Japan Display Inc. said it has received a promise from a government-backed fund for financial support, with the maker of smartphone displays facing a sales slump.
Japan Display Chairman and Chief Executive Officer Mitsuru Honma said in a news conference Tuesday that the Innovation Network Corp. of Japan (INCJ) has told his firm that it will provide "full support" to the supplier for Apple Inc.
The aid from the fund, which is already the biggest shareholder in Japan Display, could amount to tens of billions of yen, including investment for production of next-generation organic electroluminescence panels. Honma was mum about details of support from the INCJ.