Asia Express - Display
JDI Seeks Alliance with Taiwanese and Chinese Partners for More Apple's Orders
April 02, 2019

JDI (Japan Display Inc.) recently revealed the possible funds of 100 billion Yen (USD898 million; USD1 = 111.38 Yen) from Taiwan's TPK and Fubon Group, and China's Harvest Fund Management Group, as well as Japan's public-private investment fund INCJ, the Nikkei Asian Review reported on April 2. Being the joint venture established in 2012 by Hitachi, Toshiba, and Sony after they merged their LCD (Liquid Crystal Display) operations, JDI has been suffering from losses owing to lackluster iPhone sales over the years. INCJ is currently the largest shareholder of JDI with a stake of over 25%. According to the source, the China-Taiwan consortium is set to bail out JDI for 60 billion Yen (USD538.7 million) and secure 40% of the voting rights in JDI. Meanwhile, JDI hopes to complete the deal by fiscal 2018. With JDI producing OLED panels and TPK supplying touch-control modules, this alliance will help consolidate their position in Apple's supply chains. When the bailout is done, the consortium will then earmark 500 billion Yen (USD4.49 billion) to help JDI build a new OLED production line in China. The new line is slated for mass production in 2021 with a monthly capacity of 4 million units.