(Yicai Global) Dec. 21 -- Organic LED maker Japan Display Inc. is in talks with three Chinese investors to raise JPY200 billion (USD1.8 billion) to augment its production capacity.
The firm is negotiating with BOE Technology Group Co. [SHA:000725], Shenzhen China Star Optoelectronics Technology Co. and Tianma Microelectronics Co. [SHE:000050], Kyodo News reported today. Japan Display hopes to reach an agreement by March 2018 as it is facing cash flow difficulties, the report added.
The Japanese company forecasts a net loss of JPY170 billion at the end of its fiscal year in March 2018, compared with a loss of JPY31.5 billion last year.
Japan Display devised a reorganization plan on Aug. 9, after three years of losses. It initially looked to Hon Hai Precision Industry Co., [TSE:2317], better known as Foxconn, China Star and Tianma, but couldn't set anything in stone.