SK hynix also owns Solidigm, the US-based subsidiary created after its 2021 acquisition of Intel’s NAND and solid-state drive business. The latest shareholder shift, however, does not give SK hynix an immediate role in Kioxia’s management. On a simple combined basis, SK hynix and Kioxia accounted for 31.5 percent of the market, just 0.1 percentage point behind Samsung. Industry watchers expect SK hynix to hold on to the convertible bonds for the time being rather than move quickly to secure voting rights. SK hynix is also understood to be weighing how best to use its Kioxia-related investment going forward.