Japan Display Inc. (JDI) director and former CEO Scott Callon told shareholders on Saturday that the company will meet their expectations by returning to profitability as soon as possible.

At the beginning of a general shareholders' meeting Saturday, Callon said that his management skills were inadequate. He stepped down as CEO after JDI suffered the 11th consecutive annual net loss.

The meeting was attended by 115 shareholders, with 12 asking questions.

The struggling maker of small- and medium-size liquid crystal display panels plans to end production at its flagship Mobara plant in Chiba Prefecture and cut about 1,500 jobs in Japan.

"We'll reduce our workforce and plants to an appropriate scale for our current situation so that we can become profitable with our current sales," said Jun Akema, who succeeded Callon as CEO on June 1.

During the meeting, which lasted an hour and 39 minutes, all three proposals were approved, including those to spin off its automotive display business and to appoint Callon and four other directors.

Callon will become nonexecutive chairman of the company's board and support Akema without pay.

JDI was established in 2012 through the merger of the LCD panel operations of Hitachi Ltd., Toshiba and Sony, now Sony Group.

Facing competition from Chinese and South Korean rivals, however, JDI logged a consolidated net loss of ¥78.22 billion for the year that ended in March 2025.

To diversify its operations, JDI is currently expanding into the sensor and semiconductor sectors while scaling down its unprofitable smartphone LCD business.