SK Hynix has become the largest shareholder of Japanese memory chipmaker Kioxia, with its investment vehicle SPC2 holding a 14.19% stake. The position dates back to SK Hynix’s 2018 investment of about 4 trillion won through convertible bonds. Kioxia ranks third globally in NAND memory behind Samsung Electronics and SK Hynix. Toshiba reduced its stake from 15.10% to 14.06% through share sales in July and August, allowing SK Hynix to take the top shareholder position. Despite the larger stake, regulatory and antitrust concerns make direct control of Kioxia unlikely. The move nevertheless gives SK Hynix its largest ownership position in a major rival in the global memory chip market.
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