Japan Display may receive from the Fund INCJ to 850 million dollars in aid
According to the source, the Fund with state participation Innovation Network Corp. of Japan (INCJ) is considering the provision of financial assistance to the company Japan Display. As stated, the assistance could exceed 430 million dollars and closer to $ 850 million. The final decision should be made before the end of the month.
In INCJ believe that the production of displays is key to the future of the company in terms of growth of popularity the Internet of things and services. Foundation support could help Japan Display to develop large-scale production of OLED displays and to develop new liquid-crystal displays.
Financial year ended in March, was for Japan Display’s second consecutive losing year. The net loss of the company from April to September amount to about 145 million dollars.
Fund INCJ is the main co-founder of the Japan Display. At the time of the creation of a joint venture involving Hitachi, Sony and Toshiba it contributed about 1.7 billion dollars.
Source: CDR info