Japanese chipmaker Kioxia posts record first-half loss

Japanese flash-memory maker Kioxia Holdings logged a record fiscal first-half loss amid worsening global market conditions.

The company said Tuesday that its net loss for the April-September period was 189 billion yen, or about 1.2 billion dollars. This was the biggest loss for a 6-month period since 2017, when the company's predecessor Toshiba Memory was founded.

Kioxia's earnings suffered as companies cut back on IT-investment, and demand fell for flash memory used in personal computers and smartphones.

Its poor performance also affected the earnings of Japanese electronics maker Toshiba, which holds a 40 percent stake in the firm.

Toshiba reported a net loss of 52 billion yen, or 346 million dollars, for the six months through September.

Merger talks between struggling Kioxia and its US partner Western Digital ended without a deal in October. South Korean chipmaker SK Hynix, an indirect shareholder in Kioxia, reportedly had opposed the merger.