WITHDRAWN: Factors such as the global trade situation and industry dynamics have shown that the risks involved were higher than thought, an executive said

Taipei Times
Date: Jun 18, 2019
By: Lisa Wang  /  Staff reporter

TPK Holding Co (宸鴻), a touch sensor supplier for Apple Inc’s iPads, yesterday said it is withdrawing from a consortium that seeks to acquire a 50 percent stake in cash-strapped Japan Display Inc (JDI), citing volatile macroeconomic circumstances and risks in the display industry.

“Judging by the global trade situation, industry dynamics and the company’s current operations, we found the scale of risks [from investing in JDI] has exceeded what we thought,” TPK chief strategic officer Freddie Liu (劉詩亮) told the Taipei Times by telephone.

The company is seeking new investment opportunities, but there is no substantial results yet, Liu said.

The withdrawal came after JDI, an iPhone display supplier, last year reported its third straight year of losses and last month announced large-scale job cuts.    [FULL  STORY]