In May 2014 it was reported that Japan Display may setup an OLED joint venture together with Sony and Panasonic. Today Kyodo news confirms this report, and says that the three companies will indeed form a new company (which will be called JOLED) that will develop small and medium OLED displays - mostly for tablet devices. The official announcement is expected soon.
JOLED will receive and investment from the Innovation Network Corporation of Japan, a public-private investment fund. Similarly to JDI itself, the INCJ will hold 70% in the new company. JDI will hold 20% and Sony and Panasonic will each own 5%.
Sony and Panasonic canceled their OLED TV joint venture in December 2013. A few months later, Panasonic also withdrew from the OLED lighting market. We do not know if Panasonic will continue with OLED TV development. Sony will continue developing its own OLED displays, according to this report, for high-end broadcasting and medical equipment. It's also likely that Sony will continue with OLED TV development.
JDI was formed in November 2011 by Sony, Hitachi, and Toshiba who combined their small/medium panel production capabilities and received $2 billion from Japan's Innovation Network Corp (INCJ).