Japan Display Secures Investment from Chinese Fund
Tokyo, June 28 (Jiji Press)--Japan Display Inc. <6740> said Friday that it will receive 52.2 billion yen in investment 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 set to put up 10.7 billion yen of the total.
The investment from Harvest Tech is part of Japan Display's plan to secure up to 80 billion yen in financial assistance.
Japan Display is still in talks with Hong Kong fund Oasis Management Co., which is considering investing 16 billion yen in the LCD panel maker.
Apple also agreed to ease the terms of its loans extended to Japan Display to help the company boost the production of LCD panels for smartphones.
[Copyright The Jiji Press, Ltd.]