Japanese display company JDI expects to lose money for 10 years in a row and will lose 47.8 billion yen in fiscal year 2023

CTOnews.com May 15 news, JDI recently announced that it expects a combined net loss of 47.8 billion yen in fiscal year 2023 (CTOnews.com Note: currently about 2.457 billion yuan), while the net loss in the last fiscal year was 25.8 billion yen (currently about 1.326 billion yuan), an increase of about 46 percent compared with the same period last year. It also means that JDI has lost money for 10 consecutive fiscal years since its inception.

▲ JDI 2022 results report, photo: JDI official website JDI estimates that operating income for fiscal 2023 will fall to 240 billion yen (currently about 12.336 billion yuan), down about 11% from a year earlier; operating loss will be 40.4 billion yen (currently about 2.077 billion yuan), compared with 44.3 billion yen (currently about 2.277 billion yuan) in the previous fiscal year. The losses were mainly due to increased costs arising from business restructuring and write-downs from the withdrawal of loss-making smartphones and car businesses, as well as rising costs such as spare parts and energy costs.

JDI said market conditions would not fully recover until after fiscal year 2023, with plans to reverse losses by providing technology to Chinese and Indian companies. CTOnews.com has previously reported that JDI has provided panel maker Huike Electronics with eLEAP technology for OLED panels to collaborate on the development of large-size OLED displays.