Japan Display Inc. said Monday that China's Harvest Tech Investment Management Co. has notified it that the fund will postpone making a final decision until June 27 on whether to offer financial aid to rescue the struggling Apple Inc. supplier.
The move by the fund, part of a consortium that has been considering a capital injection of up to ¥80 billion ($740 million), means Japan Display failed to formally secure the fresh funding ahead of its annual shareholders' general meeting Tuesday.
Of the consortium's two other members, Taiwanese panel-maker TPK Holding Co. has dropped out from the bailout plan, Japan Display said in a statement.