Japan Display ends partnership talks with China's HKC (updated)
29/09/2023 06:19
(Recasts on company announcement, adds MOU in paragraph 4)
TOKYO, Sept 29 (Reuters) - Japan Display 6740.T said
on Friday it has ended talks with China's HKC Corp over
co-operation on next-generation display technology and will
limit collaboration to high-end automotive displays.
The talks, launched in April, were aimed at building
display-making plants in China using Japan Display's eLEAP OLED
technology with mass production to start in 2025. In June, they
had delayed the deadline for an agreement to September.
The companies could not agree on the licensing fee HKC was
to pay for Japan Display's technology, while China's economic
slowdown and HKC's recent withdrawal of its initial public
offering to the Shenzhen Stock Exchange likely affected the
talks, the Nikkei business daily reported earlier.
Separately, Japan Display said it had signed a memorandum of
understanding with the local government in the eastern Chinese
province of Anhui to build panels there and is targeting a final
agreement by year-end.
(Reporting by Kantaro Komiya and Sam Nussey; Editing by
Chang-Ran Kim and Jacqueline Wong)
((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))