Japan Display Likely to Raise Some 100 B. Yen
Tokyo, March 30 (Jiji Press)--Japan Display Inc. <6740> is making final arrangements to procure some 100 billion yen from a China-Taiwan consortium and Japanese public-private investment fund INCJ Ltd., informed sources said Saturday.
Japan Display, a major maker of small and midsize liquid crystal displays now under business rehabilitation, is in negotiations with the consortium, comprising a Chinese fund and Taiwanese touch screen manufacturer TPK Holding Co.
According to the sources, Japan Display hopes to reach a basic agreement with the consortium as early as next week. Initially, the company aimed to strike a deal within fiscal 2018, which ends on Sunday.
The China-Taiwan consortium is expected to secure some 30 pct of the voting rights in Japan Display with investment totaling 60 billion yen, the sources said.
With INCJ considering additional financial assistance, Japan Display is expected to procure a total of about 100 billion yen, the sources said. INCJ is the top shareholder of Japan Display with a stake of over 25 pct at present.
[Copyright The Jiji Press, Ltd.]