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| (Photo = SK hynix) |
[Alpha Biz=(Chicago) Reporter Paul Lee] SK Hynix invested about 4 trillion won in KIOXIA in 2018 to participate in the Korea-U.S.-Japan consortium led by Bain Capital, a U.S. private equity fund. Of these, 2.7 trillion won participated as an investor (LP) in a private equity fund created by Bain Capital. The rest acquired KRW 1.3 trillion worth of convertible bonds (CB) issued by Toshiba Memory at the time.
According to SK Hynix's audit report last year on the 14th, the company suffered an valuation loss of 1.6558 trillion won on KIOXIA investment assets last year.
In 2020, it recorded an valuation profit of 1.6683 trillion won, but decreased to 371.9 billion won in 2021. In 2022, the company entered a negative profit and loss range with a loss of 1.882 trillion won, which is a burden on its overall performance as it is caught as a non-operating loss.
SK Hynix's investment in Kioxya is a financial investor, and exit (recovery of investment) has been the top priority since KIOXIA's initial public offering (IPO). However, as NAND industry is in recession and KIOXIA's poor performance is prolonged, it is difficult for a single IPO.
Currently, KIOXIA valuation assets are 3.63 trillion won, which is lower than the purchase price of 400 million won, making simple disposal difficult.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
