Taiwan’s TPK declines to invest $230 million in Japan Display

Japan display

TPK Holding Co Ltd has now notified Japan Display Inc that it will no longer invest a total of $230 million in the iPhone screen maker.

Japan Display has been struggling to get out of the impact of the decline in the prices of iPhone as well as the company’s migration to organic light-emitting diode (OLED) screens.

It would be recalled that the iPhone screen maker was expecting TPK and other Chinese investors would invest in the company.

The company said it was expecting a total of $740 million.

However, Japan Display said Cosgrove Global Ltd and Topnotch Corporate Ltd, a Chinese consortium has not given any update on its plan to inject $130 million in the company.

Another consortium led by Oasis Management Company Ltd and Harvest Group could decide their investment decision by the 27th of June.

Japan Display was formed by a merger of Hitachi Ltd, Toshiba Corp and Sony Corp screen making business in 2012 and the company went public in 2014.