Breaking News

ASUS Announces Pro WS Platinum Series Power Supplies Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition Transcend Introduces 8TB Industrial SSD with Power Loss Protection Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

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

ASUS Announces Pro WS Platinum Series Power Supplies
PC components

ASUS Announces Pro WS Platinum Series Power Supplies

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device
Consumer Electronics

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition
GPUs

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition

Transcend Introduces 8TB Industrial SSD with Power Loss Protection
Enterprise & IT

Transcend Introduces 8TB Industrial SSD with Power Loss Protection

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens
Cameras

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Arctic Liquid Freezer III 420 - 360

Arctic Liquid Freezer III 420 - 360

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Noctua NH-D15 G2

Noctua NH-D15 G2

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