TOKYO -- Money-losing Apple supplier Japan Display has agreed to up to a 90 billion yen ($828 million) infusion from the Ichigo Asset Management group, securing a financial lifeline after a rescue plan by a Taiwan-China consortium collapsed in September.
Under the basic agreement announced Thursday, Japan Display, or JDI, will procure 80 billion to 90 billion yen from Ichigo in exchange for common shares and convertible bonds. JDI expects to ink the deal in January, with the transaction taking place in February or March.
