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:
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.
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 raise funds to accelerate its OLED plans and prepare for mass production in 2019.
In October 2017 Japan Display estimated that it will require more than 200 billion Yen (around $1.77 billion USD) to start mass producing OLEDs in 2019, and the company started reaching out to display makers in China and Korea as finding a partner in Japan is difficult. JDI hoped to finalize its financing by March 2018, but according to a new report from Japan the investors in China, while initially eager to participate, are now hesitating.
In August 2016 Sharp said that it wants to collaborate with Japan Display to co-develop and produce OLED displays. JDI responded saying that Sharp did not actually reach out regarding such a collaboration, but it seems that Sharp did not give up on that idea.
Sharp's stock returned to the Tokyo Stock Exchange first section after a year of absence, and the company's president told Reuters that it is going to ask Japan's government it help it form an alliance with JDI. Sharp is also considering an investment in JOLED.
As we just posted, Japan Display has decided to halt its plans to turn its minority stake at JOLED into a majority one, and so JOLED is now seeking external financing to support its plan to start mass producing OLEDs in 2019 at the JDI plant in Nomi, Ishikawa (which currently makes LCDs, but will be shut down towards the end of 2017).
According to the Nikkei Asian Review, JOLED aims to raise 100 billion Yen (almost $900 million) from Japanese companies, and it has already approached Sony, Canon, Fujifilm, Nikon and Sumitomo. If this plans fails JOLED may turn to foreign companies, including Chinese ones.
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 said it will need to raise new funds in order to accelerate its OLED plans and prepare for mass production in 2019.
JDI estimates that it will require more than 200 billion Yen (around $1.77 billion USD) to start mass producing OLEDs in 2019. JDI is now looking for financing partners that will help fund the company's OLED project. It is estimated that it will find it difficult to find a partner in Japan and so JDI is looking for Chinese and Korean display makers. According to the Nikkei Asian Times BOE and CSoT already expressed interest.