ANNOUNCEMENT 02 Sep 2019
On September, 2nd, 2019, the Innovation Network Corporation of Japan (INCJ) announced that it would be making its 3rd investment in Japan Display Co.
NUMBER OF INTERVENTIONS
INCJ (2019) 株式会社ジャパンディスプレイ（JDI）への追加支援について Additional support for Japan Display (JDI)
On September, 2nd, 2019, the Innovation Network Corporation of Japan (INCJ) announced that it would invest 20 billion yen (188 million USD) into a tripartisan-formed company (Sony, Toshiba, and Hitachi) called Japan Display Co., which will be operated by INCJ. The newly-formed INCJ-operated company will focus on the production and sales of high definition displays (TVs, phones, tablets etc). The company will also focus on the acquisition of competitors.
About the Innovation Network Corporation of Japan (INCJ)
In 2009, INCJ was created as a public-private investment fund to financially support industries "next-generation businesses". INCJ supports projects that "combine technologies and varied expertise across industries and materialize open innovation.". According to the INCJ website, the fund has an investment capacity of up to USD 20 billion. Although characterized as a public-private partnership, in fact only 0.1 billion of the 2.6 billion USD invested in the fund was provided by the private sector. The rest came from the Japanese government. Of the 0.1 billion USD said to be contributed by the private sector, 13.6 million USD was in fact provided by the Development Bank of Japan, a state-owned bank.