On July 18, Toshiba Memory Holdings Corporation announced that it will be officially renamed Kioxia Holdings Corporation on October 1, 2019. At the same time, Kioxia will be adopted as the name of all Toshiba storage companies on the same date.
Kioxia is a combination of the Japanese word kioku and the Greek word axia, kioku means "memory" and axia means "value".
“I am delighted to take the next step in our company’s evolution as we continue to enhance our position at the forefront of the memory industry,” said Stacy J. Smith, executive chairman of Toshiba Memory Holdings Corporation. “Using ‘memory’ as our starting point, Kioxia will collaborate with people to meet the various needs of everyday life, making the world more interesting and providing long-lasting value to society.”
On June 1, last year, Toshiba sold 100% of Toshiba Memory to Pangea, a company acquired by Bain Capital's corporate alliance, for about 2.3 trillion yen. Later, Toshiba re-financed Pangea, acquiring 40.2% of the shares (equivalent to holding 40.2% of TMC), and another Japanese company Hoya also obtained 9.9% of shares. Now, the Japanese side owns more than half of Pangea.
The following are the new names that TMC related companies will use after the name change:
