{"id":96493,"date":"2019-07-12T05:15:19","date_gmt":"2019-07-12T05:15:19","guid":{"rendered":"https:\/\/appleinsider.com\/articles\/19\/07\/12\/japan-display-inks-738m-bailout-deal-including-reported-100m-from-apple"},"modified":"2019-07-12T05:15:19","modified_gmt":"2019-07-12T05:15:19","slug":"japan-display-inks-738m-bailout-deal-including-reported-100m-from-apple","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2019\/07\/12\/japan-display-inks-738m-bailout-deal-including-reported-100m-from-apple\/","title":{"rendered":"Japan Display inks $738M bailout deal, including reported $100M from Apple"},"content":{"rendered":"

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By Mikey Campbell<\/a>
Thursday, July 11, 2019, 10:15 pm PT (01:15 am ET)<\/span> <\/p>\n

Ailing LCD manufacturer Japan Display on Friday said a consortium led by China’s Harvest Group has successfully raised the requisite funds to execute an 80 billion yen (about $738 million) bailout plan, $100 million of which is thought to come from Apple.
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After months of negotiations, Harvest agreed to increase<\/a> its investment in JDI to meet the 80 billion yet target, reports Reuters<\/em>.<\/p>\n

Harvest was reportedly willing to invest nearly $500 million<\/a> to keep JDI afloat. In June, JDI confirmed the amount, adding that a single customer had agreed to a $100 million infusion as part of Harvest’s offering. <\/p>\n

Previous reports identified Apple<\/a> as the mystery JDI investor. Apple is JDI’s most important customer, with the tech giant’s iPhone LCD panel orders accounting for some 60% of JDI’s revenue for the 2018 fiscal year.<\/p>\n

Apple was originally expected to make its investment through TPK Holding, a Taiwan-based display maker in talks to kick $230 million into the bailout pool. TPK stepped away from the deal in June.<\/p>\n

Alongside Harvest, Hong Kong-based Oasis Management will invest between $150 million to $180 million. According to today’s report, Oasis has offered to furnish additional funds to offset potential currency fluctuations. JDI plans to formalize the bailout at a shareholders meeting in August, the report said. <\/p>\n

JDI is a joint venture that combined the display arms of Hitachi, Sony and Toshiba in a bid to better compete with Korean powerhouses Samsung and LG Display. While the company enjoyed some early success, it erred by investing heavily in LCD production and largely ignoring a wider industry trend toward OLED panels. <\/p>\n

Apple became intertwined with JDI after fronting a large sum to help the display maker build a $1.5 billion panel factory in 2015. JDI now finds itself in arrears and with a funding shortfall as the iPhone maker and others reduce LCD orders on a path toward OLED. <\/p>\n

In addition to the supposed $100 million investment, Apple has agreed to slow JDI’s debt repayment timeline and potentially increase orders to stabilize the firm’s finances. Reports also suggest Apple this year awarded JDI a portion of future Apple Watch OLED panel orders<\/a> as the company works to shift production away from LCD technology. <\/p>\n

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  By Mikey Campbell Thursday, July 11, 2019, 10:15 pm PT (01:15 am ET) Ailing LCD manufacturer Japan Display on Friday said a consortium led by China’s Harvest Group has successfully raised the requisite funds to execute an 80 billion yen (about $738 million) bailout plan, $100 million of which is thought to come from […]<\/p>\n","protected":false},"author":2,"featured_media":96494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[155],"class_list":["post-96493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apple-insider","tag-iphone"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/96493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=96493"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/96493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/96494"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=96493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=96493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=96493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}