Cash-strapped screen maker Japan Display Inc on Wednesday posted a ninth consecu...
FILE PHOTO: Japan Display Inc's logo is pictured at its headquarters in Tokyo, Japan, August 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo
The company, which is pursuing a bailout deal with a Chinese-Taiwanese group, said its fourth-quarter loss was 98.6 billion yen , compared with the 147 billion yen loss a year earlier. The company also said it took a 75.2 billion yen writedown on one of its panel plants and would slash about 1,000 jobs, or about a tenth of the group’s workforce.
The bailout deal would allow the buyers - including Taiwanese flat screen maker TPK Holding Co Ltd and Chinese investment firm Harvest Group - to become Japan Display’s biggest shareholders with a 49.8 percent stake, replacing the Japanese government-backed INCJ fund.
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