January 31, 2026
Actions of Sandisk recovered on Friday, according to a Reuters report. The data storage company forecast third-quarter profit and revenue well above analyst estimates and extended a major supply deal, fueled by a surge in demand for AI-based data storage.
Its shares were last up 14.7% at $616.5, building on their roughly 160% jump in January that made it one of the best-performing stocks in the S&P 500. The company expects third-quarter revenue to be between $4.4 billion and $4.8 billion and adjusted earnings between $12 and $14 per share.
The midpoints of both were above estimates of $2.77 billion and $4.37 per share, respectively, according to data compiled by LSEG. “Earnings are above the long-term trend, but based on our data it seems likely that they will remain so for more than a year – in fact for as long as AI’s trajectory remains this robust,” Morgan Stanley analysts said in a note.
Rivals Western digital, Seagate Technology and industry giant Micron technology have also posted robust gains of late, with memory chipmakers among the winners in the AI race so far. Western Digital also forecast third-quarter revenue above expectations, even though its shares were down 5.5%.
As memory chips face a severe shortage globally, AI and consumer electronics companies are competing for dwindling supplies, a squeeze that is expected to cause a years-long delay for manufacturers. Morningstar analysts expect supply constraints to persist at least through 2028, which could generate significant growth for Sandisk.
The company reported second-quarter revenue of $3.03 billion and adjusted earnings of $6.2 per share, both beating estimates. Sandisk has secured its supply of flash chips through a joint venture with Kioxia Corp. in Japan and the companies said they had extended their supply agreement until the end of 2034, while it had previously expired at the end of 2029.
At least five brokerages have raised their price targets on the stock, with BernsteinThe $1,000 call is among the highest on Wall Street.
This report provides a comprehensive view of the souvenir industry in Japan, tracking demand, supply and trade flows across the national value chain. It explains how demand in key channels and end-use segments shapes consumption patterns, while mapping the role of input availability, production efficiency and regulatory standards in supply.
Beyond the main indicators, the study compares prices, margins and trade routes so you can see where value is created and how it flows between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization and risk management in Japan’s memory landscape.
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Main findings
- Domestic demand is shaped by both domestic and industrial uses, with trade flows linking local supply with imports and exports.
- Price dynamics reflect unit values, transportation costs, exchange rates and regulatory changes that affect sourcing decisions.
- Supply depends on input availability and production efficiency, creating a distinct national cost curve.
- Market concentration varies across segments, creating different competitive landscapes and barriers to entry.
- The outlook for 2035 highlights areas where capacity investment and demand growth are most aligned in the country.
Scope of the report
The report combines market size with business information and pricing analysis for Japan. It covers both historical performance and the outlook through 2035, allowing you to compare cycles, structural changes and policy impacts.
- Market size and growth in terms of value and volume
- Structure of consumption by end-use segments
- Production capacity, output and cost dynamics
- Trade flows, exporters, importers and balances
- Price references, unit values and margin signals
- Competitive context and market entry conditions
Product coverage
- Prodcom 26113023 – Multi-chip integrated circuits: memories
- Prodcom 26113027 – Electronic integrated circuits (excluding multi-chip circuits): dynamic random access memories (D-RAM)
- Prodcom 26113034 – Electronic integrated circuits (excluding multi-chip circuits): static random access memories (S-RAM), including random access cache memories (cache-RAM)
- Prodcom 26113054 – Electronic integrated circuits (excluding multi-chip circuits): UV-erasable, programmable read-only memories (EPROM)
- Prodcom 26113065 – Electronic integrated circuits (excluding multi-chip circuits): electrically erasable, programmable read-only memories (E.PROMs), including flash E.PROMs
- Prodcom 26113067 – Electronic integrated circuits (excluding multi-chip circuits): other memories
National coverage
Country profile and benchmarks
This report provides a coherent view of market size, trade balance, prices and per capita indicators for Japan. The profile highlights demand structure and business position, enabling comparative analysis against regional and global peers.
Methodology
The analysis draws on a multi-source framework that combines official statistics, business records, company-provided information and expert validation. Data is standardized, reconciled and cross-checked to ensure consistency across time series.
- International trade data (exports, imports and mirror statistics)
- National production and consumption statistics
- Company-level information from financial filings and public publications
- Price series and reference unit values
- Analyst review, outlier checks, and time series validation
All data is standardized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons over time are aligned and actionable.
Forecast to 2035
The forecast horizon extends to 2035 and is based on a structured model that connects souvenir demand and supply with macroeconomic indicators, business trends and industry-specific factors. The model takes into account both cyclical and structural factors and reflects the political and technological changes experienced in Japan.
- Historical reference: 2012-2025
- Forecast horizon: 2026-2035
- Scenario-based sensitivity to revenue growth, substitution and regulation
- Investment capabilities and prospects for large producing companies
Each projection is constructed from national historical patterns and the broader regional context, allowing the report to show where growth is concentrated and where risks are high.
Price analysis and trading dynamics
Prices are analyzed in detail, including unit values of exports and imports, regional differences and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates and supply disruptions influence prices and margins.
- Price references by country and sub-region
- Trends in unit values of exports and imports
- Seasonal and calendar effects of trade flows
- Price outlook until 2035 under basic assumptions
Profiles of market players
The major producers, exporters and distributors are profiled with emphasis on their operational scale, geographic footprint, product range and market positioning. This helps identify competitive pressure points, partnership opportunities and pathways to differentiation.
- Commercial focus and production capabilities
- Geographic reach and distribution networks
- Cost structure and pricing strategy indicators
- Context for compliance, certification and sustainability
How to use this report
- Quantify domestic demand and identify the most attractive segments
- Evaluate export opportunities and prioritize target destinations
- Track price dynamics and protect your margins
- Benchmark performance compared to leading competitors
- Develop evidence-based forecasts for investment decisions
This report is designed for manufacturers, distributors, importers, wholesalers, investors and advisors who need a clear, data-driven picture of memory dynamics in Japan.
FAQs
What does the souvenir market in Japan include?
Market size aggregates consumption and trade data, presented in both value and volume terms.
How are forecasts made for 2035?
The projections combine historical trends with macroeconomic indicators, business dynamics and industry-specific factors.
Does the report cover prices and margins?
Yes, it includes export and import unit values, regional differences and price outlook until 2035.
What benchmarks are included?
The report assesses the market size, trade balance, prices and per capita indicators for Japan.
Can this report support market entry decisions?
Yes, it highlights demand hotspots, trade routes, pricing trends and competitive landscape.