Kioxia Holdings Corp. is preparing to go public on the Tokyo Stock Exchange as early as September after heightened U.S.-China tensions led to the postponement of the Japanese chipmaker's planned debut last year, sources familiar with the plan said.

The envisaged listing of Kioxia, formerly known as Toshiba Memory Holdings Corp., comes as robust demand for semiconductors is giving a boost to chipmakers and their share prices.

The firm is expected to submit an application to the Tokyo bourse this month to list its shares, likely on the first section, the sources said Wednesday.