Japan Display is going to deepen the restructuring and hopes to attract additional investment
The company Japan Display has recognized that belatedly joined in the race to the OLED, therefore, are unable to obtain an order for production of panels for Apple smartphones. Now the company is considering the possibility of deepening the ongoing restructuring and hope to attract additional investment. The announcement of this popular Japanese publishing business has led to rise in prices of shares in Japan Display 11%.
It is expected that at meeting of shareholders of Japan Display, scheduled for the current month, will change the management of the company, and by the end of summer will be released on a new medium-term action plan.
Company for three consecutive years carrier loss previously announced plans to cut 30% of employees and consolidate manufacturing.
According to the newspaper, the company is seeking financial support to Fund with state participation Innovation Network Corp of Japan (INCJ). We will remind, INCJ — one of participants of the enterprise, established in 2012 by the merger of the relevant divisions of Hitachi, Sony and Toshiba.
In December last year, the Fund INCJ has already agreed to provide Japan Display more than $ 600 million. Part of the funds would be used for increasing shares of Japan Display in SP JOLED. According to the new information, the purchase has been postponed.