Japan's Kioxia Loses U.S. Patent Lawsuit, Ordered to Pay Damages Worth 340 Billion Won

[Financial News] Kioxia Holdings Corporation, a Japanese NAND flash memory maker, has reportedly lost a patent infringement lawsuit in the United States and been ordered to pay damages of about 340 billion won ($229 million). The suit was filed by U.S. satellite communications company ViaSat in 2021, alleging that some Kioxia products infringed patents related to its high-speed data processing technology.
According to foreign media reports on the 18th, a jury at a U.S. federal district court in Texas sided with the plaintiff on the 16th local time. Kioxia said it would pursue legal options, including an appeal, but its stock fell sharply after the news of the loss.
Kioxia closed at 52,110 yen, down 16.1% from the previous day, on the Tokyo stock market. Its market capitalization stood at 28.5168 trillion yen, or about 261.2 trillion won, less than half of its peak on the 22nd of last month. The Nikkei 225 Average also closed down 4% from the previous day at 64,141, its lowest level since the 8th of last month.

kjh0109@fnnews.com Kwon Jun-ho Reporter