Latest news with #ScottCallon
Japan Times
16-05-2025
- Business
- Japan Times
Japan Display to cut 1,500 jobs in Japan on consecutive years of losses
Japan Display Inc., or JDI, said Thursday that it will cut about 1,500 jobs in Japan — or nearly 60% of its domestic workforce — as it has remained in the red for 11 consecutive years. The same day, the struggling maker of small and midsize liquid crystal display panels reported a consolidated net loss of ¥78.2 billion ($538.7 million) for fiscal 2024, which is larger than the previous year's loss of ¥44.3 billion. CEO Scott Callon will step down on June 1 to take responsibility for the company's poor performance. Upon approval at a general shareholders meeting on June 21, he will support his successor as nonexecutive chairman, without receiving compensation. Jun Akema, who heads JDI's procurement division, will succeed Callon as CEO. He will also assume the president's role. At a news conference, Callon apologized for the inconvenience caused to shareholders, client companies and JDI employees as a result of the deteriorated business performance. JDI will solicit voluntary redundancies from June 26 to Aug. 25, including those related to the planned end of LCD panel production at its Mobara plant in Chiba Prefecture by around next March. It also plans to cut jobs overseas. In the year ended March, the company's sales fell 21.4% from the previous year to ¥188 billion, and its operating loss widened to ¥37.0 billion from ¥34.1 billion. JDI did not issue an earnings forecast for fiscal 2025, citing uncertainty over its restructuring measures. JDI was founded in 2012 through the merger of the LCD panel operations of Hitachi, Toshiba and then-Sony Corp. After the Mobara plant is shut down, it will only have one domestic production base in Kawakita, Ishikawa Prefecture.
15-05-2025
- Business
Struggling JDI to Cut 1,500 Jobs in Japan
Tokyo, May 15 (Jiji Press)--Japan Display Inc., or JDI, said Thursday that it will cut about 1,500 jobs in Japan, or nearly 60 pct of its domestic workforce, as it has remained in the red for the 11th consecutive year. The same day, the struggling maker of small and midsize liquid crystal display panels reported a consolidated net loss of 78.2 billion yen for fiscal 2024, larger than the previous year's loss of 44.3 billion yen. CEO Scott Callon will step down on June 1 to take responsibility for the company's poor performance. Upon approval at a general shareholders meeting on June 21, he will support his successor as non-executive chairman, without receiving compensation. JDI will solicit voluntary redundancies from June 26 to Aug. 25, including those related to the planned end of LCD panel production at its Mobara plant in Chiba Prefecture, east of Tokyo, by around next March. It also plans to cut jobs overseas. In the year ended this March, the company's sales fell 21.4 pct from the previous year to 188 billion yen, and its operating loss widened to 37.0 billion yen from 34.1 billion yen. [Copyright The Jiji Press, Ltd.]
Asahi Shimbun
15-05-2025
- Business
- Asahi Shimbun
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.
Yahoo
25-02-2025
- Business
- Yahoo
JDI to Exhibit at MWC Barcelona 2025
TOKYO, February 25, 2025--(BUSINESS WIRE)--JDI will exhibit its Liquid Crystal (LC) Meta-Surface reflector technology at the JAPAN Pavilion during MWC Barcelona 2025, which will be held in Barcelona, Spain from March 3 to 6. MWC Barcelona 2025 is a leading international mobile connectivity industry event. By participating in this exhibition, JDI aims to expand the global reach of its LC Meta-Surface reflectors. The JAPAN Pavilion, hosted by the Ministry of Internal Affairs and Communications, will feature 16 Japanese companies. JDI's LC Meta-Surface reflector technology applies JDI's world-leading expertise in liquid crystals to optimize and significantly improve 5G radio wave transmissions. By reflecting and controlling high-capacity communication millimeter waves to optimize transmission capacity, JDI's LC Meta-Surface reflector technology can radically improve 5G transmission in areas with poor communication coverage, such as spaces enclosed or blocked by large buildings. For more information on JDI's LC Meta-Surface reflector technology, please see: Liquid Crystal Meta-Surface Reflector demonstration (YouTube) Exhibition OverviewMWC Barcelona 2025https:// Venue: Fira Gran Via, Barcelona, SpainJDI Booth Location: Hall 6 Stand E54, JAPAN Pavilion View source version on Contacts Japan Display Inc. (JDI) (Tokyo Stock Exchange Prime Market, 6740)Representative: Scott Callon, Chairman & CEOInquiries: Ken Hirabayashi, CFOTelephone: + Sign in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
OLEDWorks and JDI Announce Plans to Bring World-Leading Advanced Display Manufacturing to the United States
ROCHESTER, N.Y., Feb. 13, 2025 /PRNewswire/ -- OLEDWorks, the global leader in multi-stack organic light emitting diode (OLED) technology, announced today a strategic investment by Japan Display Inc. (JDI). OLEDWorks and JDI plan to establish a world-class advanced display fab in the United States by leveraging JDI's state-of-the-art display technology and manufacturing know-how and OLEDWorks' existing U.S. presence and advanced multi-stack OLED technology, manufacturing and product capabilities. The new U.S.-based fab will focus on delivering high-performance displays for critical industries including defense, automotive, and medical applications. "Our collaboration marks a transformative step enabling production of high-performance flat panel displays in the U.S.," said OLEDWorks CEO, David DeJoy. "Our plan will ensure that key industries have access to secure, reliable, high-performance displays manufactured in the United States." Key elements of OLEDWorks' and JDI's display manufacturing plan include: Combination of world class display and OLED know-how, technology, manufacturing, and product capabilities Novel, scalable display manufacturing that will meet the needs of key stakeholders in U.S. defense, automotive, and medical industries Partnerships with customers to ensure long-term business sustainability Partnerships with U.S. suppliers of critical components, equipment, and materials for displays and display electronics Building a leading-edge U.S. advanced display R&D center and display manufacturing hub, working jointly with customers, suppliers, and technology partners Deepening of existing relationships with university partners to expand human resources required to expand display production in the U.S. Production of high-performance displays that meet both the near-term requirements and long-term technology roadmaps of our customers "With this strategic partnership, OLEDWorks and JDI are creating a secure, sustainable, and innovative ecosystem for advanced display production in the United States. Advanced displays are foundational to 21st century industrial competitiveness and national security. The U.S. needs this capability, and we are going to deliver it," said Scott Callon, JDI CEO. The new display fab will be the first of its kind in the Western Hemisphere, cementing OLEDWorks' and JDI's position as global leaders in display manufacturing. About OLEDWorks OLEDWorks is the global leader in multi-stack OLED technology, offering innovative and energy-efficient OLED lighting and display solutions. Founded in 2010 in Rochester, NY, OLEDWorks is the only significant OLED manufacturer outside of Asia, driving advancements in OLED applications for automotive, defense, medical and more. For information about OLEDWorks, visit About JDI Japan Display Inc. (JDI) is the world leader in next-generation OLED technology, ultra high-resolution VR displays, advanced automotive displays, and advanced LTPS display backplane, design, & process technology. It was created in 2012 via the merger of Sony, Hitachi, and Toshiba's global display technology businesses. JDI's revolutionary, next generation OLED, eLEAP (environment positive Lithography with maskless deposition, Extreme long life, lower power, and high luminance, and Any shape Patterning), is the world's first OLED to use photolithography to generate low-cost, highly precise pixel patterning that is impossible with conventional OLED metal masks. For information about JDI, visit View original content to download multimedia: SOURCE OLEDWorks
