JDI Results 09/11/2016

Japan Display Inc. (JDI) announced Q2 FY16 net sales of ¥196.6 bn ($1.93 bn) with a Q2 FY16 net loss of ¥4.9 bn ($48.3 mn), leading to a net loss of 2.5%. Quarterly sales were 24.9% lower than last year’s Q2 sales, but higher than Q1 FY16 sales by 12.8%. Q2 FY16 had a net loss of ¥4.9 bn ($48.3 mn), as compared to last year’s Q2 net profit of ¥0.1 bn ($0.82 mn), but was better in comparison to a higher net loss of ¥11.8 bn ($109.3 mn)in the previous quarter.

In the first 6 months of FY16, the small/medium display market saw continued growth in smartphone display sales though the rate of growth was moderate due to the widespread global penetration of smartphone devices. Sales for all business segments including mobile devices, non-mobile device and automotive saw a recovery as compared to the previous quarter especially on account of increasing sales to US/Europe regions while sales to China declined.