Shulou(Shulou.com)11/24 Report--

CTOnews.com Kaixia said Friday that due to weakening global demand for electronic equipment, it will cut the amount of wafers used to produce flash chips at two Japanese factories (Yokkaichi and Kitakami) by about 30% from October.

"The company will continue to review and adjust its business as needed," the company said in a statement. The company added that it remains confident in the medium-to long-term growth prospects of the flash memory market.

Kaixia currently operates Yokkaichi and Kitakami factories with Western Digital. These factories are located in central and northern Japan.

CTOnews.com reported that rival Micron Technology said Thursday it would similarly cut investment plans by 30 percent due to falling demand for PCs and smartphones and cut manufacturing investment by 50 percent in the new fiscal year.

Japan's production of electronic components and equipment fell 6.3 percent in August from a month earlier, mainly due to a drop in memory chip production, the government said Friday.

Times are getting tough: Micron announces it will cut capital spending by 30 percent

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