China’s TCL Technology Group Corp will invest 30 billion yen ($281 million) in JOLED Inc., the Japanese display-maker specializing in organic light-emitting diodes (OLED), forming a partnership to jointly develop large television panels.
JOLED will receive the investment from TCL CSOT, the display manufacturing subsidiary of TCL, the Shenzhen-listed company said in a notice (link in Chinese) late last week to the city’s bourse.
JOLED said in a statement Friday that JOLED will raise 20 billion yen from the Chinese company through new share issuance. The additional 10 billion yen investment was raised through a bond issuance, according to Japanese media Nikkei Asian Review. After the investments, TCL CSOT will hold a 10% stake in JOLED, according to the report.
TCL CSOT will start joint development with JOLED in inkjet printed OLED manufacturing in the next three years, aiming to develop large-sized display products and strengthen the two company’s production capacity in such products, TCL Technology said in the statement.
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