JDI terminates cooperation MOU with Huike HKC, focusing on cooperation in high-end automotive display business

According to news from this site on September 30, Japan Display Inc (JDI) issued a document on its official website announcing the cancellation of the Memorandum of Understanding (MOU) signed with HKC (Huike) on April 10, and will focus on cooperation in the high-end automotive display business. .

#According to our understanding, JDI and Huike signed a memorandum of understanding on April 10, 2023 to establish a strategic alliance to discuss JDI’s next-generation eLEAP technology. cooperate. On June 30, JDI and HKC have agreed to extend the Memorandum of Understanding until the end of September

MOU Reason for termination:

JDI and HKC have been discussing becoming a global strategic partner. Collaboration on JDI's next-generation eLEAP technology, production lines, global innovation and industrialization centers and high-end automotive display business

However, in light of recent developments in JDI's growth opportunities, with the understanding and consent of HKC, JDI It was decided to end negotiations on a broader cooperation memorandum and focus on cooperation in the high-end automotive display business.

Earnings Impact:

JDI’s earnings for the 2024/3 financial year will be almost unaffected by this change

JDI and HKC are continuing to explore cooperation If there are any matters that require further disclosure, JDI will promptly announce

This site notes that JDI still plans to build a factory in China, with customers bearing part of the construction costs. JDI said it has decided to set up two factories in Anhui Province, China, which will produce a new thin-film electroluminescent EL display called eLEAP.

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