Apple supplier Japan Display finalises deal to raise US$200 million from "customer"

Apple supplier Japan Display finalises deal to raise US$200 million from "customer"

Japan Display said on Tuesday it has finalised a deal to raise US$200 million from "an overseas customer," which sources have said is Apple.

Japan Display Inc's logo is pictured at its headquarters in Tokyo
FILE PHOTO: Japan Display Inc's logo is pictured at its headquarters in Tokyo, Japan, August 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO: Japan Display said on Tuesday it has finalised a deal to raise US$200 million from "an overseas customer," which sources have said is Apple.

The US$200 fund will come in the form of the customer purchasing equipment at Japan Display's main smartphone screen factory in central Japan, the company said in a statement.

As Japan Display owed Apple more than US$800 million as of last year for the US$1.5 billion cost of building the plant, the fund to be raised would be used for repayment, the sources have said.

(Reporting by Makiko Yamazaki, editing by Louise Heavens)

Source: Reuters

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