Apple supplier Japan Display loses out on Chinese funds: Nikkei

Chinese investment firm Harvest Group will not provide any financial aid to Appl...

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 - Chinese investment firm Harvest Group will not provide any financial aid to Apple Inc supplier Japan Display Inc, the Nikkei said on Thursday, possibly disrupting restructuring plans for the cash-strapped LCD maker. The display maker is tapping a consortium led by Harvest for an 80 billion yen bailout deal, which includes investments from Apple and Hong Kong-based activist investor Oasis Management.Harvest was expected to contribute 60 billion yen, the Nikkei reported, citing sources familiar with the negotiation.

The Japanese company has repeatedly struggled to come up with a restructuring plan, and Harvest’s decision is likely to worsen the situation for the troubled firm.Our Standards:

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