According to a report in The Wall Street Journal, the government-backed industrial innovation agency (InnovaTIon Network Corp. of Japan; INCJ) said on the 21st that it will further invest up to 750 to Japanese panel maker Japan Display Inc. (JDI). Funds of 100 million yen (about RMB 4.43 billion). JDI said in a statement that it will issue 45 billion yen in convertible bonds to INCJ. In addition, Japan Display will receive a 30 billion yen subordinated loan from INCJ.
INCJ is a fund institution funded by the Japanese government and the largest shareholder of JDI. There was news last month that JDI is trying to get a capital injection from INCJ. Currently, Japan Display is still a major supplier of Apple's iPhone series of smartphone panels and one of many smartphone LCD screen suppliers. However, due to the slowdown in global mobile phone sales and competition from Korean and Chinese manufacturers, JDI has suffered losses for two consecutive years, and 2016 has not shown any signs of improvement.
JDI said it will use OLED screen technology after acquiring the funds from INCJ. According to foreign reports, JDI's big customer, Apple, will turn the next generation of iPhone products to use OLED screens. In addition to JDI, competitors Samsung and Sharp also need a lot of money to develop OLED, which will win more orders for iPhone and other smartphones.
The Wall Street Journal quoted Amir Anvarzadeh, head of securities sales at BGC Partners in Japan, as saying that JDI's cash is almost exhausted, and the new funds will be used primarily for OLED R&D and restarting idle LCD factories. In addition, JDI's ability to obtain this funding is also a political factor, that is, the Japanese government is not willing to bankrupt. However, Amir Anvarzadeh also said that the development of OLED technology is a long-term investment, and JDI is unlikely to supply OLED panels in large quantities in the short term. Therefore, if you are lucky, it will be possible to supply large quantities in 2019.
In addition, JDI also announced that in order to strengthen the manufacture of new OLED screens, it will acquire the shares of Japanese OLED screen manufacturer JOLED from INCJ in the form of a share swap, increasing its JOLED shares from 15% to 51%, JDI It also said that it is currently trying to reduce its dependence on mobile devices, moving toward automotive, virtual reality (VR) devices, high-end laptops, and medical and educational fields.
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