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Business deals

Apple supplier JDI to sell plant to Sharp for $386m

Cash will go to repay iPhone maker for investment on idle LCD factory

JDI's factory in Hakusan, Japan, opened in 2016 but has been idle since July 2019.

TOKYO -- Struggling Apple supplier Japan Display plans to sell a smartphone screen factory and the land it sits on to Sharp for 41.2 billion yen ($386 million), the company has announced.

A deal for the Hakusan liquid crystal display plant in Ishikawa Prefecture, along with sale of equipment there to a customer believed to be Apple, will earn Japan Display $668 million while cutting excess capacity that has weighed on earnings.

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