Shareholders of Japan Display Inc. gave approval Friday for the embattled company to receive a bailout from a Hong Kong fund and others, but criticized the display-maker over its Chinese sponsor's withdrawal from the rescue plan announced the previous day.
Minoru Kikuoka, chief financial officer of the key Apple Inc. supplier, offered an apology at an extraordinary shareholders meeting in Tokyo for "causing confusion" over the departure of China's Harvest Tech Investment Management Co., which further increased uncertainty over the firm's business continuity.
Japan Display had agreed to receive a capital injection of up to ¥80 billion ($742 million) from a consortium of Harvest Tech and Hong Kong's Oasis Management Co.