Japan Display IPOs
Japan Display, the company put together from the display businesses of Toshiba, Sony and Hitachi, is to IPO on March 19th.
70% of Japan Display is owned by the government-owned body Innovation Network Corp of Japan (INCJ).
INCJ is selling half it’s shareholding for $1.7 billion. It bought its 70% stake in 2012 for $2 billion.
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The IPO price of $9 a share puts a $4 billion value on Japan Display.
About 30% of Jana Display’s sales are to Apple.
The INCJ stepped in to form Japan Display when Sony, Toshiba and Hitachi were hit by a collapse in TV sales partly caused by the success of Samsung.Tags: Hitachi, Japan Display, Toshiba