Kioxia Stock Splits 3-for-1 on October 5 as Tokyo Exchange Pushes Lower Entry Prices

Kioxia (6773.T) completed a 3-for-1 stock split on September 29, 2026, cutting its minimum investment unit from over 530,000 yen to roughly 170,000 yen. The move is part of a historic wave: over 760 Tokyo Exchange-listed firms have split shares since October 2022, with 276 doing so in the past year alone. The Tokyo Exchange explicitly requested splits to make stocks more accessible to retail investors under Japan’s new NISA tax-free investment program launched in 2024.

Why the Tokyo Exchange is pushing stock splits

The Tokyo Exchange set a “desirable investment unit” target of under 500,000 yen in 2022 and on July 28, 2026, formally requested that companies still above that threshold execute splits. By March 31, 2026, 93.4% of listed firms met the target. The exchange aims to lower barriers for retail investors who were priced out as strong earnings and market gains pushed share prices higher. Companies with 100-share minimums costing 3 million yen or more cannot be bought within the new NISA growth investment frame’s 2.4 million yen annual limit.

New NISA accelerates demand for cheaper entry points

Japan’s new NISA, which began in 2024, allows tax-free growth investment of up to 2.4 million yen per year. A stock requiring 3 million yen for a 100-share lot locks out NISA investors entirely. NTT exemplifies the trend: it split 1-for-25 in July 2023, then attracted strong retail interest after NISA launched in 2024. Recent splits target even lower minimums. Companies now view “the price of 100 shares” as critical to shareholder strategy in the NISA era.

Kioxia faces headwinds despite the split

While Kioxia joined the split wave, the semiconductor maker fell to fifth place in global NAND flash memory revenue in Q2 2026, behind Samsung, SK Group, Micron, and China’s YMTC. AI server demand surged NAND prices to record levels, yet Kioxia lagged because it lacks scale in high-margin AI-server SSDs, which make up 43% of its SSD revenue. The split improves retail accessibility but does not address Kioxia’s structural competitive weakness in the booming AI infrastructure market.

Market impact and investor takeaway

Over 50 firms split on September 29 alone, making stock prices appear to drop sharply. Kioxia fell from 53,000+ yen to 17,000 yen, and Tokyo Marine Holdings dropped from 800 yen to under 500 yen. Market capitalization and Nikkei 225 composition remain unchanged because splits do not alter company value. The splits aim to activate retail participation and broaden shareholder bases in a market where strong earnings have priced out smaller investors. For Kioxia specifically, lower entry price helps, but competitive position in memory chips remains the real driver of long-term returns.

Final Thoughts

Kioxia’s 3-for-1 split lowers the barrier to entry but does not fix its Q2 2026 slide to fifth in global NAND revenue. Retail investors should weigh improved accessibility against the company’s structural lag in AI-server SSD demand, where competitors now dominate.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.