Japan Display support agreement Chinese fund withdrawal policy September 26 18:28
It turned out that the Chinese fund that had agreed to support the liquid crystal panel maker “Japan Display” management restructuring policy has been transferred to the company. Japan Display will be forced to rethink its reconstruction plan.
Japan Display will receive a total of up to 80 billion yen from the Chinese fund “Harvest Tech” and the Hong Kong fund “Oasis” in preparation for reconstruction due to sluggish financial conditions such as LCD panel business for smartphones. Agreed.
However, according to the person concerned, China's “Harvest Tech” of the support recipients has recently informed Japan Display that it has moved away from the support framework.
If Harvest Tech was to become the biggest support destination and left, it would have to undergo a radical restructuring.
At the end of June, Japan Display had a debt surplus of 77.2 billion yen. On the 27th, it was scheduled to open an extraordinary general meeting of shareholders and make decisions on procedures for obtaining financial support.