Chinese Fund to Raise Investment in JDI to 64 B. Yen
Tokyo, June 19 (Jiji Press)--Japan Display Inc. <6740> said Wednesday that Chinese investment fund Harvest Tech Investment Management Co. will increase its investment in the ailing Japanese company to a maximum of 64 billion yen.
JDI reached a basic agreement in April to receive up to 80 billion yen in financial support from a China-Taiwan consortium, which includes Harvest Tech.
Harvest Tech's investment plan apparently takes into consideration the possible withdrawal of Taiwanese financial group Cosgrove Global Ltd. from the consortium.
The Japanese maker of small and midsize liquid crystal display panels hopes that a formal decision on the investment will be made by June 27.
On Monday, JDI said that Taiwanese touch screen maker TPK Holding Co. will quit the three-company consortium and that Oasis Management Co., a Hong Kong investment fund, will join the group in its place.
[Copyright The Jiji Press, Ltd.]