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Business deals

Japan Display looks to secure $1bn bailout this week

Chinese-Taiwanese investors seek concessions from Apple in deal

Panel maker Japan Display Inc. appears headed for a fifth straight year of red ink covering the 12 months ended March 31. (Photo by Hideaki Ryugen)

TOKYO -- Japan Display is nearing a deal to secure over 110 billion yen ($991 million) in rescue funds from backers at home and abroad, the perennially ailing panel maker said Monday.

"This week the company is aiming to reach an agreement with certain parties that will lead to [financing of 60 billion yen to 80 billion yen] through the issuance of stock and bonds and a total capital increase of more than 110 billion yen," Japan Display, also known as JDI, said in a news release.

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