According to news reports on the Wall Street Journal Apple Inc. supplier Japan Display Inc said on Wednesday it would receive ¥75 billion (US$636 million) in aid from its largest shareholder, the government-backed Innovation Network Corp. of Japan.
Japan Display said the funding will combine the issuance of ¥45 billion of convertible bonds to INCJ and a subordinated loan of ¥30 billion from the government-backed fund, which holds 36% of the display maker.
The nation's flagship panel provider and a supplier for Apple’s iPhones, Japan Display has seen its core business slump due to intense price pressure and competition from an alternative-display technology - OLED, displays - being championed by the likes of Samsung and LG Display and more recently Taiwanese and Chinese panle manufacturers.
Japan Display Inc has published the business plans for the new venture - see here
According to published business plans JDI aims to become the leading innovator in the medium-size display market based on printed OLED technologies.
In addition, JDI will gain 230 OLED engineers, and a Gen 4.5 pilot line which started initiallly operating in July 2016 and aims to have a designed and validated mass production manufacturing technology by June 2017.
Figure: Japan Display Inc - Extracts from business plans