
Toshiba Memory will be rebranded as ‘Kioxia’, which is a combination of the Japanese word ‘Kioku’, meaning memory, and the Greek word ‘axia’, meaning value. The change over will occur in October and is intended to “mark a new era” for the company.
Toshiba Memory Corp. is currently owned by a few companies. Toshiba itself still owned around 40% of shares back in 2017, meanwhile a group of investors led by Bain Capital owns just under 50%. Currently, Toshiba Memory continues to be among the top three memory producers in the world, so a rebrand is a bigger deal than it may seem at first.
If Kioxia ends up going public for stock market investors, then we’ll be seeing some other big changes in the months to come.
KitGuru Says: There is a good meaning behind this new brand name, although it is going to take some getting used to. After all, Toshiba Memory is already very well-known.