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Japan Display says it has secured funding shortfall for 80b yen bailout deal
[TOKYO] Japan Display said on Friday Chinese investment firm Harvest Group had formalised its decision to fill the shortfall to reach an 80 billion yen (S$1 billion) bailout deal, having secured a US$100 million investment from a JDI customer.
A source has said that client was Apple, which accounted for 60.6 per cent of the smartphone screen maker's revenue in the last financial year ended March.
JDI said it would hold an extraordinary shareholders meeting on Aug 29 after securing the additional funding.