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Kioxia Plans 3-for-1 Stock Split to Lower Investment Unit

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Memory chip maker Kioxia (TYO:285A) plans a three-for-one stock split effective Oct. 1, with a record date of Sept. 30, to lower the amount per investment unit and expand the company's investor base.

Following the split, total outstanding shares will increase from 548 million to 1.64 billion shares, while total authorized shares will rise from 2.07 billion to 6.21 billion shares, according to a bourse filing on Friday.

The company will also partially amend its articles of incorporation to reflect the increase in authorized shares, effective Oct. 1.

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