FILE PHOTO: a Japan Display Inc. logo is displayed at the company headquarters in Tokyo, Japan, on August 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) – a Chinese investment firm, the Harvest Group does not provide financial support out of Apple Inc. supplier Japan Display Inc, the Nikkei said on Thursday, potentially disrupting the plans for restructuring the cash-strapped LCD maker.
The display maker, is tapping into a consortium-led by the Harvest of an 80-billion-euro ($740 million) bailout deal, which is the investment of Apple, and a Hong Kong-based activist investor Oasis Management.
Japan Display declined to comment on the report.
The harvest was expected to contribute 60 billion yen, the Nikkei reported, citing sources familiar with the negotiations.
The Japanese company has repeatedly struggled to come up with a plan for the restructuring, and the results of the decision is likely to worsen the situation for the troubled company.
Reporting by Takashi Umekawa; Editing by Clarence Fernandez and Sherry Jacob-Phillips