Japan Display will team up with China's HKC to cooperate on next-generation technology for displays, it said on Monday, as the Apple supplier looks to turn around its struggling business.
News of the tie-up, coming against the backdrop of Washington's recent push to curb China's ability to make advanced chips, sent Japan Display's shares up more than 13%, putting them on track for their biggest one-day gain in a year.
Formed a decade ago when the liquid crystal display businesses of Hitachi, Toshiba and Sony merged in a government-brokered deal, Japan Display has been selling assets in a drive to return to profit after years in the red.