**[JPMorgan: Kioxia Achieves Record Q1 Profit, Maximum ¥800 Billion Share Buyback Boosts Stock Sentiment]** BlockBeats News, August 3 — JPMorgan released a report stating that Japanese storage stock Kioxia achieved record-breaking Q1 performance, with sales reaching ¥1.7671 trillion, a year-on-year increase of 415% and a quarter-on-quarter increase of 76%. Non-GAAP operating profit reached ¥1.3262 trillion, a year-on-year increase of 2833% and a quarter-on-quarter increase of 121%, with the operating profit margin rising to 75%. The report noted that Kioxia's Q1 performance was primarily driven by price increases, with ASP (average selling price) rising approximately 70% quarter-on-quarter, while bit shipment volume saw low single-digit growth quarter-on-quarter. By segment, SSD and storage business sales reached ¥1.1747 trillion, a year-on-year increase of 440% and a quarter-on-quarter increase of 96%, accounting for 66% of total revenue. Among this, data center and enterprise-level business contributed over 60% of the segment's revenue. Looking ahead to Q2, Kioxia forecasts revenue of ¥2.39 trillion and Non-GAAP operating profit of ¥1.9 trillion, with the operating profit margin expected to rise to 79.5%. The company anticipates Q2 revenue to grow 35% quarter-on-quarter, continuing to be driven by ASP increases, while demand from data centers and enterprise-level businesses remains strong. JPMorgan believes that the ramp-up trend in Kioxia's enterprise-level SSD sales remains a key observation point. The company also announced a maximum ¥800 billion share buyback, which is expected to support stock sentiment. JPMorgan maintains an "Overweight" rating for Kioxia, with a target price of ¥155,000.