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Business deals

Apple supplier Japan Display inks bailout with Chinese rescuers

Uncertainty remains as timing of $760m payment faces delays

A signboard of Japan Display is seen at one of its factories in Japan's Chiba prefecture.    © Reuters

TOKYO -- Cash-strapped LCD maker Japan Display announced Wednesday that it has signed an agreement to receive 80 billion yen ($756 million) in assistance from China's Harvest Tech Investment Management and other investors.

The Apple supplier will also borrow 20 billion yen from its top shareholder, the state-backed Innovation Network Corp. of Japan, to fund its operations for the time being. But the company's path to recovery remains uncertain after a drawn-out search for white knights that suffered various setbacks.

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