Tokyo Stock Exchange declines as Kioxia earnings miss expectations

The Nikkei 225 index closed lower on Monday, November 2, 2026, pressured by a significant drop in Kioxia Holdings shares. The memory chip manufacturer saw its stock decline by over 15 percent after announcing profit forecasts for the October to December quarter that fell short of market expectations.

Broader market sentiment was also impacted by recent volatility in the U.S. technology sector, specifically following a sharp decline in semiconductor-related stocks and concerns regarding the profitability of artificial intelligence investments. While Kioxia's performance weighed heavily on the market, some semiconductor-related stocks, such as Tokyo Electron and Advantest, showed signs of recovery during the session.

The TOPIX index also recorded a decline, reflecting a general downward trend in the Japanese equity market at the start of the month. Investors remained cautious amid global economic uncertainty and upcoming political events in the United States.