UBS published a research report indicating that due to the continued tight supply and demand for memory, it has raised its price forecasts for DRAM and NAND for the tenth consecutive month. The price forecast for the quarter ending in September has been raised from a quarter-on-quarter increase of 16% to 32%, while the forecast for the quarter ending in December has been raised from an increase of 10% to 12%. Consequently, the operating profit forecast for Kioxia Holdings (285A.JP) for the fiscal year 2027 has been raised from 7.71 trillion yen to 9.18 trillion yen, and for the fiscal year 2028 from 10.9 trillion yen to 12.9 trillion yen.

UBS pointed out that whether Kioxia can secure a five-year contract has become a market focus. It is expected that future market attention will shift to the progress of negotiations for long-term agreements. Considering the very tight supply and demand situation, it believes the news is likely to be positive, raising the target price from 132,000 yen to 144,000 yen, corresponding to a forecasted book net value per share of 31,075 yen at the end of fiscal year 2029, maintaining a "Buy" rating