Basic agreement to raise 90 billion yen from JDI asset management company under management restructuring Dec. 18:29
Japan Display, a liquid crystal panel manufacturer under restructuring, announced that it has reached a basic agreement to raise up to 90 billion yen from an independent asset management company based in Singapore. Since the financial support framework has often fluctuated, attention will be paid to whether it will be realized this time.
According to the announcement, Japan Display reached a basic agreement on December 12 to receive financial support from Ichigo Trust, an asset management company based in Singapore. The amount raised will be from 80 billion yen to 90 billion yen, and the final contract will be concluded within the next month, with the goal of completing funding by March next year.
In addition, it is said that Apple, which is a major business partner for smartphone displays, has received intentions to support more than 20 billion yen by purchasing a part of production facilities at the Hakusan Factory in Ishikawa Prefecture.
Japan Display, which was established by integrating the LCD panel business of Hitachi, Toshiba, and Sony, has suffered an excess of debt exceeding 100 billion yen due to sluggish LCD business for smartphones. We continued negotiations to receive. However, the support framework has often been shaken, with the Chinese fund that had been agreed once turned over and withdrawn.
Japan Display is still discussing support with funds from Hong Kong, etc., but if the talks are not settled within the year, it is said that a final contract will be concluded with Ichigo Trust, and it will be noticed that this will be realized.