TOKYO (Reuters) - Apple supplier Japan Display Inc is likely to get a three-month extension for commitment lines worth 107 billion yen ($985 million) from its three main creditors, two sources with direct knowledge said on Friday.
The three banks — Mizuho Bank Ltd, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Trust Bank Ltd — will likely agree to extend their commitments until March 31, the sources said. They declined to be identified as the talks are still ongoing.
The liquid crystal display (LCD) maker for smartphones has been bleeding for the past five years and last month reported its 11th consecutive quarterly net loss on sluggish display sales and restructuring costs.
A spokesman for Japan Display declined to comment.
Reporting by Takashi Umekawa; Editing by Chang-Ran Kim and Uttaresh.V