Kioxia earnings for July to September 2026 show its SSD business growing 38% in one quarter, mainly because selling prices rose on data center demand. Kioxia expects October to December to be about flat at that level. For enterprise SSD buyers that means no price relief this year. Quote KCMYXRUG3T84 and other Gen5 drives now and plan 2027 refreshes early.
What Kioxia reported on 30 October 2026
Kioxia Holdings published results for its fiscal second quarter, July to September 2026, on 30 October 2026. Revenue was 2,480.0 billion yen, up from 1,767.1 billion yen in April to June. Operating profit was 1,994.7 billion yen.
Kioxia splits revenue by application. The SSD & Storage line, which covers SSDs for PCs, data centers and enterprises, brought in 1,616.0 billion yen, up from 1,174.7 billion yen the quarter before. That is a 38% rise in three months, and about two thirds of total revenue.
For the first half of its fiscal year, April to September 2026, SSD & Storage revenue was 2,790.7 billion yen. In the same six months of 2025 it was 462.0 billion yen.
Why revenue rose: price first, then volume
The release gives the reason in plain terms. Revenue grew "primarily due to a significant increase in average selling prices" from data center customers focused on generative AI, plus higher bit shipments.
Kioxia also describes where demand is going. Demand from smartphone and PC customers is trending down, while demand for AI servers at data centers and enterprise customers keeps rising. So more of Kioxia's flash is heading to the same server and storage drives that resellers and IT buyers quote every week.
The outlook for October to December 2026
Kioxia guides one quarter ahead. For October to December 2026 it expects revenue of 2,500.0 billion yen and operating profit of 1,995.0 billion yen, both close to the second quarter. The release says data center demand should stay strong and that a weaker exchange rate effect keeps the quarter broadly flat. The forecast assumes 157 yen to the dollar, against 161 yen in July to September.
Kioxia does not publish an SSD price forecast in this release. A flat revenue outlook after a quarter driven by higher prices suggests prices will hold at the new level. Nothing in this report supports waiting for enterprise SSD prices to ease before year end.
Kioxia also said on 30 October 2026 that Kioxia Corporation will absorb its subsidiary Kioxia Iwate on 1 April 2027, to build manufacturing scale for its newest flash products. That is a 2027 change and does nothing for supply this quarter.
What this means for enterprise SSD buyers
Kioxia enterprise drives ship in OEM servers under HPE and Lenovo part numbers, so its pricing feeds into server quotes. The drives we track that are most exposed:
| Part number | Drive | Notes |
|---|---|---|
| KCMYXRUG3T84 | CM7-R 3.84TB, PCIe Gen5 U.3, 1 DWPD | Fits ThinkSystem SR650 V3 |
| KCMYXRUG1T92 | CM7-R 1.92TB, PCIe Gen5 U.3, 1 DWPD | Same family, smaller capacity |
| P63829-B21 | HPE 1.92TB NVMe RI U.3, CM7 based | Fits ProLiant DL380 Gen11 |
| KCM6XRUL3T84 | CM6-R 3.84TB, PCIe Gen4 U.3 | Older Gen4 platforms |
| KCD6XRUL1T92 | CD6-R 1.92TB, PCIe Gen4 U.3 | Data center class, Gen4 |
What we would do with these numbers:
- Quote current Gen5 builds now. If a project uses CM7 class drives, get written quotes with a validity date.
- Look at the Gen4 drives for refurbished and spares work. CM6 and CD6 parts still fit many Gen4 servers, and the used channel is where buyers can still find options. Check remaining endurance (SMART wear level) before you buy.
- Book 2027 storage refreshes early. Kioxia says the growth is coming from data center and enterprise AI server demand, and smaller buyers without a supply agreement compete with those orders for high capacity drives.
Our part pages show listings with the date they were seen. Treat them as a reference point and get a dated quote before you commit.
New Kioxia drives that matter for 2027 servers
Two October launches show where Kioxia's data center line is heading.
On 9 October 2026 Kioxia announced the LD4 Series, its first E1.L SSD, built on BiCS FLASH generation 8 QLC. It targets dense 1U servers and read intensive storage. Launch capacities are 15.36TB and 30.72TB, with an architecture validated up to 122.88TB. It runs PCIe 5.0 at Gen4 x4 speeds, is single port, and is sampling to select customers.
On 13 October 2026 Kioxia added direct liquid cooling models to its CM9 Series. The CM9-DLC drives are E3.S, dual port, PCIe 5.0, with capacities up to 30.72TB at 1 DWPD and 25.6TB at 3 DWPD. Kioxia rates them at up to 14.8 GB/s sequential read. They also work in air cooled servers, and they are sampling too.
Neither drive is shipping in volume yet. They show where Kioxia aims its newest capacity first: hyperscale E1.L and liquid cooled AI servers. In standard 2U servers, the U.3 drives above will stay the volume choice for a while.
How this fits with the memory market
The same story is playing out in DRAM. SK hynix reported on 28 October 2026 that its long term contracts cover more than half of its 2027 and 2028 capacity. We covered that in SK hynix sold out to 2029: server memory price in 2027. Hard drives are tight as well, see our hard drive shortage 2026 post. Memory, flash and disk are all tight at the same time, so a full server quote in late 2026 is exposed on three lines at once.
FAQ
### When was the Kioxia earnings report released? Kioxia Holdings released its results for the quarter ended 30 September 2026 on 30 October 2026, at 18:45 Japan time.
### Did Kioxia say SSD prices will go up again? The release does not give a price forecast. It says second quarter revenue grew mainly on higher average selling prices and expects the next quarter to be about flat.
### Which Kioxia enterprise SSDs are in HPE and Lenovo servers? CM7 drives appear in HPE U.3 parts such as P63829-B21, and Kioxia branded CM7-R and CM6-R drives are listed for Lenovo ThinkSystem servers. Check the compatibility list on each part page.
### Is the Kioxia LD4 E1.L SSD available to buy? Not in volume. Kioxia said on 9 October 2026 that LD4 drives are sampling to select customers.
### Should I wait for enterprise SSD prices to fall? Nothing in Kioxia's 30 October 2026 report points to a fall this year. If a project is approved, getting quotes now is the safer choice.
