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The Tokyo-based maker of NAND flash memory and solid-state drives has become one of the most closely watched stocks on the Tokyo Stock Exchange after a sharp rally tied to demand for data-centre storage, AI servers and high-performance memory systems. Its market capitalisation has climbed into the tens of trillions of yen, placing it near Toyota and behind SoftBank Group in a reshuffled ranking that would have seemed unlikely when Kioxia priced its initial public offering at 1,455 yen a share in December 2024.

The shift marks a wider challenge to the long-standing dominance of Japan’s manufacturing champions. Toyota, the global carmaker that symbolised the strength of Japan Inc. for decades, has been displaced from the top position by SoftBank during the latest AI-led surge, while Kioxia has risen rapidly from a former Toshiba memory unit backed by Bain Capital into a central player in the market’s technology rotation.

Kioxia’s climb reflects investor expectations that memory will remain a bottleneck in AI infrastructure. Generative AI systems require vast amounts of storage and high-speed data movement, pushing demand beyond the older cycle driven mainly by smartphones and personal computers. Data-centre operators, cloud companies and chip designers are competing for components needed to train and run large AI models, giving memory producers stronger pricing power after years of volatility.

The company’s earnings have strengthened sharply. Kioxia has projected operating profit of about 1.3 trillion yen for the April-June quarter, a figure that puts it among the most profitable listed companies in Japan. Its latest annual results showed strong momentum in revenue, margins and cash generation, helping ease earlier concerns about debt and cyclicality. Rating upgrades to investment grade have added to the perception that the balance sheet is improving at a time when investors are rewarding semiconductor exposure.

Kioxia’s origins give its rise broader industrial significance. The company traces its roots to Toshiba’s memory business, which was sold to a Bain-led consortium in 2018 after Toshiba’s financial crisis. The group was renamed Kioxia in 2019, drawing on the Japanese word for memory and the Greek word for value. Its public listing in 2024 valued it below 800 billion yen, after earlier IPO attempts were delayed by weak valuation conditions and pressure in the memory market.

That cautious debut contrasts sharply with its current status. Shares have multiplied as investors reassessed the role of NAND flash in AI systems, especially as large-scale data centres require higher storage density, faster access and more energy-efficient hardware. Kioxia has also been developing advanced BiCS FLASH technology and promoting next-generation SSDs for AI storage infrastructure.

The rally has also lifted questions over valuation risk. Memory chips remain one of the semiconductor industry’s most cyclical segments, with prices exposed to shifts in capital spending, inventory levels and customer demand. A sharp rise in market value leaves Kioxia vulnerable if hyperscaler investment slows, if competitors add capacity faster than expected, or if customers push back against higher pricing.

Competition is intense. Samsung Electronics, SK Hynix, Micron Technology and SanDisk remain key players across memory markets, with SK Hynix holding a dominant position in high-bandwidth memory used in AI accelerators. Kioxia’s strength is more closely tied to NAND flash and SSDs, where demand from AI infrastructure has broadened the market but does not eliminate the risk of oversupply once new capacity comes on stream.

Toyota’s relative decline in the rankings does not point to operational weakness alone. The carmaker remains one of the world’s largest manufacturers by sales and a major profit generator, but investors have been rotating away from traditional industrial leaders towards companies with direct AI exposure. Concerns over electric-vehicle competition, currency movements and the cost of future technologies have weighed on auto valuations, even as Toyota continues to command global scale in hybrid vehicles and supply-chain management.

SoftBank’s ascent has further highlighted the changing market narrative. Its exposure to Arm and AI-related investments has drawn investors seeking Japan-based access to global AI infrastructure. Together, SoftBank and Kioxia now represent a market story centred on chips, data centres, software platforms and computing capacity rather than the export-led industrial model that long defined Japan’s equity market.

Foreign investor flows have amplified the shift. Japan’s equity market has benefited from corporate-governance reforms, stronger capital returns and renewed interest in companies linked to the AI supply chain. The Nikkei 225 has reached record territory, though the rally has been uneven, with gains concentrated in a limited group of technology-linked names while broader market performance has been more mixed.

Kioxia’s next test will be whether it can convert favourable pricing and sold-out capacity into durable earnings. Investors will look for clearer shareholder-return plans, disciplined capital expenditure and evidence that AI storage demand can remain strong beyond the current investment wave. The company’s contemplated US share listing would widen access to global technology investors and could further raise its profile if market conditions remain supportive.

The resort, located on Naka Yai Island off Phuket’s east coast, has completed a series of enhancements designed to strengthen its appeal to affluent leisure travellers seeking privacy, wellness and destination-led experiences. The upgrades cover its Beachside Infinity Pool, villa interiors, spa facilities, restaurants, bar concepts and event spaces, reflecting a broader shift in Phuket’s luxury sector towards secluded, experience-rich stays rather than conventional beach resort offerings.

A central feature of the refresh is the transformed Beachside Infinity Pool, positioned against the Andaman Sea and redesigned as one of the resort’s main visual anchors. Its shape draws on Naka Yai Island and the resort’s own brand identity, while a new deck and cabana area add a stronger leisure component for guests using the beach and pool zones. The redesign gives the property a more defined social space without diluting its private-island positioning.

The villa upgrades are aimed at travellers prioritising seclusion and personal space. The resort has enhanced its private pool villas with updated interiors, bespoke furnishings and fully air-conditioned spa-style bathrooms. The emphasis on private pools in every villa aligns with demand from couples, families and long-haul guests who increasingly favour self-contained accommodation after the pandemic-era shift towards privacy-led luxury travel.

Spa Naka by HARNN has also been expanded from six to eight treatment rooms, adding capacity at a time when wellness remains one of the strongest growth areas in resort hospitality. The spa refresh includes replenished tropical gardens, upgraded pathways and new relaxation areas, reinforcing the property’s pitch as a wellness retreat rather than only a beach escape.

Dining has received equal attention. Aiyara, the resort’s signature restaurant, has been repositioned around Thai cuisine with design cues inspired by the elephant and the country’s cultural heritage. Veranda, the all-day dining venue, focuses on international menus in a beachfront setting, using natural materials such as reclaimed driftwood, rattan and pottery to reflect the surrounding marine environment. Rum Chapel offers Mediterranean flavours, seafood and imported premium ingredients, while Z Bar continues to serve as the sunset venue overlooking the Andaman.

The improvements come as Phuket’s luxury and upscale hotel market remains highly competitive, with resort operators seeking to differentiate through design, privacy, food and wellness. The island continues to attract travellers from Europe, the Middle East, Asia-Pacific and domestic markets, although Thailand’s broader tourism recovery has been uneven. Foreign arrivals rebounded strongly after border restrictions were lifted, but market composition has shifted, with softer Chinese demand and stronger competition from other regional destinations influencing pricing and occupancy.

Thailand welcomed nearly 33 million international visitors in 2025, below the previous year’s level but still among the strongest performances in Southeast Asia. Phuket remained one of the country’s most resilient destinations, supported by direct air links, villa-led accommodation, marine tourism and a mature luxury hospitality base. Upscale properties have benefited from travellers willing to spend more on privacy, wellness, curated activities and recognised hospitality standards.

The Michelin One Key recognition gives The Naka Island an additional credential in a crowded market. The Michelin hotel key system evaluates stays on criteria including architecture, character, service, comfort and value relative to the experience offered. Thailand’s 2025 selection included 62 key hotels, with The Naka Island listed among One Key properties, a category described as a very special stay. The distinction is expected to support international visibility, particularly among travellers who use independent hotel rankings to choose high-value resort stays.

The resort’s owner and operator ecosystem also adds weight to its positioning. The property is part of Marriott’s Luxury Collection portfolio, while The Erawan Group is associated with the asset as a hotel investor and operator in Thailand’s hospitality sector. The combination gives the resort access to global distribution, loyalty demand and professional asset management, while still allowing it to market itself around local identity and island seclusion.

Access remains central to the resort’s appeal. The property is reached by a short speedboat transfer from Phuket, creating a sense of separation while keeping it close to the island’s airport and main tourism infrastructure. Its location on Naka Yai allows the resort to market mangrove discovery, coastal activities, beach experiences and private dining as part of a contained luxury journey.

CUHK’s Academic Excellence and Global Research Impact

Ranked among the world’s top 50 universities, CUHK ascended to 32nd place globally in the QS World University Rankings 2026, marking a four-place rise that reinforces its role as a hub for rigorous inquiry, and a dynamic environment where students are empowered to pursue meaningful research and knowledge exchange. This trajectory is supported by 17 CUHK researchers recognised on the Highly Cited Researchers 2025 list by Clarivate Analytics, and 431 academics listed among the world’s top 2% scientists by Stanford University. Among them, 47 scholars were ranked within the global top 100 in their respective fields. Notably, three scholars, including Vice-Chancellor and President Professor Dennis Lo Yuk-ming, have earned positions within the global top 10, a distinction that highlights the remarkable depth and excellence of CUHK’s research community.

CUHK’s The Nethersole School of Nursing: Nurturing Research Innovation and Global Talent in Nursing

Among CUHK’s strongest performers in this year’s rankings, the Nethersole School of Nursing has been ranked #1 in Hong Kong and Asia, and #6 worldwide. Reflecting on the academic environment, Pham Nhat Vi DO, a Vietnamese PhD student in Nursing, shared: “My PhD journey at CUHK has transformed my research abilities, critical thinking, and leadership skills. Through CUHK’s outstanding faculty support, I have accessed diverse academic resources and gained invaluable hands-on experience, building a strong foundation for my future career.”

Vi’s research focuses on colorectal cancer survivorship using cutting-edge technology. As the first Vietnamese researcher adopting this approach, her work reflects CUHK’s strength in empowering students to break new ground.

CUHK’s Geography and Resource Management: Advancing Student Research on Pressing Climate Challenges

CUHK’s Department of Geography and Resource Management has also earned notable recognition in this year’s ranking, placing #4 in Asia and #21 worldwide. Arati POUDEL, a Nepali PhD student, highlighted the University’s research ecosystem as a key defining aspect of her experience. “CUHK exceeds expectations through outstanding research facilities, supportive faculty, and comprehensive professional development opportunities. The prestigious Belt and Road Scholarship has also enriched my research journey in this beautiful campus environment.”

Supported by CUHK, Arati’s research investigates how adaptation to climate extremes—particularly water scarcity and excess—are being addressed, and the pivotal role played by communities and civil society in leading these responses.

Through the QS World University Rankings by Subject 2026, CUHK continues to demonstrate the impact of its research and scholarship. These achievements underscore the University’s growing influence on the global academic stage and its steadfast commitment to addressing complex global challenges through innovation, insight, and collaboration.
Hashtag: #CUHK

The issuer is solely responsible for the content of this announcement.

About CUHK

The Chinese University of Hong Kong (CUHK) is a leading higher education institution dedicated to nurturing and empowering students to become responsible and compassionate global citizens. With a rich heritage and a forward-looking vision, CUHK strives to blend tradition with innovation, fostering academic excellence, research breakthroughs, and meaningful societal impact.

1. Constituent Review – ixCrypto Index Series

1. 1. ixCrypto Index (“IXCI”)
The number of constituents will remain at 19 with no additions and deletions.

Additions:
No addition

Deletions:
No deletion

The free float adjusted market capitalization coverage is 84.26%* (excluding stablecoins, which represents 10.90% of the total crypto universe), while the 90-day-average volume is 77.36%*. The recapping at 40% will take effect on the effective date.

Since the last review, there has been a decrease in the crypto total market capitalization from USD3.38T to USD2.62T (-22.53%)^#, and a decrease in the daily volume from USD157.69B to USD108.17B (-31.40%)^#. Bitcoin remains the largest crypto in the constituent list, with its price decreased by 24.58% since the last review.

1.2. ixCrypto Portfolio Indexes

1.2.1 ixCrypto 5 Equal Weight Index (“IXEW5”) and ixCrypto 5 Square Root Index (“IXSR5”)

Additions:
No addition

Deletions:
No deletion

1.2.2 ixCrypto 10 Equal Weight Index (“IXEW10”) and ixCrypto 10 Square Root Index (“IXSR10”).

Additions:
No addition

Deletions:
No deletion

1.2.3 ixCrypto Altcoin 10 EW Index (“IXAEW10”) and ixCrypto Altcoin 10 Square Root Index (“IXASR10”).

Additions: Monero

Deletions: Chainlink

1.3. ixCrypto BTC/ETH Indexes
As of the cut-off date on 31^st March 2026, the ixCrypto BTC/ETH 50/50 Index (“IX5050”) maintains a 50%/50% weighting for the ixBitcoin Index “IXBI” and ixEthereum Index “IXEI”. The ixCrypto BTC/ETH Proportional Index (“IXPI”) has a weighting of 83.12% and 16.88% for IXBI and IXEI, respectively.

At the upcoming effective date, IX5050 weightings will remain unchanged at 50%/50%. IXPI weightings will be adjusted to 84.53% and 15.47% for IXBI and IXEI, respectively, reflecting the market capitalization proportions of Bitcoin and Ethereum at the cut-off date.

1.4. ixCrypto Stablecoin Index
The number of constituents will remain at 6 (Appendix 5). Stablecoin comprises 10.90% of the total crypto universe, and ixCrypto Stablecoin Index covers 98.26% of the 90-day average market capitalization in the stablecoin universe.

2. Exchange Review
To ensure the fairest price objective, all indexes are calculated based on average of multiple exchanges. As a result of exchange review, 10 exchanges passed the review process, which are as follows:

1. Binance
2. Pionex (ADDITION)
3. BitMart (ADDITION)
4. MEXC
5. LBank
6. Bybit
7. Gate.io2
8. Kucoin
9. Crypto.com Exchange
10. Coinbase Exchange

Deletion

1. Huobi Global
2. OKEx

The selected 10 exchanges will be used to generate each of the fair average prices for the IX indexes’ constituents. The exchange review covers volume rankings, exchange background checks, founders’ background checks, USD/USDT/USDC/BTC pair coverage, overconcentration rules, exchange API coverage checks, and stability, among other aspects, for an exchange.

For more details about our exchange selection criteria, please email [email protected]. More information on the ixCrypto Indexes, including their constituents and constituents’ weights, is provided in the Appendices, or refer to the website https://ix-index.com/.

*Exclude stable coins and coins that trigger conflict of interest (based on conflict-of-interest rule methodology 3.9, effective on Oct 2, 2020)
#As of 31^th March 2026, based on the past 90 days average
XXXX ^(ADDITION)Newly introduced exchanges as of 2026 Q1

Appendix 1

Appendix 2

As of 31 March 2026

# Weighting (%) after 40% Cap is adjusted according to the cut-off price, the arrangement of order may not the same as 90-day-average-Market Cap

Selection of index constituents is based on the past 90-day-average market capitalization and volume.
For the calculation methodology of the index, please refer to the “ixCrypto Index Methodology Paper” on our website

Appendix 3

As of 31 March 2026

Appendix 4

As of 31 March 2026

Appendix 5

As of 31 March 2026

Appendix 6

Real time indexes are disseminated every 5-second interval for 24×7 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage and Bloomberg Page IXCI <GO>. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI” and “IXEI”, with dissemination interval kept at 15-second unchanged.

The vendor tickers are shown below:

For further information about ixCrypto Index and other available indexes including IX Crypto spot price index series and EOD indexes, please visit company official webpage https://ix-index.com or subscribe to LinkedIn: IX Asia Indexes

For data licensing and product, please contact us at [email protected].

For free API use on academic research or trial, please contact [email protected]



Hashtag: #ixCryptoIndex

The issuer is solely responsible for the content of this announcement.

About IX Asia Indexes and IX Asia Index Advisory Committee

IX Capital International Limited is an award-winning index and investment advisory company. The index business arm- IX Asia Indexes, providing real-time digital asset and innovative indexes, disseminated 24×7 globally and built on robust infrastructure. Since the launch of the first crypto benchmark index (“IXCI”) launched in Hong Kong in December 2018, the ixCrypto index series expand into over 40 indexes designed for exchange futures products, mark-to-market, and fund managers’ portfolio construction purposes. To ensure the professionality and impartiality of the index methodologies and operations, IX Asia Indexes has established its index advisory committee with representation from different industries, including fund management, exchanges, brokerage, financial blockchain experts, crypto service providers, etc. The committee will meet quarterly a year to discuss matters relating to the IX Asia Indexes, including to review and to comment the data sources, methodologies, and operations of IX Asia Indexes, to provide guidance to the future development of new IX Asia Indexes and to handle other issues and decisions on an as-needed basis.

IX Asia Indexes was awarded the Fintech Award (wealth investment and management) 2019 and 2021 organised by ETNet. It as well won an award for Startup of the Year and Basic Technology (Big Data) from Hong Kong Fintech Impetus Awards 2022 by Metro Broadcast and KPMG. It also won Asia Pacific Enterprise Achievement Award 2024 by Echolade. IX Asia Indexes completed its IOSCO compliance statement and obtained ISO/IEC 27001:2022 UKAS certification.

Website: https://ix-index.com/

Advisory Committee: https://ix-index.com/committee.htm

About IX Crypto Indexes

The ixCrypto index (“IXCI”) is the first crypto index launched in Hong Kong. It was launched on 12 December 2018. It is denominated in USD with a base value of 1000 and a base date on 3 December 2018. Designed to be easy to understand while providing a good representation of the crypto market, ixCrypto index aims to cover the top 80% of the cumulative free-float adjusted market capitalization in the crypto universe and, at the same time, the crypto currencies should fall within the top liquid cryptos ranked by trading volume in the 90 days preceding the review date. The index is to be reviewed quarterly and with a fast entry rule. Real time indexes are disseminated every 5-second for 24×7 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Asia Indexes Data Services and Bloomberg terminal on IXCI <GO>. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI”, “IXEI”, with dissemination interval kept at 15-second unchanged. Wechat: 信昇亞洲指數.

As the world’s first humanoid robot marathon event brand, this competition has reached new heights in terms of scale, technological innovation, and organizational requirements. Therefore, the drill was conducted to drive a further upgrade in the quality of event preparations.

In terms of scale, the number of participating teams for this year has grown by nearly five times compared to last year, exceeding 100 teams. Covering two major categories—autonomous navigation and remote control—with autonomous teams accounting for nearly 40%, the number of participants, types of technology, and scope of testing have all reached historic highs. Consequently, full-process drills are required to solidify operational links, hone team coordination, and ensure the efficient operation of the event.

Regarding technological innovation, the first large-scale application of autonomous navigation technology has become a major highlight and challenge. In complex and changing environments, robots face difficulties in perceiving and making decisions within intricate surroundings, posing huge challenges to their computing power. At the same time, long-distance running places severe tests on the robots’ endurance, specifically examining their long-range stamina and energy management capabilities. Furthermore, dynamic balance and gait control capabilities are put to the test; robots must maintain dynamic balance at all times. Especially during high-speed running or sharp turns, the requirements for adaptive gait and millisecond-level posture correction are extremely high to prevent falls caused by shifts in the center of gravity.

In terms of regulations, this year’s event has also seen systematic upgrades in five areas: stricter rules on human intervention, more scientific start and movement protocols, clearer scoring and penalty criteria, more standardized supply and equipment management, and tighter safety and emergency procedures.

Facing these numerous challenges, the main purpose of this full-process, all-element test is to conduct technical validation, process refinement, risk prevention, and standard consolidation, ensuring the official race proceeds safely, smoothly, efficiently, and in an orderly manner. This drill, adhering to the standards of “full-process, all-scenarios, and all-elements,” followed the complete official race route of 21.0975 kilometers for the first time. It followed official race timelines, track rules, and support systems, covering two categories of teams (autonomous and remote-controlled), two types of scenarios (urban main roads and eco-parks), and two major segments (technical competition and service support). Through full-chain stress testing, the organizers carried out targeted breakthrough verifications to precisely identify potential issues and optimize procedural details.

The entire event involves a full chain of operations including start-line assembly, track control, battery swapping and resupply, finish-line diversion, emergency containment, vehicle dispatch, timing and judging, and security and medical services. All these must undergo practical drills to identify risks, optimize movement lines, and unify standards. This test comprehensively inspects the stability and reliability of humanoid robot technology, laying a solid foundation for the successful hosting of the official event.

During this test, team positioning was strictly verified and orderly arranged based on technical data submitted by each team, ensuring the process was open, standardized, fair, and orderly. As a realistic pre-race simulation drill, the test focused on process refinement, problem identification, and detail optimization. Test results were for reference only and did not count towards official rankings or race results. At the same time, speed performance and operational data of the teams during the test were within the scope of verification and do not represent their level in the official competition.

Currently, the short-distance speed of robots has improved significantly, and some teams predict that their half-marathon results may approach the level of elite human athletes. As a competition that serves as an extreme test of comprehensive performance and adaptability to complex terrain, the final results are worth looking forward to. On April 19, this human-robot co-running half-marathon will officially kick off, providing more impetus for the development of the robotics industry and accelerating the transition of humanoid robots from the laboratory to real-world applications.

Hashtag: #2026BeijingE-TownHalf-MarathonandHumanoidRobotHalf-Marathon

The issuer is solely responsible for the content of this announcement.

The company, which appears to have been incorporated in Singapore in March 2026 as SEOEXPERT PTE. LTD., is presenting itself as a performance-driven agency focused on SEO, paid advertising and social media marketing. Its public-facing claims centre on AI-assisted content publishing, competitor monitoring, campaign optimisation and lead qualification, alongside a “no long-term contracts” offer and a promise to be judged on outcomes rather than retainers alone. That message lands at a time when many smaller businesses are under pressure to justify every marketing dollar and are increasingly wary of vague promises around rankings and traffic.

The broader backdrop helps explain why such positioning may resonate. Singapore’s digital economy accounted for 18.6 per cent of gross domestic product in 2024, up from 14.9 per cent in 2019, according to the Infocomm Media Development Authority, while SME adoption of AI more than tripled in one year to 14.5 per cent in 2024. That expansion has widened the addressable market for agencies promising to help firms compete online, but it has also sharpened scrutiny of whether AI-branded services genuinely improve sales, lead quality and discoverability or merely repackage familiar tactics with new language.

SEOExpert is entering a field where established players already market many of the same ideas. Rival agencies in Singapore promote AI-assisted SEO, performance pricing, flexible contracts and proof-of-results case studies, while independent directories and agency marketplaces show a busy, fragmented sector serving everything from small retailers to larger regional brands. That means the newcomer is not inventing a category so much as trying to sharpen a proposition around trust, transparency and speed of execution. The challenge will be whether it can demonstrate that its systems produce durable gains rather than short bursts of visibility.

For SMEs, the appeal of a results-linked arrangement is obvious. Search marketing has long suffered from an information imbalance: agencies control the technical work, clients often lack the tools to assess quality, and outcomes can depend on shifting search algorithms, website health, content quality and competition in a given niche. In that environment, a promise that reduces fixed commitment can sound attractive, particularly for businesses that have previously paid monthly retainers without a clear link to revenue. Yet such offers also deserve careful reading. “Results” can mean rankings, clicks, leads or sales, and those metrics do not carry equal commercial value. A company can rise in search results without converting more customers.

The AI element also cuts both ways. Automation can help agencies monitor competitors, scale content operations and identify technical issues faster, which may lower delivery costs and shorten turnaround times. At the same time, search platforms and clients alike are becoming more alert to thin, repetitive or mechanically generated material. That raises the bar for agencies claiming proprietary tools. The real test is not whether software is involved, but whether the work improves relevance, authority and user experience in a way that survives algorithm changes and stricter expectations from search engines and AI-driven discovery platforms.

Another factor is credibility. Public records indicate the company is newly formed, which is not unusual for a startup agency but does mean prospective clients will have limited operating history to assess. Its website advertises more than 100 brands served and showcases commercial claims around measurable growth, though such statements are difficult to independently verify from public information alone. For buyers in Singapore’s SME segment, that typically shifts due diligence towards contract terms, reporting standards, client references, attribution methods and whether performance targets are clearly defined before money changes hands.