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JDI: China Fund has confirmed assistance for JDI 80 billion yen. Both parties have officially signed

According to foreign media reports, Japanese display company JDI (Japan Display Inc., referred to as JDI) recently said that it has signed a formal cooperation contract for receiving a maximum of 80 billion yen (about 5.3 billion yuan) of financial assistance from Chinese funds.

As the signing was later than expected, the date of the EGM's official meeting to approve the matter was changed from August 29 to September 27.

Previously, JDI had received a $100 million investment from a customer. Foreign media said that this customer is Apple. In the last fiscal year ending March, Apple accounted for 60.6% of Japan's display revenue.

JDI2018 (as of March 31, 2019) consolidated financial report shows that the final profit and loss was 109.4 billion yen (about 6.85 billion yuan), a loss for five consecutive years.

JDI faces a tough operating environment as smartphone manufacturers turn to organic light-emitting diode (OLED) panels and the increased capacity of LCD panel makers in mainland China. JDI missed many Apple orders because of the slow pace of moving to OLED panels. JDI hopes to obtain external investment and plans to invest the funds in Japan's domestic factories to expand its OLED panel production capacity.

TFT-LCD, AMOLED, and new display technologies including flexible displays, all of which are semiconductor technologies, can be collectively referred to as semiconductor displays. A semiconductor display can be defined as a general term for display technology in which each of the minimum display units is independently controlled by a semiconductor device.