JDI Logs 108-B.-Yen Net Loss for April-Sept.
Tokyo, Nov. 13 (Jiji Press)--Ailing Japan Display Inc. <6740> reported on Wednesday a group net loss of 108,672 million yen for April-September, far worse than the year-before loss of 9,523 million yen.
The dismal result reflected swelling restructuring expenses and impairment losses on production equipment at its mainstay factory in Hakusan, Ishikawa Prefecture, as well as damage from Typhoon Faxai in September.
JDI's negative net worth had swelled to 101.6 billion yen as of the end of September, from 77.2 billion yen three months earlier, making its rehabilitation more uncertain.
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. But sales rebounded 11 pct to 237,762 million yen.
At a press conference on the day, JDI President Minoru Kikuoka pointed out that the company's sales are on a recovery path, with orders increasing for its products used in Apple Inc.'s new iPhone models. He added that the company was in the black for October alone.
[Copyright The Jiji Press, Ltd.]