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Japan Display to worsen business environment due to increased infection

2020-03-13T08:34:25.780Z

LCD panel maker Japan Display, which is undergoing business restructuring, said that the business environment was deteriorating due to the spread of the new coronavirus.



Japan Display: worsening of business environment due to spread of infection

Japan Display, a liquid crystal panel maker that is undergoing business restructuring, will receive an additional ¥ 10 billion from a Singapore-based asset management company for the worsening business environment due to the spread of the new coronavirus. Was.

Japan Display has agreed to raise funds of up to ¥ 100.8 billion from Ichigo Trust, an independent asset management company based in Singapore, for radical business restructuring.

According to the announcement on the 13th, the business environment has deteriorated due to the spread of the new coronavirus infection, so the two companies have agreed to receive additional support of 10 billion yen and increase the procurement amount up to 110 billion yen. That is.

At the end of this month, Ichigo Trust will first invest 50.4 billion yen, and another 5 billion yen after the General Meeting of Shareholders in June.

The remaining 55.4 billion yen will be supported while monitoring the status of the business.

Japan Display, which was launched by integrating the panel businesses of Hitachi, Toshiba, and Sony, is suffering from a slump in the liquid crystal business for smartphones and is in excess of debt. This support is indispensable for reconstruction.

`` The spread of the new coronavirus has affected the production of factories in China, and some of the business partners have fluctuated demand, '' said Minoru Kikuoka, president of Japan Display, Inc. at a press conference on the Internet. I have heard that in the future, we will conservatively discuss support measures so that we can achieve business revival no matter what assumptions are made. "

Source: nhk

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