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Japan Display Inc responds to media reports on
Over the weekend several media reports suggested that about a capital increase at Japan Display Inc. However, JDI says that it never made such an announcement.
The company says that it had already announced that it is engaged in negotiations with external parties in cooperation with INCJ, Ltd., the display maker’s largest shareholder.
This week JDI says in an update that it is aiming to reach an agreement with certain parties that will lead to JPY 60 - 80 billion (EUR 480 – 640 million) financing through the issuance of stock and bonds and a total capital increase of more than JPY 110 billion (EUR 880 million) based in part on INCJ’s refinancing of existing credit to JDI by underwriting preferred shares.
The company says that it will provide more information as soon as an agreement has been reached
