Kioxia and Western Digital's joint venture manufacturing facilities in Yokkaichi and Kitakami have been approved for up to JPY150 billion (US$1 billion) in government subsidies.

Japan's Kioxia on Tuesday reported a JPY100.8 billion (US$664.5 million) operating loss in the second quarter as earnings were hit by a slump in demand for memory chips used in smartphones and personal computers (PC).

Western Digital has restarted talks with Japan's Kioxia in a deal that could unite two technology storage providers, according to people familiar with the matter.

A powerful 7.4 magnitude earthquake struck off the coast of Fukushima in northern Japan on Wednesday night, smashing furniture, knocking out power and killing four people. A small tsunami reached shore, but the low-risk advisory was lifted by Thursday morning.

Western Digital is in advanced talks to merge with Japan's Kioxia Holdings, according to people familiar with the matter, in a deal that could be valued at more than US$20 billion and further reorder the global chip industry.

Japan's Kioxia Holdings, the world's second largest maker of flash memory chips and formerly known as Toshiba Memory, plans an initial public offering as early as September, weekly financial magazine Diamond reported on Thursday.

With the market for flash memory only expected to grow, Western Digital CEO David Goeckeler says the US chipmaker sees Japan's Kioxia Holdings as a long-term partner that is key to staying competitive against big Asian rivals.

Micron Technology and Western Digital are each exploring a potential deal for Kioxia Holdings that could value the Japanese semiconductor company at around US$30 billion, according to people familiar with the matter.

Exclusive: License to bypass ban brightens outlook for delayed IPO

Sony and chipmaker Kioxia are seeking US approval to export semiconductors to Huawei Technologies despite Washington's imposition of sanctions on the Chinese telecom giant, sources familiar with the situation said Monday.

Japan's Sony and memory chipmaker Kioxia have applied for U.S. approval to continue supplying Huawei, Nikkei reported on Sunday.

Kioxia, the world's second-largest maker of flash memory chips, on Monday postponed plans for what would have been Japan's largest initial public offering (IPO) this year, as U.S-China tensions cloud the global chip market.

Kioxia Holdings, the world's second-largest maker of flash memory chips, warned on Thursday that tighter U.S. restrictions on Huawei could cause memory chip oversupply and drive down market prices.

Kioxia Holdings, the world's second-largest maker of flash memory chips, will list on the Tokyo Stock Exchange on Oct. 6 in an initial public offering worth up to $3.6 billion, a regulatory filing showed on Thursday.

Japan's Toshiba Corp said on Monday it planned to sell down its 40.2% stake in flash memory chips firm Kioxia Holdings and will return a majority of the net proceeds to shareholders.

A Hong Kong-based activist investor in Toshiba has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters.