Japan Display Inc. (JDI) and HKC Corporation Limited (HKC) deciding to postpone finalizing their global strategic partnership agreement until September 2023. The two companies initially signed a memorandum of understanding (MOU) on April 7, 2023, to create a strategic alliance. The alliance’s goal was to collaborate on next-generation OLED technology, establish a global Innovation and industrialization center, and develop a high-end automotive display business.
The reason for the postponement is the scale of the strategic partnership. The complexity of these projects requires extensive documentation and details, which led to the decision to extend the period for finalizing the agreement to September 2023. The delay in finalizing the agreement is not expected to significantly impact JDI’s earnings for the fiscal year ending in March 2024.