Kyodo

TPK Holding Co

12/02/2019 10:18

TOKYO, Feb 12 (Reuters) - Ailing Apple supplier Japan
Display Inc  6740.T  will receive up to 80 billion yen ($723
million) in a bailout from a group of Chinese and Taiwanese
investors, Kyodo news agency reported.
    A group including China's state-backed Silk Road Fund and
Taiwanese panel maker TPK Holding Co  3673.TW  will inject
around 60 billion to 80 billion yen, taking a stake of 30-50
percent in Japan Display, Kyodo said, without citing sources.
    The deal, if realised, would make the group the top
shareholder of the liquid crystal display (LCD) maker, replacing
the Japanese government-backed INCJ fund, which currently owns
25.3 percent of the company, the report said on Tuesday.
    A spokesman for Japan Display declined to comment, while
Silk Road Fund and TPK Holding did not immediately reply to
emailed requests for comment.
    The Wall Street Journal has previously reported that the
size of the group's investment in Japan Display could reach
around 60 billion yen. It also reported that Silk Road Fund had
denied it had been in talks with Japan Display.  urn:newsml:reuters.com:*:nL3N1ZO3OB 
    A source familiar with the matter told Reuters that Japan
Display has been in talks with multiple investors over the
investment and is aiming to clinch a deal by the end of March.
    But the source, who declined to be identified because the
talks are private, did not give details of the potential deal.
    The Apple Inc  AAPL.O  supplier has struggled with losses
due to competition from cut-price Chinese players and slowing
growth in smartphone demand.
    Its delayed adoption of organic light-emitting diode (OLED)
screens has also battered the LCD maker, as Apple opted for OLED
screens for its iPhoneX and bought them from rival Samsung
Electronics Co  005930.KS .
 ($1 = 110.6100 yen)

 (Reporting by Makiko Yamazaki and Yoshiyasu Shida; Editing by
Himani Sarkar)
 ((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;))