(Reuters Breakingviews) - Japan Display’s rescue is an embarrassing necessity fo...
FILE PHOTO: Japan Display Inc's logo is pictured at its headquarters in Tokyo, Japan, Aug. 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo
Japan Display was created with government funds in 2012. The idea was to fend off South Korean and Taiwanese rivals by merging Hitachi, Sony and Toshiba’s liquid-crystal display units. The deal created the world’s biggest maker of panels used in smartphones and tablet computers, but the company failed to stay competitive. It has lost money every year since 2015.
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Apple supplier’s rescue leaves Japan red-facedAn investor group is buying two thirds of Japan Display for $714 mln, an embarrassingly low price for a former national champion. The company will fall into foreign hands, some of them Chinese, which could raise red flags. Managers have little choice but to pray the deal closes.
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