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Japan's quest for display king ends as Taiwan-led group buys JDI

State-directed effort to merge Hitachi, Toshiba and Sony units lacked vision

TOKYO -- Japan Display, the government-led venture that combined the liquid crystal display operations of industrial powerhouses Hitachi, Toshiba and Sony, has abandoned its all-Japan playbook and opted to go under foreign ownership.

The decision to receive an injection of up to 80 billion yen ($717 million) in capital from Taiwanese and Chinese investors represents the end of a yearslong attempt by the government to sustain the company -- an effort mired in indecision and a lack of clear vision on how to revive a once-flourishing industry.

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