Japan Display, being an Apple supplier, posted a report which showed again a drop in its net loss for 11th quarter in a row on the back of sluggish display trades and restructuring expenditures as the cash-squeezed company struggles to provide a bailout deal with Apple and some other large investors.
The LCD producer for smartphones, which gets a significant part of its proceeds from Apple, reported a net loss of 25.4 billion yen or 233 million of dollar equivalent for a quarter, that ended in September, significantly wider than 7.8 billion loss, marked in the previous year.
The Japan Display is in its cash-squeezed state for the last half a decade due to worsened Apple iPhone trades and the postponed adoption of OLED screens, that limit a full-year earnings' perspective.
Japan Display seeks to attract at the very least 50 billion yen, having forced to struggle after China’s Harvest company suddenly came out of an escape plan.
As for the bailout financial resources, Apple plans to invest leastwise $200 million, according to sources familiar with the matter. Meantime Hong Kong-based Oasis Management could contribute the additional $150-180 million, Japan Display has told.
Fears regarding an immediate cash underage have been eased due to Apple’s consent to diminish payment periods, a source acknowledged with the issue.