Japan Displays is to receive up to $829 million in investment funds from Ichigo Asset Management.
For those who came in late, the struggling smartphone display manufacturer has been a bit under the weather lately and had been seeking cash from its main customer — Apple.
The basic details of the deal see Ichigo join Apple and Taiwanese contract electronics manufacturer Wistron in bailing out the company.
The deal could mean that the asset management company will own more than half the company although that is still being hammered out.
Japan Display said the deal will be finalised in January and completed by March, with Ichigo CEO tipped to join the business as co-chairman.
Apple currently sources LCD display panels from the manufacturer, with plans also in place for the manufacturer to supply OLED screens for the Apple Watch.
The bailout now looks set to stabilise the supply of these displays, with Apple also tipped to be investing $200 million via the purchasing of equipment at a smartphone screen plant.
