Japan Display to Incur Operating Loss of Over 20 B. Yen
Tokyo, Feb. 14 (Jiji Press)--Japan Display Inc. <6740> said Thursday that it now expects to report a group operating loss of over 20 billion yen for fiscal 2018.
The major Japanese maker of small and midsize liquid crystal displays is expected to log a net loss for the fifth straight year in the year ending in March although the company earlier aimed to report a net profit.
Uncertainties are growing over the course of business reconstruction at the company, which has received support from INCJ Ltd., a Japanese public-private investment fund, informed sources said.
The dismal business estimates for fiscal 2018 mainly reflect sluggish sales in China of a new model of the iPhone smartphone of Apple Inc., a major client of Japan Display. Shipments of LCD panels for the new iPhone model have fallen far short of a goal set by Japan Display.
Aiming to secure tens of billions of yen in operating funds by the end of March, Japan Display is currently in negotiations with parties, including a consortium comprising such entities as the Chinese government-affiliated Silk Road Fund and Taiwanese touch panel manufacturer TPK Holding Co.
[Copyright The Jiji Press, Ltd.]