In August 2017, Japan Display announced a strategic focus on OLED displays as the losing display maker failed to keep up with the industry shift to OLEDs. JDI announced it will need to raise $1.7 billion as it aims to start OLED mass production in 2019, and the company started to look for partners for this project.
JDI is now set to raise around $520 million, offering new shares and selling some of its assets. JDI will offer new shares to 30 foreign funds, to Japan's LED make Nichia Corp and also JDI's largest stakeholder, the government-backed INCJ. This money will be be used to advance the company's LCD production, and the company hopes these funds will enable it to find the OLED partners and raise the $1.7 billion required for OLED production.
JDI aimed to find the partner and raise the required funds by March 2018. This did not happen, as the company found it a challenge to find partners. JDI is in talks with BOE, CSoT, Visionox and Hon Hai Precision (Foxconn), but according to reports all these companies are more cautious now, due to changes in subsidies in China, as the government is shifting its focus from displays to the chip industry.
