TOKYO May 15 Japan Display Inc, the
world's biggest maker of liquid crystal displays for
smartphones, forecast a 45 percent rise in operating profit this
business year, missing analyst estimates in its first earnings
release since a $3.3 billion initial public offering in March.
The company, which supplies screens for Apple Inc's
iPhone, forecast profit of 40 billion yen ($392.91 million) for
the year to March 2015, versus the 57.4 billion yen mean
estimate of 12 analysts according to Thomson Reuters StarMine.
For the year ended on March 31, operating profit was 27.6
billion yen, meeting lowered guidance of 27.20 billion yen
announced on April 28, when the company said declining prices
had led to drawn out negotiations with clients and delayed
Shares of Japan Display ended 1.7 percent lower ahead of the
release at 589 yen, slipping to a record closing low for a
fourth consecutive session and underperforming a 0.8 percent
decline in the benchmark Nikkei average. Japan Display's
shares have tumbled 35 percent from their 900 yen IPO price
since debuting on the Tokyo Stock Exchange on March 19.
(Reporting by Sophie Knight; Editing by Edmund Klamann and