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