Japan's Kioxia (formerly known as Toshiba Memory and owned by Bain Capital) is rumored to be in merger negotiations with Western Digital. Bain has previously this past year announced consideration of a potential IPO of Kioxia which might also happen.

Toshiba has a separate division Toshiba Storage Products for hard disk drives (HDDs) that is not part of this rumored merger.

It will be interesting to see if further consolidation might happen. Maybe US memory leader Micron considers a merger with Seagate.$Seagate Technology PLC(STX)$