What you need to know
- Ailing Apple supplier Japan Display Inc. has denied reports of another financial bailout.
- It was previously reported that it had secured 100.8 billion yen ($925M) from Ichigo Asset Management.
- Trading of its shares was suspended in wake of reports of a fresh stake from IAM.
Apple supplier Japan Display has denied having signed a deal worth 100.8 billion yen ($925M), after its shares were suspended over reports.
Yesterday, January 30, it was reported by Reuters that the company's shares were suspended after it was reported that Ichigo Asset Management would inject over 100 billion yen into the company.
Today, a fresh Reuters report seemed to confirm that the deal had been finalized. This morning it reported:
However, a later report from telecompaper claims that Japan Display actually denies this. According to their report:
Both reports seem to confirm that a deal is in the works. Back in December it was reported that the two were in talks. However, there are now conflicting reports with regards to this latest deal, the most recent report suggesting that Japan Display denies having finalized the deal.
Apple remains committed to financially backing the drowning company, despite the company having reported 11 consecutive quarterly losses and the fact that it owes Apple some $800 million, money that was used to construct a plant in Japan.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.
Get the best of iMore in in your inbox, every day!
Thank you for signing up to iMore. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.