Jiji Press TOKYO (Jiji Press) — A China-Taiwan consortium has again postponed, from mid-June, a decision on investment in Japan Display Inc., JDI said.
The maker of small and midsize liquid crystal display panels made the announcement on Monday.
It was the second time for the Suwa consortium to put off the decision. The group was initially projected to make the investment decision between April and early May.
JDI said it has been informed that investors in the consortium will make “internal resolutions after reexamining the prospects for JDI’s business performance.” JDI stopped short of giving a new timing of the decision.
JDI was established in 2012 through the integration of the small and midsize LCD panel operations of Sony Corp., Hitachi Ltd. and Toshiba Corp.
JDI aims to procure up to ¥80 billion from the consortium, and restructure its operations by developing new LCD panels and organic electroluminescent displays. The company announced the capital reinforcement plan in mid-April.
Some said that the impact from U.S.-China trade friction, on top of concerns over the future business performance of JDI, which is facing severe price competition, was apparently behind the Suwa consortium’s second postponement of the investment decision.
JDI also said it has decided to postpone a joint press conference scheduled for Wednesday.