【キオクシアを抜いた中国半導体メーカーの実力】世界シェア3位「YMTC」とは何者か？／キオクシアとYMTCの違い／YMTCは年内にも上場／中国が進める半導体“国産化”戦略／次の注目は「半導体製造装置」 | ビジネス | 東洋経済オンライン

A Chinese memory maker, YMTC, has overtaken Japan's Kioxia in NAND flash market share to reach third worldwide — and this Toyo Keizai feature means far more to Taiwanese readers than "another Chinese chipmaker rises." It reshapes a deeply cyclical memory industry and marks the next landing spot for China's "chip self-sufficiency" strategy, with Taiwan on the front line as both an equipment-and-materials supplier and a memory competitor.

Set the coordinates. AI-driven NAND demand is surging; the main beneficiaries were Japan's Kioxia and Korea's Samsung and SK Hynix. YMTC breaking into the top three means a market once led by Japan and Korea now has a Chinese first-tier player — and when a newcomer displaces a veteran on scale, the rules have usually changed. The contrast defines the fight: one competes on process and yield; the other on volume and cost, stacked with state resources. Competition shifts from "better technology" toward "more subsidy and substitution resolve."

Memory's nature makes added Chinese supply especially damaging: NAND is standardized and violently cyclical, and every past expansion wave ended in price collapse. A state-backed YMTC, more tolerant of losses than a commercial firm, won't retreat when it bleeds — deepening and lengthening downturns for everyone, including Taiwan, Korea and Japan. The piece flags two clues: a possible listing within the year (more expansion ammunition) and semiconductor equipment as the next link — the last mile of localization and the core of export controls.

For Taiwanese readers: YMTC is both one more price rival and one more substitution market to defend. Hold "more Chinese supply pressures prices" and "export controls decide how high China climbs" in one frame; equipment/materials firms should track every control-list change.