Innovation Network Corp. of Japan, a government-backed investment fund, is considering providing more than ¥50 billion ($433,6 million) in financial support for Japan Display.

Japanese Jiji Press reports that the amount of support may even balloon to around ¥100 billion, adding that the investment fund will finalize its decision this month.

INCJ believes the display business holds the key to the future of the struggling company amid the rapid popularization of internet of things products and services, an INCJ executive said.

The investment fund could help Japan Display realize mass production of organic electroluminescent displays, considered next-generation products, and develop new liquid crystal displays.

In the year that ended in March, Japan Display logged a group net loss for the second straight year. For April-September, its net loss stood at ¥16.7 billion.

INCJ invested ¥200 billion in Japan Display in 2012, when the firm was set up through the merger of display operations of Hitachi, Sony. and Toshiba.