JDI Eager to Strike Capital Reinforcement Deal Early Next Week

Economy

Tokyo, April 4 (Jiji Press)--Japan Display Inc. <6740> has said it is willing to conclude a capital tie-up agreement with a Chinese-Taiwanese consortium early next week to replenish its capital by 60 to 80 billion yen.

The tie-up deal will be part of JDI's plan to raise over 110 billion yen in fresh capital including from state-backed investment fund INCJ Ltd.

JDI was previously hoping to strike the tie-up deal this week. But on Wednesday, the company said in a statement that while the negotiations "have progressed, finalizing an agreement is likely to extend into the first half of next week, as time is required to complete certain administrative procedures."

JDI and the consortium have yet to reach an agreement, informed sources said.

JDI came into being as an "all-Japan" display maker in 2012 through the integration of small and medium-sized liquid crystal display panel operations of Toshiba Corp. <6502>, Hitachi Ltd. <6501> and Sony Corp. <6758>.

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