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Japan Display to shut 2 Japan LCD lines, take US$123 million charge

[TOKYO] Japan Display Inc said on Wednesday that it would close two liquid-crystal-display production lines in Japan as it seeks to boost profitability and raise funds for next-generation technologies.

The company is also considering consolidating, including the partial sale of, its Chinese manufacturing subsidiaries.

In addition, it will introduce an early retirement programme for employees in Japan aged 45 and over, the Apple Inc supplier said in a statement.

Japan Display will book an impairment loss of about 14 billion yen (S$170.4 million) for restructuring costs in the fiscal year ending this month.

REUTERS

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