December 12, 2016 / 5:54 PM / a year ago

Japan Display to raise stake in OLED display maker Joled - Nikkei

Dec 12 (Reuters) - Japan Display Inc will raise its stake in Joled, an organic light-emitting diode (OLED) display maker that was created through the merger of Panasonic Corp’s and Sony Corp’s OLED operations, the Nikkei reported.

Japan Display will raise its stake in Joled from 15 percent to more than 50 percent by the end of 2017 through stock purchases from state-backed Innovation Network Corp of Japan, which currently owns 75 percent of the joint venture, the business daily reported.

Japan Display and Joled did not immediately respond to requests for comment.

The value of the deal is expected to top $100 million, Nikkei reported.

Japan Display will also receive 75 billion yen ($651.72 million) from INCJ, the newspaper said. ($1 = 115.0800 yen) (Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)

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