Japan Display Inc. - Transfer of idled plant to INCJ and tie-up with JOLED Inc.
Leading Japanese law firm Nishimura & Asahi has advised Japan Display Inc. (“JDI”) on the transfer of its idled Nomi Plant in northwest Japan to Innovation Network Corporation of Japan ("INCJ") in exchange for USD 181 million, on the redemption of its 1st Series Unsecured Convertible Bonds with Stock Acquisition Rights (subordinated) issued to INCJ for the face value of USD 181 million, and on the procurement of USD 181 million in loans from INCJ.
In addition, Nishimura & Asahi has advised JDI on its capital and business tie-up with its equity-method affiliate JOLED Inc., a developer, maker and seller of organic light-emitting diode (OLED) displays using printing technology.
JDI was formed in 2012 through the government-sponsored merger of parts of Sony Corporation, Hitachi Ltd., and Toshiba Corporation.
The Nishimura & Asahi team advising JDI was led by partner Yuki Oi.