Japan Display Seeks Huge Bailout
Struggling Japan Display, a supplier to Apple, is in talks with Ichigo Asset Management as it looks for up to 90 billion yen in financial support.
The smartphone display maker said it planned to discuss reaching a basic agreement on fund procurement from Ichigo at a board meeting this week.
Japan Display also said the ¥90 billion figure was not something the company had announced.
Last month Japan Display reported its 11th consecutive quarterly loss, has been scrambling to raise at least ¥50 billion after Chinese investment firm Harvest pulled out of a bailout plan. Apple reportedly intends to invest $200 million in the Japanese company.