ATREG, Inc. announced today that the acquisition of Japan Display, Inc. (JDI)’s large operational LCD panel manufacturing fab located in Higashiura, Japan by Sony Semiconductor Manufacturing Corporation (SCK) has officially closed.
In May 2022, JDI announced that the company would end production at the Higashiura fab by March 2023 to increase JDI’s cost competitiveness and profitability. JDI plans to lease and convert part of the plant into an engineering center.
“Our work with ATREG has allowed us to find the best solution for Higashiura,” explains Yasushi Shimogaichi, chief strategy officer for JDI. “This acquisition will preserve jobs and allow for ongoing engineering innovation at the site.”
“While concerned about the size of the site and the short timeline to find and secure a buyer, ATREG brought multiple interested parties to the table and through a competitive process allowed JDI to select the best buyer for this well-designed, infrastructure-rich facility,” adds Stephen Rothrock, president and CEO of ATREG. “Congratulations to both parties on a successful outcome.”