U.S. Markets open in 2 hrs 47 mins

Japan Display talking to Apple and Sharp for factory sale

Investing.com – Japan Display Inc (T:6740) is in talks with Apple Inc (NASDAQ:AAPL) and Sharp Corp to sell its main smartphone screen factory for $730 million to $820 million.

According to the Nikkei business daily, the Japanese company is cash-strapped and a “customer”, which is believed to be Apple (NASDAQ:AAPL), would provide financial support of $200 billion.

Japan Display built the factory for $1.5 billion four years ago and reportedly owned Apple (NASDAQ:AAPL) over $800 million.

Sharp said it had received a request from a client to consider buying Japan Display’s Hakusan plant.

“We are carefully considering it, reviewing the impact that any purchase would have on our earnings, and whether and how much risk it would entail,” Sharp confirmed in a statement.

On Friday morning, share prices of Japan Display rose 2.74%.

Related Articles

Hyundai Development says consortium closes $2.2 billion acquisition of Asiana Airlines

Tesla Confirms $1.6 Billion in China Bank Financing for Factory

Japanese watchdog orders Japan Post units to suspend insurance sales for three months: NHK