SK Hynix Becomes De Facto Second Largest Shareholder in Japanese Competitor Kioxia

Following Bain Capital's sale of most of its shares in Kioxia, SK Hynix has emerged as the de facto second-largest shareholder, though it lacks voting rights due to not having converted its convertible bonds. Regulatory approval from competition authorities in South Korea and Japan remains critical for the transaction's finalization, with SK Hynix also pledging not to hold over 15% of voting rights by 2028.