Japan Display

Japan Display Inc. (株式会社ジャパンディスプレイ, Kabushiki-gaisha Japan Disupurei) (JDI) is an LCD technology joint venture by Sony, Toshiba, and Hitachi. The Innovation Network Corporation of Japan (INCJ) financed the merger of Sony, Toshiba, and Hitachi's LCD divisions into one entity by investing two hundred billion yen.

Japan Display Inc.
株式会社ジャパンディスプレイ
Public KK
Traded asTYO: 6740
ISINJP3389660006 
IndustryElectronics
Founded(April 1, 2012 (2012-04-01))
HeadquartersLandic Shinbashi Building 2, 3-7-1, Nishi-shinbashi, Minato, Tokyo, 105-0003, Japan
Area served
Worldwide
Key people
Yoshiyuki Tsukizaki (CEO and President)
ProductsDevelopment, production and sale of small- and medium-sized displays devices and related products
Revenue US$ 6.76 billion (FY 2018) (¥ 717.52 billion) (FY 2018)
US$ (2.33 billion) (FY 2018) (¥ (247.24 billion) (FY 2018)
OwnerINCJ (25.3%)
Number of employees
9,840 (as of September 30, 2018)
Subsidiaries10
WebsiteOfficial website
Footnotes / references
[1][2]

JDI has started its operation on April 1, 2012 after it had finalized the agreement between the stakeholders on November 15, 2011.[3]

As of March 2014, JDI was one of the major suppliers of displays for Apple's iPhone.[4] And it was a major display supplier of Nintendo Switch along with Sharp Corporation until 2017.[5]

A newly-created entity INCJ, Ltd. had become the major shareholder of Japan Display with 25,29 % of total shareholdings since September 21, 2018 as a result of a corporate split of the old INCJ.[6]

JDI is mostly dependent on IPS LCD panel sales to Apple, Inc. As of 2020, the company is under financial trouble due to its late decision to manufacture OLED displays. The company owes over US$800 million to Apple. JDI's OLED division, JOLED, has not yet been able to compete with other manufacturers. In 2020, control of the company was transferred to Ichigo Asset Management, a Japanese investment company, in exchange for US$715 million in funding. INCJ and other shareholders still retain a stake in the company. [7][8]

History
  • 2011
  • August 31 - INCJ, Sony, Toshiba, and Hitachi agree to the merger of their respective LCD divisions.
  • November 15 - The agreement is finalized. INCJ and Panasonic begin talks on the acquisition of one of Panasonic's factories.[9]
  • Japan Display, Inc is established.
  • 2012
  • April 1 - Operations begin
  • 2013
  • April 1 - Japan Display West, Japan Display Central, and Japan Display East are merged.
  • October 23 - New Subsidiary "Taiwan Display Inc." is established.
  • 2014
  • 2017
    • JDI has accumulated consecutive losses since its IPO. A restructuring plan was announced in 2017, including closing down a production line in Japan and the layoff of approx. a third of its workforce.[13]
  • 2019
  • Signed a memorandum of understanding to sell 49.82% of the company to Suwa Investment Holdings LLC at a sale price of US$715 million. Suwa was the name of a group of investors, which included the Chinese Silk Road Fund and Harvest Tech Investment Management, Taiwan’s TPK Holdings, and Fubon Financial Holdings.[14]
  • June 12 - JDC discloses that major changes are to be implemented due to sluggish sales in the Mobile Business Division (smartphones and tablets) due to slowing sales of LCD panels. One plant will be closed and another suspends operation. A major reduction of the workforce is also planned.[15]
  • June 27 - $100 million investment was announced by Apple, boosting the stock price of JDI by 32% at the time.[16]
  • December 13: agreed to an US$800 million bailout[17]
  • December 26: Entered talks to sell its factory in Hakusan City, Ishikawa prefecture to Sharp corporation for 80 to 90 billion yen. The factory was partly financed by Apple, which provided US$800 million in funding. It was built in 2015 and began operations in 2016 at a cost of US$1.5 billion, and has been partly idle since June 2019, due to Apple's adoption of OLED displays.[18][19][20][21][22]
  • 2020
  • February: Ichigo Asset management gains control of the company. This terminated the memorandum signed the year before. [23]
  • April 01: Japan Display began to sell LCD production equipment valued at US$200 million to Apple, with plans to sell the factory's real estate to Sharp. This will allow JDI to focus on its remaining product demand and factories.[24]

Technology

JDI has developed several technologies to differentiate its LCD panels from those of its competitors.

  • Active-matrix displays driven by TFTs based on a low-temperature polycrystalline-silicon ("LTPS") process instead of amorphous silicon. These higher performance transistors allow a higher resolution (more ppi = pixels per inch).[25]
  • Most LCDs manufactured by JDI use the In-Plane-Switching concept, as do many of its competitors. JDI has developed an improvement for darker black pixels (true-black appearance), called "IPS-NEO", which reduces the light shining through from the backlighting.[26]
  • The conventional combination of a transparent touch-screen device in front of an LCD panel has been replaced by integrating the touch-screen function into the LCD panel itself, called "Pixel Eyes".[27]
  • For reflective LCDs without backlighting, JDI has developed an addressing technique using a thin-film memory device SRAM in addition to the conventional TFT for each pixel, so that a still image can be stored utilizing a small amount of energy.[28]

See also

References
  1. "Company Outline". Japan Display. Archived from the original on January 8, 2019. Retrieved January 7, 2019.
  2. "Consolidated Financial Results for Fiscal Year 2018" (PDF). Japan Display. Archived (PDF) from the original on January 7, 2019. Retrieved January 7, 2019.
  3. "Sony, Hitachi, and Toshiba Agree to "Japan Display" Joint Venture". DailyTech. November 15, 2011. Archived from the original on November 17, 2011. Retrieved March 23, 2014.
  4. Reiji Murai; Takashi Umekawa (March 19, 2014). "News of IPO by JDI". Reuters. Archived from the original on September 24, 2014. Retrieved September 11, 2014.
  5. https://xtech.nikkei.com/dm/atcl/feature/15/122200045/010400368/?ST=SP&n_cid=nbptec_twbn_sp_t
  6. Notice Concerning a Change in the Largest Major Shareholder. Filing, JDI, 21 September, 2018. Retrieved January 7, 2019
  7. "Archived copy". Archived from the original on 2020-03-29. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  8. "Archived copy". Archived from the original on 2020-04-04. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  9. "Panasonic to Sell TV Panel Factory to New Japan Display Venture". CIO. November 15, 2011. Archived from the original on January 10, 2014. Retrieved March 23, 2014.
  10. "Japan Display Inc. Listed on the First Section of the Tokyo Stock Exchange". Japan Display. March 19, 2014. Archived from the original on April 16, 2014. Retrieved March 22, 2014.
  11. Shinichiro Unozawa (March 19, 2014). "Japan Display IPO 1st fruit of INCJ's investment". Nikkei Inc. Archived from the original on September 11, 2014. Retrieved September 11, 2014.
  12. "Financial information provided by JDI". Archived from the original on 2014-03-28. Retrieved 2014-03-28.
  13. Patrick Welter: Tokios Lehrstück für misslungene Industriepolitik. (in German) Archived 2017-08-13 at the Wayback Machine Neue Zürcher Zeitung, August 11, 2017. Retrieved August 12, 2017.
  14. "Archived copy". Archived from the original on 2020-03-29. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  15. Structural Reforms. Notice by JDC. June 12, 2019. Retrieved June 28, 2019
  16. "Japan Display to receive $100 million investment from Apple, says..." Reuters. 2019-06-27. Archived from the original on 2019-06-27. Retrieved 2019-06-27.
  17. "Archived copy". Archived from the original on 2020-03-25. Retrieved 2020-04-07.CS1 maint: archived copy as title (link)
  18. "Archived copy". Archived from the original on 2020-05-03. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  19. "Archived copy". Archived from the original on 2020-04-23. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  20. "Archived copy". Archived from the original on 2020-04-04. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  21. "Archived copy". Archived from the original on 2019-12-27. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  22. "Archived copy". Archived from the original on 2020-03-29. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  23. "Archived copy". Archived from the original on 2020-03-29. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  24. "Archived copy". Archived from the original on 2020-05-03. Retrieved 2020-05-05.CS1 maint: archived copy as title (link)
  25. "LTPS explained". Archived from the original on 2014-03-28. Retrieved 2014-03-28.
  26. "IPS-NEO explained". Archived from the original on 2014-03-28. Retrieved 2014-03-28.
  27. "Pixel Eyes explained". Archived from the original on 2014-03-28. Retrieved 2014-03-28.
  28. "Combination of SRAM + TFT explained". Archived from the original on 2014-03-28. Retrieved 2014-03-28.
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