On December 31, Japan Display announced the completion of the sale of its mainland subsidiary. Suzhou JDI Electronics was sold to Dongshan Precision for 26.73 billion yen.
JDI said that the transaction will generate 14.8 billion yen in extraordinary gains (Extraordinary Gain; profit from non-operating items) this quarter, as well as 3.5 billion yen in restructuring expenses. It is worth mentioning that the two amounts are current estimates and may change in the future.
JDI pointed out that after the completion of the transaction, Suzhou JDI Electronics is no longer a subsidiary, but the company has signed a cooperation agreement with Dongshan Precision. In the future, display module production will continue to be entrusted to Suzhou JDI Electronics.
IT House learned that JDI expected the sale price to be only 20.5 billion yen when it announced the news in October, but increased the price code to 26.73 billion yen after completing the accounting and records of Suzhou JDI Electronics. JDI expects to receive this payment in January 2023.
ANNA