UPDATE 1-Apple supplier Japan Display posts 9th straight quarterly net loss [Reuters]
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Source: Reuters
Apple supplier Japan Display posts 9th straight quarterly net loss - Reuters 2 Min Read TOKYO (Reuters) - Cash-strapped screen maker Japan Display Inc on Wednesday posted a ninth consecutive quarterly net loss, hit by weaker-than-expected demand from Apple Inc, its biggest client. The company, which is pursuing a bailout deal with a Chinese-Taiwanese group, said its fourth-quarter loss was 98.6 billion yen ($899.22 million), compared with the 147 billion yen loss a year earlier. For the full year, the net loss totaled 109.4 billion yen, far worse than an average estimate of a 13.47 billion yen loss from six analysts surveyed by Refinitiv. It was the fifth straight year of loss. The company also said it took a 75.2 billion yen writedown on one of its panel plants and would slash about 1,000 jobs, or about a tenth of the group’s workforce. The results will be closely watched by Japan Display’s Chinese-Taiwanese suitors, who delayed an up to 80 billion yen investment this week in order t
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