[SK Hynix Becomes Kioxia's Largest Shareholder Indirectly Through SPC2, Holding 14.19% Stake] BlockBeats News, August 11: SK Hynix, through its investment in the special purpose company SPC2, has indirectly become the largest shareholder of Japanese NAND manufacturer Kioxia. Kioxia disclosed that its largest shareholder has changed from Toshiba to BCPE Pangea Cayman2 (SPC2), which currently holds a 14.19% stake in Kioxia. Previously, Toshiba held a 15.10% stake in Kioxia, but after selling shares in seven transactions between July 15 and August 3, its stake dropped to 14.06%, falling below SPC2's 14.19%. In 2018, SK Hynix invested approximately 4 trillion KRW in Kioxia through two SPCs, with SPC2 continuing to hold an investment of about 1.3 trillion KRW, made through convertible bonds. If the related convertible bonds are converted into shares, SK Hynix could become a shareholder with voting rights in Kioxia. However, for SK Hynix to obtain voting rights, it would still need approval from competition law and antitrust regulators in various countries. Additionally, the Japanese government, from the perspective of protecting its domestic semiconductor supply chain, may not grant approval. Therefore, the likelihood of SK Hynix directly influencing Kioxia's operations remains low at present. Kioxia is Japan's largest NAND manufacturer and currently ranks third globally in NAND market share, following Samsung Electronics and SK Hynix. [Original Link]