Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Kioxia's (285A JP) $10bn US ADR: The Leak Is Unconfirmed, but the Logic Is Sound

Kioxia (285A JP: The Cycle Is Intact, 100% Pre-Sold NAND, Gen.10 on Track and a 3-For-1 Split

Kioxia (285A JP): The Best Results in Japan Nobody Wants to Buy — Stay Bullish, Keep the Faith

Equity Bottom-Up

<ul>
<li>Kioxia's 3-for-1 split is effective today; the shares closed 30 September at ¥18,095, up 1.2%. Retail held just 5% at March 2026, down from 6%.  </li>
<li>Kioxia's 3-for-1 split is effective today; the shares closed 30 September at ¥18,095, up 1.2%. Retail held just 5% at March 2026, down from 6%.  </li>
<li>BULLISH maintained, fair value ¥24,000 post-split on 12x FY2027E EPS of ¥2,000; the split changes who can own the shares, not what they are worth.</li>
</ul>


Kioxia's 3-for-1 split is effective today; the shares closed 30 September at ¥18,095, up 1.2%. Retail held just 5% at March 2026, down from 6%.  
Kioxia's 3-for-1 split is effective today; the shares closed 30 September at ¥18,095, up 1.2%. Retail held just 5% at March 2026, down from 6%.  
BULLISH maintained, fair value ¥24,000 post-split on 12x FY2027E EPS of ¥2,000; the split changes who can own the shares, not what they are worth.


Kioxia Holdings (285A JP) — the 3-For-1 Split Fixes a Real Problem for Retailers