Japan Display's chaotic bailout drama baffles shareholders

Troubled Apple supplier tells investors it will keep talking with Chinese rescuer

Japan Display supplies screens for iPhones. © Getty Images

SAKI MASUDA, Nikkei staff writer

September 27, 2019 15:09 JST

Updated on September 28, 2019 02:02 JST

TOKYO -- Japan Display faced exasperated shareholders at a chaotic meeting Friday who wanted know how the company plans to move forward after China's Harvest Tech Investment Management decided to rescind a bailout for the embattled Apple supplier.

In a move highlighting the deep uncertainty facing the company, shareholders approved the company's plan to issue 80 billion yen ($742 million) in new shares that yet to have takers. The company plans to continue negotiating with China's Haverst.