japan: The shortage stemmed from the collapse of a Chinese-Taiwanese consortium following the withdrawal of Taiwanese panel maker TPK Holding Co. and Taiwanese private equity fund CGL group after months of negotiations, according to The Japan Times. Japan Display plans to hold an extraordinary shareholders' meeting on Aug. 29 to gain approval to finalize the proposed capital injection. China's Harvest Tech Investment Management Co. notified Japan Display of the decision to raise its investment from 300 million to 400 million as part of a share and bond offering, the Japanese display maker said. ; Japan Display said in late June that the company was still seeking some 11.7 billion for the package. Apple Inc., one of the main clients of Japan Display, will provide 100 million through Harvest while Hong Kong's Oasis Management Co. has promised to invest at least 150 million in the bailout plan. Japan Display was established in 2012 following the merger of the display operations of Sony Corp., Hitachi Ltd. and Toshiba Corp. with support from state-back fund INCJ Ltd. Japan Display also said it will spin off its unit making smartphone displays by December.
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