Japan Display to Receive Investment from Chinese Fund
Tokyo, June 28 (Jiji Press)--Japan Display Inc. <6740> said Friday that it will receive 52.2 billion yen in capital injection from Chinese fund Harvest Tech Investment Management Co.
U.S. technology giant Apple Inc., a major customer of the struggling Japanese maker of small and midsize liquid crystal display panels, is expected to put up some 10.7 billion yen of the total.
The investment from Harvest Tech is part of Japan Display's broader plan to raise up to 80 billion yen in financial assistance to help turn it around.
Japan Display is still in talks with Hong Kong fund Oasis Management Co., which is considering investing some 16 billion yen in the company.
Apple also agreed to provide additional debt relief to Japan Display.
[Copyright The Jiji Press, Ltd.]