Japan Display forms alliance with China's HKC on chip fabs, auto displays (updated)
10/04/2023 03:43
(Adds shares, comment from CEO, details)
TOKYO, April 10 (Reuters) - Japan Display Inc 6740.T
said on Monday it has formed an alliance with China's HKC
Corporation Ltd (HKC) to cooperate on next-generation OLED
technology, chip fabrication, and auto displays, sending the
Japanese company's shares 10.5% higher.
Japan Display and HKC will jointly plan and build fabs using
Japan Display's eLEAP OLED technology, targeting mass production
in 2025, the Japanese company said.
Japan Display is planning more than one plant under the
alliance with HKC, Chief Executive Scott Callon told a briefing,
adding the tie-up would bring together Japan Display's
technology and HKC's cost competitiveness.
Japan Display, a maker of phone and computer displays, is on
a restructuring drive to turn around its struggling businesses.
The company is majority-owned by Cayman Islands-based Ichigo
Trust. Callon is also the head of Ichigo Asset Management, an
affiliated Japan-focused investment manager.
Japan Display was formed in 2012 when the LCD businesses of
Hitachi Ltd 6501.T , Toshiba Corp 6502.T and Sony Corp
6758.T merged in a government-brokered deal.
(Reporting by Rocky Swift and Kiyoshi Takenaka; Editing by Kim
Coghill, David Dolan and Jamie Freed)
((rocky.swift@thomsonreuters.com;))