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.

Read the full story on Caixin Global later.

Contact reporter Mo Yelin (yelinmo@caixin.com)

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