JDI Logs 108-B.-Yen Net Loss in April-Sept.
Tokyo, Nov. 13 (Jiji Press)--Japan Display Inc. <6740>, or JDI, on Wednesday reported a group net loss of 108,672 million yen for April-September, far larger than the year-before loss of 9,523 million yen.
The result reflected swelling restructuring expenses and impairment losses on production equipment for its mainstay smartphone liquid crystal display products.
In the first half of fiscal 2019, JDI suffered an operating loss of 35,620 million yen, more than double the year-before loss of 14,475 million yen, although sales rebounded 11 pct to 237,762 million yen.
At the end of September, JDI had a negative net worth of 101.6 billion yen, even larger than 77.2 billion yen three months before.
At a press conference, President Minoru Kikuoka said the company was in the black for October alone.
[Copyright The Jiji Press, Ltd.]