Japan Display sells Chinese subsidiary in latest restructuring move

Troubled Apple supplier looks for return to profitability

The Japanese maker of LCD displays has suffered continued financial setbacks. (Photo by Karina Noka)

NAMI MATSUURA, Nikkei staff writer

October 29, 2022 05:37 JST

TOKYO -- Japan Display will sell its China-based subsidiary Suzhou JDI Electronics to a local buyer, the money-losing Japanese panel maker said Friday, as it continues to shed assets in a sweeping overhaul.

Suzhou Dongshan Precision Manufacturing Co. will buy all of Suzhou JDI Electronics for 20.5 billion yen ($140 million) in a transaction to be completed between January and March 2023.