Subsequent Events

6 Months Ended

Jan. 02, 2026

Subsequent Events [Abstract]

Subsequent Events

Note 16.    Subsequent Events

On January 29, 2026, the Company and Kioxia Corporation entered into an FAL Second Commitment and Extension Agreement (the “FAL Second Extension Agreement”) and FPL Second Commitment and Extension Agreement (the “FPL Second Extension Agreement”, and together with the FAS Second Extension Agreement, collectively, the “Extension Agreements”), under which the parties thereto extended the term of the Flash Alliance and Flash Partners joint ventures to December 31, 2034. Following the execution of the Extension Agreements, all of the Flash Ventures across the Yokkaichi and Kitakami sites now co-terminate on December 31, 2034.

In addition to the Extension Agreements, the Company entered into Agreement to Enhance Collaboration with Kioxia, pursuant to which the Company will pay Kioxia $1.2 billion, with payments made over the years 2026 through 2029, in consideration of Kioxia’s manufacturing services and the continued availability of supply.