Japan Display, a liquid crystal panel maker under restructuring, posted a net loss of 22.9 billion yen for the nine months until December last year due to the sluggish business for smartphones.
According to the announcement, sales for the nine months to December last year were 272.5 billion yen, 29.7% less than the same period of the previous year, and the final loss was 22.9 billion yen.
Apple, a major customer, adopted organic EL for the display of the latest smartphone models, and the decrease in sales of LCD panels affected the business performance.
Due to the global shortage of semiconductors and the decrease in production by automobile manufacturers, the business for automobiles is also expected to decline, and the operating loss, which indicates the profit of the main business for the year to March, is expected to be 29.6 billion yen.
Japan Display is a company that integrates the LCD panel businesses of Hitachi, Toshiba, and Sony, and has been in the final deficit for the sixth consecutive year until the settlement of accounts last year, and is proceeding with the restructuring of management.
Chairman Scott Caron said at an online press conference that he would turn operating profit into the black by the end of 2022. We will continue to transform our business while managing our business. "