Japan Display shares jump on latest report of rescue

TPK Holding Co

23/01/2019 02:34

TOKYO, Jan 23 (Reuters) - Shares in Japan Display  6740.T 
jumped 11 percent on Wednesday after a report said the
smartphone screen maker was in talks for funding from Taiwan's
TPK Holding Co  3673.TW  and China's Silk Road Fund in exchange
for a stake of around 30 percent.
    The Wall Street Journal, citing people familiar with the
matter, described the talks as "advanced". Japan Display, which
denied a similar report a month earlier, declined to comment. 
    The Apple Inc  AAPL.O  supplier has struggled with losses
due to competition from cut-price Chinese players and slowing
growth in smartphone demand. Analysts have also blamed its
delayed adoption of organic light-emitting diode (OLED) screens,
as Apple opted for such screens for its iPhoneX and bought them
from rival Samsung Electronics Co  005930.KS .
    Japan Display's biggest investor, the Japanese
government-backed INCJ fund, could not immediately comment while
TPK did not immediately respond to a request for comment.
    Source text: https://on.wsj.com/2Cyw5bv

 (Reporting by Tokyo Newsroom; Additional reporting by Jessica
Macy Yu in TAIPEI; Editing by Muralikumar Anantharaman)
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