The sale of most of its holding in the Japanese memory chip maker would rank among the country’s biggest private equity returns, with Toshiba and SK Hynix emerging as top shareholders afterward.
Bain Capital is expected to generate about ¥2.5 trillion in investment profit from selling most of its stake in Japanese memory chip maker Kioxia, in a transaction that would stand as one of Japan’s largest private equity payoffs. After the sale, Toshiba is set to become Kioxia’s largest shareholder with about 15%, while SK Hynix would be the de facto second-largest holder with about 14% through SPC (special purpose company) convertible bonds, subject to antitrust approvals.