Japan Display Inc. has signed a deal to receive an ¥80 billion ($715 million) capital injection from a group of Chinese and Taiwanese firms, leaving its revival, initially planned under a Japanese government-backed fund, in the hands of foreign companies.
Japan Display, a key supplier to Apple Inc., said Friday China’s Silk Road Fund and Harvest Tech Investment Management, as well as Taiwan’s TPK Holdings and Fubon Financial Holdings, will together own 49.8 percent of its shares once the payment, due by Dec. 30, is made.
In addition, state-backed INCJ Ltd. will convert part of its commitment lines and other debts in Japan Display to preferred shares, boosting the display-maker’s capital by ¥117 billion in total.