Japan Display to Incur 5th Straight Net Loss in FY '18
Tokyo, Jan. 29 (Jiji Press)--Japan Display Inc. <6740> is expected to report a group net loss for the fifth straight year in fiscal 2018, hit by sluggish sales of Apple Inc.'s iPhone XR smartphones, according to informed sources.
Last year, Japan Display, a supplier to Apple, procured funds from investors and others to mass-produce liquid crystal display panels for the iPhone XR, which was released last autumn.
As the operating rates of a key plant went down, however, the company's group sales in the current fiscal year ending in March are now seen to fall short of a lowered projection of some 800 billion yen, announced in November last year, the sources said. It is thus likely to stay in the red in its net balance for five years on end.
As Japan Display is also facing serious fund shortages due to its poor business performance, it is in talks with some companies, including Taiwanese touch panel manufacturer TPK Holding Co., about accepting investments.
In April 2012, Japan Display launched operations by integrating the small and midsize LCD businesses of Hitachi Ltd. <6501>, Toshiba Corp. <6502> and Sony Corp. <6758>.
[Copyright The Jiji Press, Ltd.]