It is reported that Japan Display Corporation (JDI) affiliate JOLED has announced that it has raised a total of 47 billion yen (about 420 million US dollars) through the distribution of new shares by third parties, and plans to use its printing method to mass produce OLED displays.
The new shares were underwritten by Denso, Toyota Tsusho, Sumitomo Chemical and Screen Finetech Solutions.
JOLED said it plans to start mass production of OLED displays at its Nomi plant in Ishikawa Prefecture, Japan, in cooperation with Japan Display Corporation in 2020.
The Japanese-based company said it will use the funds raised through capital increase to develop the world's first mass production line for printed OLED displays, aimed at rapidly achieving mass production in the fast-changing display industry. In addition, JOLED plans to raise funds at an appropriate time in the future as needed.
This time, through the third party distribution of new shares to increase four new shareholders, JOLED said it will further strengthen cooperation with shareholders in joint research and development, business cooperation and sales channel development, and under the new governance structure, accelerate the printing of OLED display business Process.