JDI Sells Production Equipment in Central Japan to Apple

Economy

Tokyo, March 31 (Jiji Press)--Japan Display Inc. <6740> said Tuesday that it has agreed to sell production equipment at its plant in Hakusan, Ishikawa Prefecture, central Japan, to a foreign client for 200 million dollars.

The equipment to make liquid crystal display panels was sold to U.S. technology giant Apple Inc. But the struggling LCD panel maker did not disclose the buyer due to its confidentiality duty.

JDI is in talks to sell the plant buildings and land to electronics maker Sharp Corp. <6753>.

The Hakusan plant was JDI's mainstay factory, producing LCD panels for Apple. The plant was halted in July last year due to sluggish demand.

JDI built the plant with 170 billion yen in funds provided by Apple. Of the sum, 87.9 billion yen had not been repaid to the U.S. company as of the end of last month.

[Copyright The Jiji Press, Ltd.]

Jiji Press