Kioxia and Sandisk Extend Yokkaichi Joint Venture Agreement Through 2034

Kioxia and SanDisk jointly announced that they have extended the joint venture agreement at Kioxia's Yokkaichi plant by five years. Originally set to expire on December 31, 2029, the agreement has now been renewed until December 31, 2034. The two parties will continue to leverage AI-enabled smart manufacturing and economies of scale to ensure stable production of advanced 3D flash memory. Additionally, the joint venture agreement for Kioxia's Kitakami plant is aligned with the Yokkaichi agreement through December 31, 2034. As part of this renewed agreement, SanDisk will pay Kioxia $1.165 billion for manufacturing services and continued availability of supply. These cash payments will be made in installments over the years 2026 to 2029.