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Apple bailout in play as Japan Display loses Chinese backer

Harvest Tech pulls out from $580m pledge over governance differences

Apple is said to be weighing a $200 million investment into its supplier Japan Display.   © Reuters

TOKYO -- Troubled LCD maker Japan Display has been notified that China's Harvest Tech Investment Management will not go forward with a planned 63 billion yen ($585 million) bailout, the company said Thursday, essentially sending its restructuring plan back to square one.

The liquid crystal display maker, known as JDI, said the investment fund had cited an issue relating to corporate governance. Harvest's infusion was supposed to form the bulk of an 80 billion yen rescue package that included a Hong Kong investor.

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