Japan Display (JDI) is a small/medium display maker, formed in September 2011 by the merger of Sony’s, Toshiba’s and Hitachi’s display businesses and funded by Japan’s government fund Innovation Network Corporation (INCJ), which holds 70% of the shares.
JDI considers OLEDs to be the “core technology” of the next generation small size and medium size displays, and in 2017 the company announced that it is going to perform a "last-chance" restructuring to focus on OLEDs as there is "no future for the smartphone panel business without OLED". JDI requires around $1.7 billion to start OLED production, and is now raising the funds needed - looking for partners in Japan and China.
In August 2014 JDI, together with Sony, Panasonic and INCJ, launched JOLED to develop and produce printed OLED panels. In December 2016 JDI raised $635 million from INCJ to increase its stake at JOLED - but this plan was halted later in 2017.
The latest JDI news:
Japan Display recently secured a 80 billion Yen (around $740 million) bailout plan from the China-based Harvest Group, Hong Kong-based activist investor Oasis Management and an unnamed JDI customer - which is likely to be Apple.
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to shift to OLED displays in time. JDI now announced that it is extending the shut-down of its Ishikawa LCD fab due to slow demand for LCD displays from Apple. JDI is talks with the Harvest Group to convert the fab to OLED production.
END: RiTDisplay and PlayNitride to supply Apple with MicroLED displays for its next-gen Watch device
Apple is currently using an LGD 1.57" 394x324 LTPO AMOLED display (1.78" 448x368 on the larger 44mm version) in its latest Watch smart wearable device. Apple's involvement in Micro-LED displays started in 2014 when it acquired LuxVue, and it was always assumed that Apple's main aim for the new display technology is to adopt it in wearable devices.
According to a new report from Taiwan, PlayNitride and RiTDisplay are in talks with Apple to supply microLED displays for Apple's next-generation Watch wearable. A micro-LED display could offer much higher brightness and efficiency compared to an AMOLED display, both of which could be highly desirable in wearable devices.
Japan Display (JDI) announced that it has finally secured the 80 billion Yen (around $740 million) bailout plan. The large investment will come from the China-based Harvest Group, Hong Kong-based activist investor Oasis Management and an unnamed JDI customer - which is likely to be Apple.
Japan Display says that it plans to hold a shareholders meeting on August 29th to formalize the bailout plan.
Japan Display was supposed to get a $2.1 bailout deal led by Taiwan's TPK and the Harvest Group. TPK was supposed to invest $230 million, but the display maker announced that it decided not to invest in Japan Display after all. JDI also says that it has not yet received a positive commitment from other potential investors.
JDI did disclose that it approached Apple for help (JDI is a major LCD supplier to Apple) and Apple is considering to waive its debt, guarantee display orders and also invest around $185 million directly in JDI.
Last month Reuters detailed the upcoming $2.1 bailout deal for Japan Display, led by a group of investors from Taiwan and China, including TPK and the Harvest Group. TPK and the HG are supposed to invest 80 billion Yen, but a new report from Reuters says that the plan is not finalized yet.
In what could just be a negotiating tactic, Reuters reports that the company informed JDI that they have not made a decision yet and are now "re-examining the prospects for Japan Display’s business performance". In any case it seems that JDI's future is not secure yet.
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to shift to OLED displays in time. In 2017 JDI announced it is beginning to seek funds for the change in focus, and since then we have heard of several plans in place.
Reuters now details the upcoming $2.1 bailout now being prepared for JDI. According to Reuters, a group of investors from Taiwan and China, led by TPK and the Harvest Group will invest 80 billion Yen (around $720 million) in JDI. In addition, the Japanese government INCJ fund will provide 77 billion Yen in bonds and will also accept a debt-to-equity swap worth 75 billion. The total deal is worth around $2.1 billion.
According to Reuters Japan Display has signed a deal with Apple to supply OLED screens for Apple's 2019 Watch device. Reuters gets its information from "two sources familiar with the matter".
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to understand how quickly the industry will shift to OLED displays. JDI said it will need to raise $1.7 billion if it was to start OLED mass production (hopefully by the end of 2019).
According to Japan's Kyodo News Agency, a group of investors from China and Taiwan have agreed to invest 60-80 billion Yet ($540-721 million USD) in order to bailout JDI. The lead investors will apparently be China's state-backed Silk Road Fund and display maker TPK from Taiwan. In exchange for the investment, the group will take a 30-50% stake in Japan Display.
More and more reports suggest that Apple's 2018 iPhone lineup (to be introduced in September 2018) will include two OLED models and one LCD models. A few days ago it the Nikkei Asian Review said that Apple's 2018 OLED iPhone launch orders will be 20% lower compared to 2017, amounting to 80 million panels.
Now the Korean site The Bell says that Apple ordered 45 million 6.5" OLED panels from SDC for the iPhone Xs Plus and only 25 million for the smaller 5.84" iPhone Xs - to a total of 70 million panels. For the lower-end LCD model, Apple ordered only 30 million panels from Japan Display.
In August 2017, Japan Display announced a strategic focus on OLED displays as the losing display maker failed to keep up with the industry shift to OLEDs. JDI announced it will need to raise $1.7 billion as it aims to start OLED mass production in 2019, and the company started to look for partners for this project.
JDI is now set to raise around $520 million, offering new shares and selling some of its assets. JDI will offer new shares to 30 foreign funds, to Japan's LED make Nichia Corp and also JDI's largest stakeholder, the government-backed INCJ. This money will be be used to advance the company's LCD production, and the company hopes these funds will enable it to find the OLED partners and raise the $1.7 billion required for OLED production.