Breaking News

G.SKILL Showcases DDR5-9200 1.1V 16GBx2 High-Speed CU-DIMM Memory Kit Sony Introduces BRAVIA 9 II and BRAVIA 7 II RGB TVs and the BRAVIA Theatre Trio Creative Announces Sound Blaster AE-X Acer Expands Gaming Portfolio With Predator Atlas 8 Handheld Powered by Intel COLORFUL Presents Limited Edition iGame GeForce RTX 5070 Ultra OC 12GB x 007 First Light Edition

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Japan Display Under Chinese Control After $2.1 billion Bailout Deal

Japan Display Under Chinese Control After $2.1 billion Bailout Deal

Enterprise & IT Apr 12,2019 0

Japan Display said on Friday it has signed a deal under which it will receive a 232 billion yen ($2.1 billion) bailout that will give a Chinese-Taiwanese group a near-majority stake in the firm.

The group which includes Taiwanese flat screen maker TPK Holding and China asset manager Harvest Group, will inject up to 80 billion yen by buying shares and bonds.

As a result, it will own a 49.8 percent stake and become the largest shareholder in the company in place of the Japanese government-backed INCJ fund, effectively ending the government’s efforts to keep the last remaining domestic display maker out of foreign hands.

INCJ will also join the bailout by accepting a debt-to-equity swap totaling 75 billion yen and extending senior loans worth 77 billion yen. It’s stake will fall to 12.7 percent from 25.3 percent after the deal.

Japan Display needs the funding in order to shift its production to sorganic light-emitting diode (OLED) screens.

The company expects to post its fifth straight year of net losses in the year ending this month, as disappointing sales of Apple’s iPhone XR, the only model with LCD screens, dashed hopes for a turnaround.

The Apple business accounted for more than half of Japan Display’s revenue over the last four years.

Under the latest deal, Japan Display and the group are planning to launch an OLED panel plant to produce iPhone screens.

Tags: Japan Display
Previous Post
SpaceX Lands All Three Falcon Heavy Rocket Boosters
Next Post
Tesla Begins Offering Leases for Model 3, Makes Autopilot Standard

Related Posts

  • Japan Display Finalises Deal to Raise $200 Million, Possibly From Apple

  • JDI Starts Mass Production of 1058 ppi High-Definition VR LCD

  • Japan Display Gets $920m Bailout from Ichigo

  • Japan Display Could Sell Display Factory to Apple, Sharp

  • Japan Display Agrees for $736 Million Bailout

  • Japan Display to Showcase 12.3-inch Transparent LCD Display at FINTECH JAPAN 2019

  • Japan Display Employee Stole 578 Million Yen

  • Japan Display Reports Quarterly Net Loss

Latest News

G.SKILL Showcases DDR5-9200 1.1V 16GBx2 High-Speed CU-DIMM Memory Kit
PC components

G.SKILL Showcases DDR5-9200 1.1V 16GBx2 High-Speed CU-DIMM Memory Kit

Sony Introduces BRAVIA 9 II and BRAVIA 7 II RGB TVs and the BRAVIA Theatre Trio
Consumer Electronics

Sony Introduces BRAVIA 9 II and BRAVIA 7 II RGB TVs and the BRAVIA Theatre Trio

Creative Announces Sound Blaster AE-X
PC components

Creative Announces Sound Blaster AE-X

Acer Expands Gaming Portfolio With Predator Atlas 8 Handheld Powered by Intel
Gaming

Acer Expands Gaming Portfolio With Predator Atlas 8 Handheld Powered by Intel

COLORFUL Presents Limited Edition iGame GeForce RTX 5070 Ultra OC 12GB x 007 First Light Edition
GPUs

COLORFUL Presents Limited Edition iGame GeForce RTX 5070 Ultra OC 12GB x 007 First Light Edition

Popular Reviews

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

be quiet! Pure Loop 3 280mm

be quiet! Pure Loop 3 280mm

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Endorfy Thock V2 Wireless Keyboard

Endorfy Thock V2 Wireless Keyboard

Soft2bet and the unseen hardware that makes instant play possible

Soft2bet and the unseen hardware that makes instant play possible

Crucial T710 2TB NVME SSD

Crucial T710 2TB NVME SSD

JSAUX 65Wh Rog Ally Battery

JSAUX 65Wh Rog Ally Battery

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed