Panel maker JOLED seals 30 bil. yen production deal with TCL China Star Optoelectronics

23, Jun. 2020

Photo by DeMorris Byrd on Unsplash
Photo by DeMorris Byrd on Unsplash

TOKYO, NNA – Japan-based JOLED Inc., created by the merger of the OLED display development divisions of Sony Corp. and Panasonic Corp., has reached a deal with TCL China Star Optoelectronics Technology Co. to develop large-size panels for TV use.

JOLED will raise 20 billion yen ($18.6 million) through a third-party allocation of new shares underwritten by CSOT Japan, and it will also borrow a 10 billion yen loan from the Chinese display manufacturer, a JOLED spokeswoman told NNA Monday.

The Japanese firm uses proprietary printing technology to produce high-grade displays.

Partners to the deal plan to test and prove the adaptability and effectiveness of the printing technology for large-sized displays, the spokeswoman said. They will collaborate for three years, though products might come online only after that period.

TCL China will hold a 10.76 percent stake in JOLED as part of the agreement. Its largest shareholder is INCJ Ltd., or Innovation Network Corp. of Japan, a public-private investment fund, which owns 56.8 percent. Auto parts maker Denso Corp., the second-largest stakeholder, owns 16.1 percent. The remaining 16.34 percent is held by six other companies including Sony and Panasonic.