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Japan Display eyes at least ¥50B funding deal

Japan Display Inc. is expecting to receive at least ¥50 billion in commitments via a deal the company expects to close this month, Reuters reported, citing an interview with newly appointed CEO Minoru Kikuoka.

Chinese investment firm Harvest Tech Investment Management Co. Ltd. withdrew from its planned investment in the Japanese company. But in response, Apple Inc., which has been Japan Display's customer for liquid crystal displays, stepped up by considering to double its investment in the embattled company to US$200 million.

Hong Kong-based Oasis Management Co.Ltd. plans to contribute US$150 million to US$180 million.

The Suwa Investment Holdings LLC joint venture earlier intended to invest ¥80 billion to acquire control of Japan Display, until investors, such as CGL Group and Taiwan's TPK Holding Co. Ltd. backed out of the plan.