Japan Display during business restructuring 6th consecutive final deficit June 30 22:41
Japan Display, a liquid crystal panel maker that is currently undergoing a business restructuring, recorded a deficit of over 100 billion yen for the sixth year in a row for the final loss due to structural reform costs. However, with the support of the asset management company, the situation of debt overrun has been resolved.
Japan Display, which was launched by the integration of the LCD panel business by Hitachi, Toshiba, and Sony, announced last year's financial results, which had been delayed due to the new coronavirus.
Sales were 504 billion yen, 20% less than the previous year, and the final loss was 101.4 billion yen.
The final deficit is the sixth consecutive year.
This is because the demand for LCD panels for cars and smartphones decreased due to the spread of the new coronavirus, and the cost of structural reform such as recruitment for early retirement last year was expensive.
On the other hand, the problem of debt overrun, which had been a problem, has been resolved, because the investment was received from a Singapore-based asset management company.
President Minoru Kikuoka, who held an online press conference, said, “The structural reform has significantly improved the management situation. I would like to do my best to bring it to a constitution that can generate profits.”
Regarding the negotiations for the sale of the Hakusan Factory in Ishikawa Prefecture, which is continuing with Sharp, he said that the negotiations are in the final stage, and he expressed his intention to reach an early agreement.