Japan Display shares soar on report it will mass-produce OLED panels

Reuters News
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Posted: Oct 03, 2017 9:36 PM

TOKYO (Reuters) - Shares of Japan Display Inc jumped as much as 24 percent on Wednesday after the Nikkei business daily reported the company had developed a way to mass-produce lower-cost organic light-emitting diode (OLED) screens and would start as early as in 2019.

The Nikkei said Japan Display had started approaching dozens of potential investors including Sony Corp and Canon Inc to raise 100 billion yen ($888 million) for mass production.

Japan Display said in a statement the reported details were not something it announced but that its group firm JOLED was considering ways to utilize its domestic factory for mass production of OLED panels.

(Reporting by Chang-Ran Kim; Editing by Edwina Gibbs)