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Japan Display to save $455 million a year from structural reforms
August 9, 2017 / 6:21 AM / in 3 months

Japan Display to save $455 million a year from structural reforms

TOKYO (Reuters) - Japan Display Inc on Wednesday said it would reduce 50 billion yen ($455 million) in annual fixed costs through restructuring steps, including consolidating production sites and cutting jobs.

Japan Display Inc's Chief Executive Nobuhiro Higashiiriki attends a news conference in Tokyo, Japan August 9, 2017. REUTERS/Issei Kato

The liquid crystal display (LCD) maker said it would cut about 3,500 jobs overseas and 240 jobs in Japan.

It also received a new line of credit worth 107 billion yen from its main lenders, the company said.

Reporting by Chris Gallagher; Editing by Himani Sarkar

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