Japan Display Early Reconstruction Plan Can Be Rebuilt September 27 0:11
Liquid crystal panel manufacturer Japan Display, which is under management restructuring, announced that a Chinese fund that had agreed to receive support has announced its policy of leaving the support framework. Although there are no problems with the cash flow for the time being, the question is whether or not the reconstruction measures can be reconsidered early.
Japan Display fell into a difficult financial situation due to sluggish liquid crystal panel business for smartphones, etc. By receiving a total of up to 80 billion yen investment from Harvest Tech in China and Oasis in Hong Kong I agreed.
However, China's “harvest tech”, which was the largest support destination, has reported its policy of moving away from the agreed framework because of the difference in views about the way of support on the 26th.
Japan Display will continue to negotiate with Harvest Tech in order to keep the agreement, and will also consider looking for other support destinations. In addition, it is said that we are also willing to support more than 20 billion yen if we meet certain conditions from the US counterpart Apple.
At the press conference on the night of the 25th, Japan Display's Satoshi Kikuoka, Chief Financial Officer, said that there were no problems with funding for the time being. Not. "
However, if the company has fallen into a debt surplus of 77.2 billion yen at the end of June and cannot receive the support as expected, it is said that “business continuity may be difficult”.
Japan Display plans to hold an extraordinary general meeting of shareholders on the 27th, and will carefully explain the changes in the framework and decide on the necessary procedures to receive support. Searching for support destinations has changed two or three times, so it is necessary to re-develop reconstruction measures at an early stage.