Kioxia Loses U.S. Patent Case, Ordered to Pay $229M on July 16

According to Reuters, a U.S. federal jury ordered Japan's Nand flash memory manufacturer Kioxia Holdings to pay $229 million in damages on July 16 after finding the company infringed on a high-speed data processing patent held by satellite communications firm ViaSat. The patent relates to technology reducing power consumption and extending lifespan in memory semiconductors.

Kioxia's stock fell 16.1% to 52,110 yen on July 17, with its market capitalization dropping to roughly half of its peak value recorded on June 22. The company stated it would pursue all legal options, including appeals.