Company News

Japan Display shares suspended after fresh report of Ichigo stake

FILE PHOTO: Japan Display's logo is seen at a display of its products at its headquarters in Tokyo, Japan October 7, 2019. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) - The Tokyo Stock Exchange on Thursday suspended trading in shares of Japan Display Inc 6740.T after the Nikkei business daily reported that Ichigo Asset Management would inject about 100 billion yen ($900 million) into the company.

The Nikkei report is largely in line with a Kyodo News report last week that the bailout from Ichigo would exceed 90 billion yen. Last month, Japan Display said it planned to receive up to 90 billion yen in financial support from Ichigo.

Responding to the Nikkei report, Japan Display repeated in a statement that it aimed to finalize the funding deal by the end of the month.

Reporting by Chang-Ran Kim; Editing by Sandra Maler