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Armor Man's New Factory Delayed Until Next Year Due to Weak 3D NAND Flash Demand

Update time : 2023-08-04 10:38:13

Kioxia, a memory maker based in Japan's Iwate Prefecture, is reportedly building its second NAND flash memory plant due to falling global demand for 3D NAND flash. The plant, which is located in Kitakami, was originally scheduled to be completed in 2023, but the completion date has been pushed back to 2024 due to weakening demand for 3D NAND in the market.

According to Japanese media outlets Iwate Daily and TBS News Dig, Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura inspected Armor Man's plant in Kitakami, Iwate Prefecture on July 29 this year. Since fiscal year 2021 (April 2021 to March 2022), Armor Man has received 10 billion yen (about $72 million) in subsidies from the Japanese government for the expansion of the Kitakami plant.
Construction of the Y2 (second) plant began in April 2022. Armor Man said that the exact completion and start-up of Y2 has not yet been determined, and that production start-up will be decided based on market conditions.
Demand for NAND flash memory used in smartphones and personal computers had increased during the epidemic, but the market trend reversed by 2022. Beginning in October 2022, Armor Man's first plant in Kitakami City (Y1) and the plant in Yokkaichi City, Mie Prefecture, Japan, reduced production by 30%.
Other memory makers such as Samsung Electronics, SK Hynix, and Micron Technology are also cutting capacity. However, the impact of the production cuts has not materialized as expected, and it will take some time to reduce inventories in the memory supply chain.

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