Kioxia Becomes Japan's Most Valuable Company as AI Demand Drives Semiconductor Boom
Memory chipmaker Kioxia Holdings surpassed Toyota Motor to become Japan's largest company by market capitalization, with shares rising 7.6% on Friday to reach ¥44 trillion ($274 billion). The shift reflects global investor appetite for semiconductor companies benefiting from AI data center demand, just 18 months after Kioxia's stock market debut. This reshuffling underscores how the artificial intelligence boom is fundamentally altering Japan's corporate hierarchy and investment priorities.
Kioxia Holdings, a Japanese memory chipmaker, has replaced Toyota Motor as Japan's most valuable company by market capitalization following a 7.6% share surge on Friday. The company's market value now exceeds ¥44 trillion ($274 billion), while Toyota closed at ¥43.8 trillion. This milestone comes just 18 months after Kioxia's initial public offering and reflects the dramatic reshaping of Japan's corporate landscape driven by global artificial intelligence demand. Kioxia has surged more than 670% in 2026, making it the best performer on the MSCI World Index. The shift highlights investors' growing preference for semiconductor manufacturers as demand for chips used in AI data centers climbs worldwide, with Toyota having earlier briefly lost its top position to SoftBank Group as well.
What different sources said
- The Japan TimesCenter
Kioxia becomes Japan’s most valuable firm as AI mania goes on
- BloombergCenter
Kioxia Becomes Japan’s Most Valuable Firm as AI Mania Goes On
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