Japan Display Inc. (JDI) announced on April 10, 2023 that it had signed a memorandum of understanding (MOU) with HKC Corporation Limited (HKC) to create a strategic alliance to cooperate with respect to JDI's next-generation eLEAP technology and fabs, a Global Innovation and Industrialization Center, and the high-end automotive display business. Following this, on June 30, 2023 JDI announced that JDI and HKC had agreed to extend the MOU discussions to September-end 2023. However, on September 29, 2023 JDI and HKC have agreed to end the broader MOU discussions and focus on collaboration in the high-end automotive display business.

Rationale: Per the above, JDI and HKC have been in discussions to cooperate as global strategic partners with respect to JDI's next-generation eLEAP technology and fabs, a Global Innovation and Industrialization Center, and the high-end automotive display business. However, given recent developments with respect to JDI's growth opportunities, with the understanding and consent of HKC, JDI has decided to end the broader MOU discussions and focus on collaboration in the high-end automotive display business.