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Business deals

Japan Display agrees to bailout by Taiwan-China group

But deal could be scuppered by Washington on security concerns

Japan Display has struggled to compete with the likes of Samsung Electronics as it focused on LCD while its rivals moved on to develop OLED, a more advanced technology. (Photo by Hideaki Ryugen)

TOKYO -- Japan Display announced Friday that it agreed to receive a bailout of up to 80 billion yen ($717 million) from a Taiwanese-Chinese consortium, sounding the death knell for Japan's once-vibrant display industry.

Taiwanese electronic component maker TPK Holding, Taiwanese financial services institution Fubon Group and China's Harvest Fund Management will replace Japanese public-private fund INCJ as the top shareholder with a stake close to 50%.

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