TOKYO, Nov 14 (Reuters) - Japan's Kioxia on Tuesday reported a 100.8 billion yen ($664.5 million) operating loss in the second quarter as earnings were hit by an ongoing slump in demand for memory chips used in smartphones and PCs.
The result at Bain Capital-backed Kioxia, formerly Toshiba Memory, compares with a loss of 130.8 billion yen three months earlier.
Makers of memory chips have been struggling with slumping demand since the COVID pandemic, with the market awash with supply and growing pressure for the industry to consolidate.
($1 = 151.7000 yen) (Reporting by Sam Nussey; Editing by Tom Hogue)
