Asia Tech Wire (Nov 8) -- Japanese memory chip maker Kioxia plans to list in Tokyo by June next year, targeting a market capitalization of more than 1 trillion yen.

Kioxia, formerly known as Toshiba Storage, is currently the world's second-largest supplier of NAND flash memory chips, behind South Korea's Samsung Electronics.

Kioxia Holdings Corp. filed a securities registration statement with Japan's Financial Services Agency (FSA) on Friday, saying it seeks an IPO on the Tokyo Stock Exchange between December 2024 and June 2025, targeting a market capitalization of more than 1 trillion yen.

Under Japan's newly established IPO process, companies need to file a securities registration statement with the FSA before the exchange will approve a listing so that they can talk to investors.

Kioxia originally planned to list on the Tokyo Stock Exchange in October 2021, but postponed the plan due to uncertainty in the memory chip market.

The Japanese chipmaker later intended to go public in October of this year, but dropped it due to disagreements between majority shareholder Bain Capital and outside investors.