Cautious capital expenditures, Kioxia's market value has exceeded 50 trillion yen, but its investment plan for the fiscal year has decreased by 10% compared to its peak in 2023 Odaily Planet Daily News: AI investor 루 팡 stated in an article on X platform that Kioxia's market value has recently exceeded 50 trillion yen, but its future capital expenditures are still cautious compared to the past. Kioxia plans to invest an average of 470 billion yen annually from fiscal year 2026 to 2028, a 66% increase from 2025 but about 10% lower than the historical high of 510.4 billion yen in fiscal year 2023. In 2022, Kioxia invested 1 trillion yen in a factory in Yokkaichi, but subsequently suffered losses for five consecutive quarters due to declining demand. Currently, its focus is on cash flow management around the Kitakami factory. The current NAND market is in an upward cycle, with contract prices rising by 70% to 75% month on month in the second quarter of 2026, exacerbating supply shortages. Kioxia plans to convert 50% of its total shipments into long-term supply agreements by 2028 to establish a stable revenue base. After Kioxia restricts market supply, Samsung Electronics and SK hynix may have relevant opportunities, and Korean NAND process materials, components, and equipment companies may also benefit. SK hynix's consortium still holds 18% of Kioxia's shares, and as Kioxia's corporate value increases, SK hynix's potential investment returns may expand.