TOKYO - Apple Inc supplier Japan Display Inc said on Friday it had not received notice from a Chinese-Taiwanese consortium about a potential 80 billion yen investment, raising the possibility of a critical delay in much-needed cash.
Japan Display said in a statement it would make an announcement once it had received notice from the consortium, which includes Taiwanese flat screen maker TPK Holding Co Ltd and Chinese investment firm Harvest Group. Japan Display is shrinking the smartphone display business to stop cash outflows and seeking to cut 1,200 jobs. It is also temporarily suspending a main display panel plant funded by Apple and closing one of the lines at another main panel plant.
meti_NIPPON MOF_Japan Ask some domestic company to rescue it, stop relying on foreigners.
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