SK Hynix's indirect stake in Kioxia, held through a special purpose vehicle, has risen to 14.19%, surpassing Toshiba's 14.06% and making it the largest shareholder in the Japanese NAND manufacturer. According to an August 10 report by Nikkei, Toshiba had previously reduced its Kioxia stake seven consecutive times between July 15 and August 3. However, SK Hynix's holding is currently in the form of convertible bonds (CBs) and does not yet carry direct voting rights. Whether it can convert these bonds into shares and expand its influence in the future will depend on factors such as regulatory approval.