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group including China's state-backed Silk Road Fund and
Taiwanese panel maker TPK Holding Co will inject around 60
billion to 80 billion yen, taking a stake of 30-50 percent in
Japan Display, Kyodo said, without citing sources.
The deal, if realized, would make the group the top shareholder
of the liquid crystal display (LCD) maker, replacing the
Japanese government-backed INCJ fund, which currently owns 25.3
percent of the company, the report said on Tuesday.
A spokesman for Japan Display declined to comment, while Silk
Road Fund and TPK Holding did not immediately reply to emailed
requests for comment.
The Wall Street Journal has previously reported that the size of
the group's investment in Japan Display could reach around 60
billion yen. It also reported that Silk Road Fund had denied it
had been in talks with Japan Display.
A source familiar with the matter told Reuters that Japan
Display has been in talks with multiple investors over the
investment and is aiming to clinch a deal by the end of March.
But the source, who declined to be identified because the talks
are private, did not give details of the potential deal.
The Apple Inc supplier has struggled with losses due to
competition from cut-price Chinese players and slowing growth in
smartphone demand.
Its delayed adoption of organic light-emitting diode (OLED)
screens has also battered the LCD maker, as Apple opted for OLED
screens for its iPhoneX and bought them from rival Samsung
Electronics Co.
(Reporting by Makiko Yamazaki and Yoshiyasu Shida; Editing by
Himani Sarkar)
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