Taiwan Group to Leave JDI Support Consortium

Economy

Tokyo, June 25 (Jiji Press)--Japan Display Inc. <6740> said Tuesday that Taiwanese financial group CGL will withdraw from a China-Taiwan consortium for providing up to 80 billion yen in financial support to the ailing Japanese liquid crystal display panel maker.

JDI was informed of CGL's decision by the day, according to informed sources.

The move came after Taiwanese touch screen maker TPK Holding Co. dropped out of the consortium.

With JDI still hoping to secure 80 billion yen, plans are being studied for Hong Kong investment fund Oasis Management Co. to join the consortium and for Chinese fund Harvest Tech Investment Management Co. to increase the amount of its planned assistance.

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