May 15, 2018 / 6:13 AM / a year ago

Japan Display posts record annual net loss

TOKYO, May 15 (Reuters) - Smartphone screen maker Japan Display Inc, a supplier to Apple Inc, reported on Tuesday its biggest annual net loss, highlighting its struggle to regain competitiveness against Asian rivals.

Japan Display said it lost a net 247.2 billion yen ($2.25 billion) in the year through March compared with a 31.7 billion yen loss a year earlier. That was slightly worse than the market’s average forecast for a 222 billion yen loss, according to Thomson Reuters data.

It was its fourth straight year of losses, as growing competition from Chinese rivals aggravated the impact of slower demand from smartphone makers. ($1 = 109.8600 yen) (Reporting by Ritsuko Ando; Editing by Muralikumar Anantharaman)

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