The largest shareholder of Kioxia Holdings Co., Ltd. is an investment vehicle, and the shares held by this entity are claimed by rival SK Hynix. Kioxia issued a statement on Tuesday saying that as of August 3, Toshiba, the flash memory manufacturer's former parent company, had reduced its Kioxia shares from 14.48% to about 14.12%. As a result, BCPE Pangea Cayman2, established by Bain Capital, became the largest shareholder of this Japanese chip company with a 14.19% shareholding ratio. According to Kioxia's annual report, South Korea's SK Hynix holds a convertible bond, which can obtain “almost all” voting rights for BCPE Pangea Cayman 2. In its annual report, the Japanese company clearly listed SK Hynix's claim as a risk factor, saying it could cause a conflict of interest. SK Hynix participated in the acquisition of Kioxia by a consortium led by Bain Capital in 2018. As part of the terms of the deal, SK Hynix promised that until 2028, it will hold no more than 15% of Kioxia's voting rights until 2028, unless it obtains permission from the Japanese chip company.

The largest shareholder of Kioxia Holdings Co., Ltd. is an investment vehicle, and the shares held by this entity are claimed by rival SK Hynix. Kioxia issued a statement on Tuesday saying that as of August 3, Toshiba, the flash memory manufacturer's former parent company, had reduced its Kioxia shares from 14.48% to about 14.12%. As a result, BCPE Pangea Cayman2, established by Bain Capital, became the largest shareholder of this Japanese chip company with a 14.19% shareholding ratio. According to Kioxia's annual report, South Korea's SK Hynix holds a convertible bond, which can obtain “almost all” voting rights for BCPE Pangea Cayman 2. In its annual report, the Japanese company clearly listed SK Hynix's claim as a risk factor, saying it could cause a conflict of interest. SK Hynix participated in the acquisition of Kioxia by a consortium led by Bain Capital in 2018. As part of the terms of the deal, SK Hynix promised that until 2028, it will hold no more than 15% of Kioxia's voting rights until 2028, unless it obtains permission from the Japanese chip company.