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>> Due to the sluggish demand of Apple, JDI or suspended some factories in Japan 3rd,June,2019
According to foreign media reports, Apple supplier Japan Display Corporation (JDI) is considering shutting down some factories in Japan. JDI is considering the suspension of the Baishan Plant (Baishan City, Ishikawa Prefecture), which manufactures LCD panels for smartphones, for several months. The demand for Apple, the main customer, has been sluggish, which has led to a deterioration in operating rates. The production of the Hakusan Plant for Apple will be handled by the Mobara Plant (Mobara City, Chiba Prefecture). The shutdown will be implemented as soon as possible within June, but will remain in production immediately upon request.
JDI's consolidated financial report for the fiscal year 2018 (as of March 31, 2019) released last month showed a final loss of 109.4 billion yen (approximately RMB 6.85 billion), a loss for five consecutive years.
JDI faces a tough operating environment as smartphone manufacturers turn to organic light-emitting diode (OLED) panels and the increased capacity of mainland LCD panel makers. JDI missed many Apple orders because of the slow pace of moving to OLED panels.
In response to operational difficulties, JDI will collect 1,000 people for early voluntary retirement and reduce the compensation and benefits of managers.
JDI also hopes to obtain external investment, and plans to invest the funds in Japan's domestic factories to expand the production capacity of OLED (organic light-emitting diode) panels.
JDI announced on April 12 that it has reached an agreement with a total of 80 billion yen in financial support from three companies from mainland China and Taiwan. However, the corporate alliance has since announced that it will review the JDI business prospects and postpone the decisions needed to make financial support. According to foreign media reports, the Chinese and Taiwanese business alliances decided whether to implement financial assistance for JDI before June 14.
At the same time, JDI will accept additional assistance from the largest shareholder, the Japanese semi-official fund INCJ (formerly the Industrial Innovation Agency). JDI will transfer all the shares of the related company JOLED (Tokyo) (27.2%) to INCJ to offset the loan of approximately 44.7 billion yen (about 2.8 billion yuan).
JDI also asked Apple, the main customer, to extend the repayment period for some of its debt.
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