BlockBeats News, July 31. Today, Kioxia of Japan released its financial report for the first quarter, with a net profit of ¥842.17 billion, compared to ¥18.28 billion in the same period last year. The market expectation was ¥973.81 billion. The first-quarter net profit fell short of market expectations.

Driven by AI, the demand for NAND flash memory remains strong. Kioxia's profitability is still at a historical high. However, this performance is below market expectations, reflecting that the market had already fully priced in the AI storage boom. The short-term investor sentiment may have cooled down. In the future, attention still needs to be paid to the company's full-year performance guidance and the impact of NAND supply and demand changes on profitability.