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Toshiba Memory will rebrand itself as Kioxia by October this year

By Wong Chung Wee - on 22 Jul 2019, 11:35am

Toshiba Memory will rebrand itself as Kioxia by October this year

Image source: Toshiba Memory

Toshiba Memory Holdings Corporation will change its name to Kioxia Holdings Corporation on 1st October 2019. Its new name Kioxia (kee-ox-ee-uh) is an amalgamation of two roots words in Japanese and Greek respectively, i.e., kioku is Japanese for “memory” and the Greek word for value is “axia”.

According to the management’s statement, Kioxia Holding hopes to “uplift the world with ‘memory’” as our memories make up the “foundation of our vision.” In 2017, Toshiba parent company completed its sale of its memory business to a coalition of companies that include American private equity Bain Capital.

In June 2018, Toshiba Memory Corporation became a fully independent company. Its majority shares of 50.1% remain in the hands of Toshiba and Japanese optical maker Hoya, while Bain Capital’s share holdings make up 49.9% holdings that's held under a Cayman Island registered business entity, BCPE Pangea Cayman, L.P..

With the impending name change, it appears the new firm wants to break away from its Toshiba heritage. The company will also unveil the new branding logo to reflect its name change by the end of the month. Here’s the list of companies that will be affected by the name change.

Image source: Toshiba Memory via BusinessWire

Source: Toshiba Memory Corporation via BusinessWire