Japan Display has clinched an agreement to raise USD 200 million from its “overseas customer”.
Japan Display stated that the company has clinched an agreement to raise USD 200 million from its “overseas customer”.
This, as Japan Display said in a statement that the USD 200 fund, as reported by Reuters, will arrive in the form of its “customer purchasing equipment” at its main smartphone screen factory in Tokyo, Japan.
Japan Display was one of the suppliers of Apple, as such, the company, according to Reuters’ sources, had an obligation to pay Apple for over USD 800 million as of 2019 for the USD 1.5 billion value of building the plant.
In addition, sources told Reuters that the said fund to be raised will be used for the repayment.
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