According to one embodiment, there is provided a memory system including a controller, a plurality of memory chips, and a channel. The controller outputs a clock signal, a timing control signal and a data signal. Each of the plurality of memory chips includes at least a clock input terminal, a timing control input terminal, a timing control output terminal, a data input terminal and a data output terminal. The channel includes a loop bus which connects the controller and the plurality of memory chips in a ring shape. The controller is able to control operation timings of the memory chips by transmitting the clock signal and the timing control signal to the plurality of memory chips via the channel.