TOKYO, Japan, March 30, 2017 - Japan Display Inc. ("JDI") today announced changes in the scheduled dates for completion of a contract for the acquisition of shares of JOLED Inc. ("JOLED") and completion of the acquisition of shares of JOLED. The originally scheduled dates were stated in the announcement made on December 21, 2016 (see "Notice Concerning Basic Agreement Regarding Acquisition of Shares (Subsidiarization) of JOLED Inc.")
Details are presented below.
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Basic details of change (change in date)
Originally scheduled date
Changed date
Execution of a definitive agreement regarding the acquisition of shares of JOLED (subsidiarization)
(scheduled)
By March 31, 2017
Late June 2017
Completion of the acquisition of shares of
JOLED (subsidiarization) (scheduled)
First half of fiscal 2017
Late December 2017
Reason for change in date
In regards to JDI's efforts to commercialize organic light-emitting diode (OLED) displays the company has been constructing a new business model. The acquisition date has been changed in order to further discuss and consider a framework for commercialization.
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Japan Display Inc. published this content on 30 March 2017 and is solely responsible for the information contained herein.
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