Japan Display Inc. said Friday it will sell part of its panel production facilities in Ishikawa Prefecture to Sharp Corp. for $390 million (¥41.6 billion) in a bid to improve its financial health.
The struggling display-maker said in March it had been in talks with Sharp and "a particular customer," apparently Apple Inc., to sell facilities at its plant in Hakusan.
In March, it said it had agreed with the customer, now confirmed as the U.S. technology giant by sources close to the matter, to sell part of its plant facilities for $200 million, and on Friday it said it had agreed to sell additional facilities to Apple for a further $85 million.