Japan Display to cut domestic workforce by more than 1,000
Japan Display Inc. plans to lay off more than 1,000 employees in Japan as the once-ballyhooed manufacturer continues to suffer financial losses, sources said May 14.
The job cuts could potentially halve the company's current domestic workforce of about 2,700.
Workers at Japan Display's manufacturing bases will be affected by the consolidation, including those at its factory in Mobara, Chiba Prefecture, which is scheduled to close at the end of March 2026, the sources said.
The company had about 17,000 total employees in Japan and overseas in 2015.
However, Japan Display has long struggled, and it reduced its payroll by 1,200 employees in 2019.
Among its six manufacturing bases across Japan, only the factory in Kawakita, Ishikawa Prefecture, will remain after the Mobara plant closes.
PLUNGING STOCK PRICE
Japan Display was established through the integration of the small and mid-sized LCD panel businesses of Hitachi Ltd., Toshiba Corp. and Sony Corp. in 2012.
INCJ Ltd., a public-private investment fund under the industry ministry, temporarily held about 70 percent of Japan Display's shares, so the company was nicknamed 'Hinomaru LCD.'
However, the company's LCD business faced stiff competition from Chinese and Taiwanese manufacturers.
The shift from LCDs to organic electroluminescent displays for smartphones also exacerbated the financial difficulties of Japan Display, as did the depletion of its assets and revelations of accounting fraud.
The company's stock price was 769 yen ($5.40) when its shares were listed on the First Section of the Tokyo Stock Exchange in 2014.
But the closing price on May 14 this year was only 17 yen.
Japan Display posted 10 consecutive annual net losses up to the fiscal year that ended in March 2024.
The company is exploring ways to diversify its operations, including entering the touch-panel sensor and semiconductor packaging businesses.
It is scheduled to soon announce its financial results for the fiscal year that ended in March. Scott Callon, chairman and CEO of the company, will hold a news conference on the same day.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
an hour ago
- Nikkei Asia
US, China hold second round of trade talks in London
WASHINGTON/BEIJING -- Cabinet-level officials from the U.S. and China met in London on Monday for a second round of trade talks, reportedly discussing Beijing's curbs on rare earths and Washington's semiconductor export restrictions. U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer participated in the meeting, along with Commerce Secretary Howard Lutnick, who was not at the first round of talks last month in Switzerland. The Chinese side was led by Vice Premier He Lifeng, who is in charge of economic policy.
2 hours ago
2 Chinese Aircraft Carriers Operate Simultaneously in Pacific
News from Japan Society Jun 10, 2025 01:19 (JST) Tokyo, June 9 (Jiji Press)--The Chinese navy's two active aircraft carriers, the Shandong and Liaoning, have operated simultaneously in the Pacific Ocean for the first time, the Japanese Defense Ministry said Monday. The Shandong on Monday conducted aircraft takeoff and landing operations in Japan's exclusive economic zone near the so-called second island chain in the Pacific, which connects Japan's Ogasawara Islands and the U.S. territory of Guam, the ministry said. The Liaoning operated off Minamitorishima, an island in the Ogasawara chain, on Saturday and Sunday, becoming the first Chinese aircraft carrier to cross the second island chain, the ministry said. The activities of the aircraft carriers are an apparent warning to the United States as China is believed to position the second island chain as one of its defense lines to block the approach of the U.S. military in the event of a conflict. Asked at a press conference on Monday about the activity of the Liaoning, Japanese Chief Cabinet Secretary Yoshimasa Hayashi said that Tokyo has said what it needs to say to Beijing. [Copyright The Jiji Press, Ltd.] Jiji Press
Tokyo Weekender
5 hours ago
- Tokyo Weekender
Construction Near Foot of Mount Yotei Halted Amid Forest Law Violations
A development project near Mount Yotei in Hokkaido has been ordered to stop after authorities found possible violations of Japan's Forest Law, sparking renewed scrutiny of building practices in the rapidly growing Niseko tourism area. List of Contents: Work Stopped in Kutchan's Tatsumi District Broader Impacts on Tourism and Development Related Posts An aerial image of the construction site in Kutchan Town (photographed on May 23), image courtesy of Hokkaido Broadcasting Company. Work Stopped in Kutchan's Tatsumi District On June 6, the Shirebi City General Promotion Bureau issued a stop-work order for a construction site in Kutchan's Tatsumi district. The project, which involved building two detached homes, reportedly included extensive tree clearing that may have exceeded legal limits under forestry regulations. The developer, believed to be of Chinese descent, was working with a Sapporo-based firm known for building vacation homes. The site lies close to popular ski resorts, making it a prime location for tourism-driven real estate. The project came under fire following an inspection on June 4 that suggested the land clearing may have surpassed the 1-hectare threshold that requires a special permit. According to Japan's Forest Law, permits are necessary for any development over 1 hectare in forested zones. With the official inspection raising red flags, the Hokkaido Shimbun reports that the Bureau of Forestry now plans to demand a restoration plan to address environmental damage. Broader Impacts on Tourism and Development The incident comes as questions mount over how to manage growth in the Niseko region, where international investment and large-scale real estate projects have surged in recent years. It follows the recent bankruptcy of the La Plume Niseko resort, further fueling concerns about oversight, sustainability and the long-term impact of rapid development. The Mount Yotei case adds to a growing conversation about how to balance economic opportunity with environmental responsibility. As Niseko's global profile rises, the pressure to maintain strict regulatory standards is only increasing. Related Posts British Couple in Shorts and T-Shirt Rescued From 'Ghost of Yotei' Mountain Alternative Fujis: Japan's Lesser-Known Mountains That Rival Mount Fuji University Student Rescued From Mount Fuji Twice in Four Days
