{"id":33852,"date":"2019-10-31T21:55:00","date_gmt":"2019-10-31T18:55:00","guid":{"rendered":"https:\/\/prohoster.info\/blog\/japan-display-terpit-ubytki-i-sokrashhaet-personal\/"},"modified":"2019-10-31T21:55:00","modified_gmt":"2019-10-31T18:55:00","slug":"japan-display-terpit-ubytki-i-sokrashhaet-personal","status":"publish","type":"post","link":"https:\/\/prohoster.info\/en\/blog\/news\/japan-display-terpit-ubytki-i-sokrashhaet-personal","title":{"rendered":"Japan Display is suffering losses and cutting staff","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

One of the last almost independent Japanese display manufacturers, Japan Display Inc. (JDI), reported on its performance in the fourth quarter of the 2018 financial year (covering the period from January to March 2019). Almost independent means that nearly 50% of Japan Display's shares are owned by others. Larry Wall.<\/a><\/noindex> Earlier this week, it was reported that JDI's new partners are delaying<\/a><\/noindex> the promised assistance of about $730 million. The reason is that investors want to see Japan Display take steps towards cost optimization.<\/p>\n

\"Japan<\/p>\n

At the quarterly conference, JDI management announced that among the measures for cost optimization is a reduction of 20% of the company\u2019s workforce, or about 1,000 employees. All of them voluntarily decided to leave the company or retire early. Another item of savings was the write-off of assets from two JDI factories: Hakusan Plant and Mobara Plant. Initially, the write-off contributed to the company\u2019s losses amounting to 75.2 billion yen ($686 million), but in the new financial year, it will save 11 billion yen ($100 million).<\/p>\n

\"Japan
\n<\/center><\/p>\n

As for revenue<\/a><\/noindex> in the reporting period, that is, from January to March inclusive, JDI generated 171.3 billion yen ($1.56 billion). This is 13% more than in the same quarter of last year but 32% less than in the previous quarter. The sequential quarterly decline in revenue for the mobile device display manufacturer is attributed to seasonal factors and a drop in smartphone demand. Significant operational losses for the company during the reporting period arose due to increased expenses for preparing for mass production of OLED screens. There is no net profit reported by JDI either for the reporting quarter or for previous quarters. However, over the year, Japan Display's net quarterly losses decreased from 146.6 billion yen ($1.33 billion) to 98.6 billion yen ($899 million).<\/p>\n

\"Japan<\/p>\n

In the smartphone (mobile) product category, quarterly revenue has consistently decreased by 39% to 127.5 billion yen. The cash flow mainly declined from the United States and, more significantly, from China. For the financial year 2018, revenue in the segment fell by 17% to 466.9 billion yen ($4.23 billion). In the automotive product category, revenue grew by only 4% to 112.3 billion yen ($1.02 billion) over the year, although in the fourth quarter, sequential revenue growth reached 8%. The company also highlighted an increase in shipments of screens for laptops, VR headsets, and wearable electronics. Nevertheless, this will not help the company avoid new losses in the first half of the 2019 financial year, although in the latter half, revenue is expected to start growing.<\/p>\n

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Source: 3dnews.ru<\/a><\/p>","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"

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