Japan Display in talks for 90b yen support from Ichigo: source

[TOKYO] Struggling Japan Display, a supplier to Apple Inc, is in talks to receive up to 90 billion yen (S$1.13 billion) in financial support from Ichigo Asset Management, a source with knowledge of the matter said on Thursday.

Japan Display, which last month reported its 11th straight quarterly loss, said in a statement it was in talks with Ichigo for investment and planned to discuss reaching a basic agreement on fund procurement from the asset firm at a board meeting on Thursday.

It added that the 90 billion yen figure was not something the company had announced.

The source requested anonymity because the talks are private.

REUTERS