https://wccftech.com/apple-supplier-on-the-brink-of-securing-a-financial-lifeline/

Japan Display Inc. (JDI) (TYO:6740), a key supplier of LCD displays to Apple (NASDAQ:AAPL), is planning to conclude a new bailout deal for at least 50 billion yen ($468 million) by the end of October after the last one fell through. JDI’s newly appointed CEO, Minoru Kikuoka, said in a statement, “We are close to [raising] 50 billion [yen] and I believe we can cement the deal this month.” The realization of this deal will go a long way in shoring up the troubled display-maker’s finances as the original bailout failed to materialize last month following the withdrawal of a Chinese investment company from the consortium of investors backing the initial financial rescue package.

In September, China’s Harvest Tech Investment Management referred to reservations pertaining to the display-maker’s corporate governance structure for backing out of a 63 billion-yen ($585 million) cash infusion into Japan Display. This investment was supposed to form the lynchpin of an emergency bailout worth at least 80 billion yen. Nonetheless, JDI’s frantic efforts for securing a timely financial fortification seem to have paid off with the imminent conclusion of a new bailout package. According to the details revealed by Japan Display, Hong Kong’s Oasis Management is expected to contribute $150 to $180 million while Apple is likely to provide $200 million for the new rescue plan.