Japan Display Inc., a major supplier of LCDs (Liquid Crystal Display) for smartphones and tablets, is said to raise as much as $200 billion Yen (US$2.02 billion; US$1=$98.805 Yen) in an initial public offering on the Tokyo Stock Exchange by March 2014, as reported by the Wall Street Journal on September 13. The money will be used to expand the company's production capacity for smartphone panels and develop OLED (Organic Light Emitting Display) panel technology. Currently, the state-owned INCJ (Innovation Network Corp. of Japan) controls a 70% stake in Japan Display while Hitachi, Toshiba, and Sony each owning 10%. After the IPO, INCJ will remain the largest shareholder of Japan Display, which is expected to have a market value of as much as US$8 billion, said the report.