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Business deals

Panasonic-Sony OLED display company raises $229m

Funds from INCJ, Sony and Nissha to be spent to upgrade Chiba factory

JOLED's Nomi plant in Ishikawa Prefecture is having manufacturing equipment installed.

TOKYO -- JOLED, which resulted from a merger of Panasonic's and Sony's next-generation display businesses, has raised 25.5 billion yen ($228.9 million), the company announced on Monday.

The money is coming from three parties -- a joint public-private sector fund manager known as the Innovation Network Corporation of Japan, Sony and printing company Nissha -- that will receive new shares issued by JOLED.

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