MARKET EXPANSION: The investment could facilitate TPK’s entry into the automotive display market, boosting its role in the display supply chain and enlarging its client base
Date: Apr 13, 2019
By: Lisa Wang / Staff reporter
TPK Holding Co (宸鴻), a touch sensor supplier for Apple Inc’s iPads, yesterday said it has joined a consortium that is to invest ￥60 billion (US$535.9 million) for a 50 percent stake in ailing Japan Display Inc (JDI), as it seeks to secure its display supply and broaden its customer base.
The announcement ended three months of speculation about TPK’s involvement in talks to help the financially troubled Japanese display supplier.
Two months ago, TPK dismissed such speculation, saying that it could not afford to bankroll a company that was much bigger than itself.
Changing its tune, TPK yesterday said it has signed a letter of intent to invest US$230 million in a consortium, Suwa Investment Holdings LLC, that would acquire a 49.82 percent stake in Japan Display. [FULL STORY]