Canlı Haberler • May 23
Japan Display Shares Drop 4.5% as Losses Widen and Revenue Slides Over 21% Japan Display shares fell 4.5% as the company reported deepening losses and negative cash flow.
Revenue declined over 21% year-over-year, with operating margins contracting significantly.
The company continues to face weak demand and operational challenges in the display and smartphone market. Meyka AI forecasts further downside risk for the stock over the next year.
Pressure on revenue, margins and cash generation signals that Japan Display is still working through a tough mix of industry demand issues and internal efficiency problems.
For investors, the key questions are how the company plans to stabilize cash flow and whether its product mix in displays and smartphones can support a turnaround in such a challenged market context. Reported Earnings • May 17
Full year 2026 earnings released: JP¥3.20 loss per share (vs JP¥12.64 loss in FY 2025) Full year 2026 results: JP¥3.20 loss per share (improved from JP¥12.64 loss in FY 2025). Revenue: JP¥132.3b (down 30% from FY 2025). Net loss: JP¥19.8b (loss narrowed 75% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Duyuru • May 14
Japan Display Inc., Annual General Meeting, Jun 24, 2026 Japan Display Inc., Annual General Meeting, Jun 24, 2026. Duyuru • Apr 04
Japan Display Inc. to Report Fiscal Year 2026 Results on May 14, 2026 Japan Display Inc. announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 14, 2026 Duyuru • Apr 01
Yahata Touei Estate K.K entered into definitive agreement to acquire Tottori Fab from Japan Display Inc. (TSE:6740). Yahata Touei Estate K.K entered into definitive agreement to acquire Tottori Fab from Japan Display Inc. (TSE:6740) on March 31, 2026.
The expected completion of the transaction is September 30, 2026. New Risk • Feb 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥30b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥30b free cash flow). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Negative equity (-JP¥6.0b). Earnings have declined by 29% per year over the past 5 years. Board Change • Feb 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Outside Director Shiho Ito was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Duyuru • Dec 23
Japan Display Inc. to Report Q3, 2026 Results on Feb 12, 2026 Japan Display Inc. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: JP¥1.44 (vs JP¥1.67 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥1.44 (up from JP¥1.67 loss in 2Q 2025). Revenue: JP¥34.0b (down 28% from 2Q 2025). Net income: JP¥8.89b (up JP¥19.2b from 2Q 2025). Profit margin: 26% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Duyuru • Sep 23
Japan Display Inc. to Report Q2, 2026 Results on Nov 13, 2025 Japan Display Inc. announced that they will report Q2, 2026 results on Nov 13, 2025 Board Change • Aug 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Outside Director Shiho Ito was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Duyuru • Jun 24
Japan Display Inc. to Report Q1, 2026 Results on Aug 08, 2025 Japan Display Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Duyuru • Mar 27
Japan Display Inc. to Report Fiscal Year 2025 Results on May 15, 2025 Japan Display Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Duyuru • Feb 25
Japan Display Inc. to Exhibit at MWC Barcelona 2025 Japan Display Inc. will exhibit its Liquid Crystal (LC) Meta-Surface reflector technology at the JAPAN Pavilion during MWC Barcelona 2025, which will be held in Barcelona, Spain from March 3 to 6. MWC Barcelona 2025 is a leading international mobile connectivity industry event. By participating in this exhibition, JDI aims to expand the global reach of its LC Meta-Surface reflector reflectors. The JAPAN Pavilion, hosted by the Ministry of Internal Affairs and Communications, will feature 16 Japanese companies. JDI's LC Meta-Surface reflectsor technology applies JDI's expertise in liquid crystals to optimize and significantly improve 5G radio wave transmissions. By reflecting and controlling high-capacity communication millimeter waves to optimize transmission capacity, JDI's LC Meta- Surface reflector technology can radically improve 5G transmission in areas with poor communication coverage, such as spaces enclosed or blocked by large buildings. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (9.1% average weekly change). Duyuru • Dec 21
Japan Display Inc. to Report Q3, 2025 Results on Feb 13, 2025 Japan Display Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 Duyuru • Dec 05
Japan Display Inc. Provides ELEAP Development Update Japan Display Inc. has been working towards a December 2024 mass production launch of eLEAP, its next-generation OLED technology. As announced in its December 3, 2024 releases "Innolux, CarUX, and JDI Launch eLEAP Strategic Alliance" and "JDI Develops World's First 32-inch Automotive-Grade eLEAP+HMO Display," JDI is currently moving forward simultaneously on multiple strategic eLEAP projects, which is straining eLEAP development resources. To optimize eLEAP development resource allocation and align it with strategic priorities, JDI has pushed back mass production of the initial eLEAP product launch to March 2025. The earnings impact from this push back is minimal. JDI will continue to work to respond to strong eLEAP customer demand and deliver its extraordinary performance to the world. Duyuru • Nov 20
Japan Display Inc. Introduces SOLTIMO - World’s First High-Speed Automated Microbial Growth Monitoring System JDI has developed SOLTIMO, the world's first microbial growth monitoring system capable of continuously observing and analyzing microbial growth using transmitted light. SOLTIMO is set for release in December 2024, and will dramatically accelerate medical professionals' ability to render accurate clinical judgements on behalf of their patients, improving patients' health outcomes while freeing medical and life science professionals from lengthy and onerous manual observation activity. SOLTIMO is a unique monitoring system that uses a large, highly precise TFT (thin film transistor) optical sensor to observe microbial growth and analyze data in real time. SOLTIMO senses the light transmitted through a sample cultured on a growth medium. SOLTIMO is expected to contribute to improved observation efficiency, faster clinical judgments, and standardization in medical and biological testing methods. With SOLTIMO's microbial growth observation, the conventional procedure of removing the growth medium from an incubator (i.e., a microbial culture device) for observation is no longer required. Furthermore, SOLTIMO's real-time observation allows for quicker judgment, and enables automated analysis of measurement results, thereby improving efficiency.By leveraging JDI's leading flat panel display technology, the SOLTIMO device itself has been made compact and thin, allowing for more than 10 SOLTIMO units to be installed simultaneously in a standard-sized incubator. As an antibiotic susceptibility analyzer, SOLTIMO can also automatically carry out the disk diffusion test, identify the bacterial species and contribute to addressing AMR (antimicrobial resistance) issues. SOLTIMO-M, a medical device equipped with this function, will be available through CarbGem Inc., JDI's partner in developing SOLTIMO. Reported Earnings • Nov 17
Second quarter 2025 earnings released: JP¥1.67 loss per share (vs JP¥2.66 loss in 2Q 2024) Second quarter 2025 results: JP¥1.67 loss per share (improved from JP¥2.66 loss in 2Q 2024). Revenue: JP¥47.0b (down 30% from 2Q 2024). Net loss: JP¥10.3b (loss narrowed 37% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 22% per year. Duyuru • Sep 26
Japan Display Inc. to Report Q2, 2025 Results on Nov 13, 2024 Japan Display Inc. announced that they will report Q2, 2025 results at 3:30 PM, Tokyo Standard Time on Nov 13, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: JP¥1.05 loss per share (vs JP¥1.98 loss in 1Q 2024) First quarter 2025 results: JP¥1.05 loss per share (improved from JP¥1.98 loss in 1Q 2024). Revenue: JP¥55.9b (up 5.5% from 1Q 2024). Net loss: JP¥6.50b (loss narrowed 47% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 29
Full year 2024 earnings released: JP¥7.16 loss per share (vs JP¥5.46 loss in FY 2023) Full year 2024 results: JP¥7.16 loss per share (further deteriorated from JP¥5.46 loss in FY 2023). Revenue: JP¥239.2b (down 12% from FY 2023). Net loss: JP¥44.3b (loss widened 72% from FY 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Jun 28
Japan Display Inc. to Report Q1, 2025 Results on Aug 09, 2024 Japan Display Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Duyuru • Jun 27
JDI Develops World's Highest Resolution (>2500 ppi) Ultra High-Resolution VR Display on Glass Substrate Japan Display Inc. has developed the world's highest resolution ultra high-resolution display on a low-cost glass substrate (2.15 inches, 2527 ppi) for use in virtual reality head-mounted displays (VR- HMDs). JDI's technology breakthrough makes possible affordable VR displays with the extraordinary imaging and highly realistic, immersive user experiences that were previously only available on high-cost silicon substrates. Recognizing the importance of this technology, JDI was awarded the DIC International Display Technology Innovation Award on June 18, 2024, ahead of the July 3, 2024 start of Display Innovation China EXPO 2024 (DIC EXPO 2024, Shanghai), China's leading display technology exposition. In order to enhance the immersive experience when using a VR-HMD, it is important to secure a wide field of view (FOV) and eye-box (the range of eye movement where the screen can be viewed without distortion) in addition to a clear and natural image. JDI's newly developed 2.15 inch, 2527 ppi ultra high-resolution display combines JDI's world- leading LTPO (Low-Temperature Polycrystalline Oxide) and COA (Color Filter on Array) technologies to achieve a resolution of 3840×3840 pixels per eye, thus allowing for a wide FOV within a compact 2 inch display. JDI's ultra high-resolution LCD also minimizes the "screen door effect" problem with conventional VR-HMDs (in which pixel patterns become unintentionally visible to the user), thus providing a cleaner and more realistic visual experience. The significant cost advantages of using glass substrate for JDI's ultra high-resolution display will cater to a broad range of needs within the high-resolution display market. JDI will continue to leverage its world-leading technology capabilities to build upon its lead in the global VR display market. Duyuru • Jun 13
Japan Display Inc. to Exhibit 5G LC Meta-Surface Reflector Japan Display Inc. will exhibit its latest technology breakthrough, its LC (liquid crystal) Meta-Surface reflector technology, at COMNEXT 2024 from June 26 to 28 at Tokyo Big Sight South Exhibition Hall. COMNEXT is an international exhibition that showcases the latest in communication technologies, with a particular focus on next-generation technologies such as 6G, private 5G, IoT, optical communications, and video transmission. JDI's LC Meta-Surface reflectsor technology applies JDI's expertise in liquid crystals to optimize and significantly improve 5G radio wave transmissions. By reflecting and controlling high-capacity communication millimeter waves to optimize transmission capacity, JDI's LC Meta- Surface reflector technology can radically improve 5G transmission in areas with poor communication coverage, such as spaces enclosed or blocked by large buildings. Reported Earnings • May 16
Full year 2024 earnings released: JP¥7.16 loss per share (vs JP¥5.46 loss in FY 2023) Full year 2024 results: JP¥7.16 loss per share (further deteriorated from JP¥5.46 loss in FY 2023). Revenue: JP¥239.2b (down 12% from FY 2023). Net loss: JP¥44.3b (loss widened 72% from FY 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • May 15
Japan Display Inc., Annual General Meeting, Jun 22, 2024 Japan Display Inc., Annual General Meeting, Jun 22, 2024. Duyuru • Apr 16
Japan Display Inc. Announces Mass Production Update & Development of Ultra-High Brightness 1600 nit eLEAP for Notebook PCs JDI is currently ramping up for December 2024 mass production of eLEAP, its revolutionary, next-generation OLED technology. eLEAP is the world's first OLED using photolithography for maskless deposition in order to overcome the low brightness and short lifetime weaknesses of conventional OLED technology. As part of its eLEAP roll-out, JDI is developing a broad number of end-use applications. This includes the14-inch eLEAP display that JDI announced in August 2023, which was developed for use in notebook PCs in response to strong customer demand. With ongoing technical development, JDI has succeeded in creating an ultra-high brightness 14-inch eLEAP display that achieves a peak brightness of 1600 nits, three times higher than conventional OLED. Having started test production in October 2023, JDI is currently ramping up for December 2024 eLEAP mass production at its G6 fab in Mobara, Japan. The production ramp is well ahead of plan: eight months ahead of launch, JDI has already achieved a production yield of over 60%, underscoring that JDI has successfully overcome the key technical hurdles for launch. JDI will supply eLEAP for use in a wide array of end-use applications, including smartwatches & wearables, smartphones, notebook PCs, and automotive displays. JDI's new ultra-high brightness 14-inch eLEAP display uses a single-stack structure to deliver brightness of 1600 nits, three times higher than conventional OLED. This extraordinary brightness allows for full display use even in sunny, outdoor environments. For conventional OLED to achieve similar brightness levels requires using a double-stack tandem structure, but this makes both the product and the manufacturing process more complex and results in higher costs. JDI's 14-inch eLEAP technology delivers customers what they want: higher performance at a lower cost. Furthermore, by employing a tandem structure, eLEAP can achieve brightness levels exceeding 3,000 nits, thus paving way for ultra-realistic, ultra-high brightness visual experiences. JDI has over 8,000 global OLED patents and has filed for over 500 eLEAP patents. In addition, with its ability to draw upon its expertise in production equipment and processes, JDI continues to build out its world-class intellectual property portfolio. eLEAP is a key growth driver for JDI's METAGROWTH 2026 growth strategy, which focuses on creating major breakthroughs in customer and social value via JDI's Global No. 1 technologies. eLEAP meets these important customer and social needs: it outperforms conventional OLED and is GreenTech that significantly reduces CO2 emissions during the manufacturing process. JDI is committed to leading a revolution in global display technology that serves customers and the world. Duyuru • Apr 02
Sony Semiconductor Manufacturing Corporation completed the acquisition of Higashiura Fab facilities from Japan Display Inc. Sony Semiconductor Manufacturing Corporation signed an agreement to acquire Higashiura Fab facilities from Japan Display Inc. on March 10, 2023. Within the Higashiura Fab facilities JDI will open a Higashiura Engineering Center in April 2023 that will continue JDI’s display technology design, prototyping, and analysis activity post-sale. The transaction is expected to complete on April 1, 2024.
Sony Semiconductor Manufacturing Corporation completed the acquisition of Higashiura Fab facilities from Japan Display Inc. on April 1, 2024. Duyuru • Mar 27
Japan Display Inc. to Report Fiscal Year 2024 Results on May 13, 2024 Japan Display Inc. announced that they will report fiscal year 2024 results at 3:00 PM, Tokyo Standard Time on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: JP¥1.50 loss per share (further deteriorated from JP¥1.22 loss in 3Q 2023). Revenue: JP¥60.5b (down 13% from 3Q 2023). Net loss: JP¥9.28b (loss widened 61% from 3Q 2023). Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) exceeded analyst estimates by 27%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Duyuru • Feb 06
Japan Display Inc. Develops Virgo JDI has developed Virgo, a wellness service based upon JDI's advanced biometric sensor and smart ring technology to support improved health outcomes for Virgo users. JDI's Virgo smart ring is the first in the world to be equipped with an organic photodetector (OPD) sensor. The Virgo OPD sensor is formed on a flexible substrate, giving it a thin profile that allows highly efficient sensing within a compact smart ring form factor that supports high fit and comfort for users. The Virgo smart ring can automatically acquire wellness data such as heart rates, blood oxygen levels, sleep time, step counts, and calorie consumption and is integrated with Virgo's app and cloud-based data management system. Virgo not only provides realtime monitoring of users' daily wellness status but also supports users' wellness and positive behavioral changes by providing advice and information tailored to individuals from qualified health professionals. JDI will begin offering Virgo trial usage this month to corporations and organizations interested in supporting higher wellness for their employees and members. Duyuru • Dec 24
Japan Display Inc. to Report Q3, 2024 Results on Feb 09, 2024 Japan Display Inc. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Dec 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-JP¥71b free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (JP¥15b net loss in 2 years). Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Duyuru • Nov 11
Japan Display Inc. Revises Consolidated Earnings Guidance for the Full Year Ending March 31, 2024 Japan Display Inc. revised consolidated earnings guidance for the full year ending March 31, 2024. For the period, the company expects sales to be JPY 247,000 million compared to the previous guidance of JPY 240,000 million, operating loss to be JPY 34,000 million compared to the previous guidance of JPY 40,400 million, recurring loss to be JPY 32,500 million compared to the previous guidance of JPY 43,200 million, net loss to be JPY 44,000 million compared to the previous guidance of JPY 47,800 million, and loss per share to be JPY 7.11 compared to the previous guidance of JPY 7.72. Price Target Changed • Nov 11
Price target decreased by 8.3% to JP¥33.00 Down from JP¥36.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥33.00. Stock is down 31% over the past year. The company is forecast to post a net loss per share of JP¥11.34 next year compared to a net loss per share of JP¥5.46 last year. Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: JP¥2.66 loss per share (further deteriorated from JP¥1.39 loss in 2Q 2023). Revenue: JP¥66.9b (down 18% from 2Q 2023). Net loss: JP¥16.5b (loss widened 151% from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 37%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 05
Price target decreased by 7.7% to JP¥36.00 Down from JP¥39.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥36.00. Stock is down 25% over the past year. The company is forecast to post a net loss per share of JP¥7.89 next year compared to a net loss per share of JP¥5.46 last year. Duyuru • Sep 24
Japan Display Inc. to Report Q2, 2024 Results on Nov 10, 2023 Japan Display Inc. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 11
First quarter 2024 earnings released: JP¥1.98 loss per share (vs JP¥1.08 loss in 1Q 2023) First quarter 2024 results: JP¥1.98 loss per share (further deteriorated from JP¥1.08 loss in 1Q 2023). Revenue: JP¥53.0b (down 7.2% from 1Q 2023). Net loss: JP¥12.2b (loss widened 141% from 1Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Aug 01
Japan Display Inc. Commences Mass Production of LumiFree Japan Display Inc. announced that it has started mass production and shipments to customers of LumiFree, the world's first LED Free-Lighting technology that can freely and flexibly control the light distribution characteristics of LED light sources. LumiFree has attracted a great deal of interest from companies in the lighting industry as a product that will revolutionize the world of lighting by enabling the control of light distribution characteristics, something that has been difficult to achieve with conventional lighting equipment and technology. JDI has recently begun shipping mass produced products to lighting equipment manufacturers in Japan for the first time. In addition to the samples JDI has been providing to Japanese customers, JDI has also begun providing samples to overseas customers. JDI has positioned LumiFree as one of the six proprietary growth drivers in METAGROWTH 2026 growth strategy and is driving its commercialization. JDI is working to drive significant growth by further strengthening its Global No.1 proprietary technologies, securing competitive advantage, and significantly improving profitability. Major Estimate Revision • Jul 05
Consensus estimates of losses per share improve by 51% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥240.0b to JP¥250.0b. EPS estimate increased from -JP¥16.11 per share to -JP¥7.92 per share. Electronic industry in Japan expected to see average net income growth of 2.5% next year. Consensus price target of JP¥38.00 unchanged from last update. Share price fell 2.5% to JP¥39.00 over the past week. Duyuru • Jun 20
Japan Display Inc. Announces Development of First Directivity of MmWave Meta-Surface Reflector Japan Display Inc. announced the development of the first transparent liquid crystal meta-surface reflector that can change the direction of mmWave reflection to any direction. The transparent liquid crystal meta-surface reflectsor can be placed on window glass or on advertising media, and generally in any environment or location where transparency offers added benefits, which greatly increases installation flexibility. As a result, the radio communication environment of mmWave is greatly improved, contributing to greater convenience for consumers. While the mmWave used in 5G can provide ultra-high-speed, high-capacity, and low-latency communication services, the strong directivity of the radio wave creates coverage holes in places such as the shadows of buildings and trees, where it is difficult for the mmWave to reach. Meta-surface reflectors that reflect radio waves from base stations in a specific direction, and deliver them to coverage holes, offer a great solution to this real-world problem. As announced in October 2021, JDI has been developing direction- variable liquid crystal meta-surface reflect or that can reflect mmWave in any direction. The newly developed transparent mmWave liquid crystal meta-surface reflector has the characteristic of reflecting mmWave in any direction, while still passing through visible light. The company have confirmed that the visible light can actually be seen through a prototype in which this technology is applied. The prototype was also confirmed to be able to reflect mmWave in any set direction. With this achievement, it is expected that transparent mmWave liquid crystal meta-surface reflector can be placed on window glass and advertising media, and that flexible measures for the coverage holes can be taken in various scenes, in accordance with changes in the position of the coverage holes due to changes in radio environment, and with changes in communication traffic at different times of the day. This technology can be applied not only to 5G but also to Beyond5G/6G. The transparent liquid crystal meta-surface reflector will be exhibited at COMNEXT - Next Generation Communication Technology & Solutions Exhibition - to be held at Tokyo Big Sight from June 28, 2023 to June 30, 2023. Duyuru • May 24
Japan Display Inc. to Exhibit At Smart Sensing 2023 JDI will exhibit new sensor applications created from existing display technologies at Smart Sensing 2023, to be held at Tokyo Big Sight from May 31 to June 2, 2023. Sensors including biometrics sensors, hover sensors, tactile sensors, and 3D sensors-created as new applications for existing display technologies in which JDI has deep expertise-will be exhibited. All of these new sensors have the capability to make a healthier and safer world. Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: JP¥1.22 loss per share (down from JP¥0.57 profit in 3Q 2022). Revenue: JP¥69.7b (down 2.7% from 3Q 2022). Net loss: JP¥5.75b (down 337% from profit in 3Q 2022). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 133% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Duyuru • Feb 11
Japan Display Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 Japan Display Inc. revised consolidated earnings guidance for the fiscal year ending March 31, 2023. For the year, the company now expects sales to be JPY 266,000 million, operating loss to be JPY 47,300 million, net loss to be JPY 31,900 million and LPS to be JPY 6.74 against sales of JPY 280,000 million, operating loss of JPY 34,900 million, net loss of JPY 35,800 million and LPS of JPY 7.59 as previously forecasted. Major Estimate Revision • Jan 10
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥280.0b to JP¥275.0b. 2023 losses expected to reduce from -JP¥19.06 to -JP¥5.28 per share. Electronic industry in Japan expected to see average net income growth of 8.6% next year. Consensus price target down from JP¥39.00 to JP¥38.00. Share price rose 5.3% to JP¥40.00 over the past week. Breakeven Date Change • Dec 31
No longer forecast to breakeven The analyst covering Japan Display no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of JP¥1.60b in 2025. New forecast suggests the company will make a loss of JP¥2.30b in 2025. Duyuru • Dec 28
Japan Display Inc. to Report Q3, 2023 Results on Feb 10, 2023 Japan Display Inc. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Shiho Ito was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: JP¥1.39 loss per share (further deteriorated from JP¥0.59 loss in 2Q 2022). Revenue: JP¥81.2b (up 13% from 2Q 2022). Net loss: JP¥6.56b (loss widened 273% from 2Q 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 66%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Duyuru • Nov 11
Japan Display Inc. Provides Earning Guidance for the FY23/3 Full-Year (April 1, 2022 to March 31, 2023) Japan Display Inc. provided earning guidance for the FY23/3 Full-Year (April 1, 2022 to March 31, 2023). For the period, the company expects sales of JPY 280,000 million, operating loss of JPY 34,900 million, recurring loss of JPY 32,000 million, net loss of JPY 35,800 million and loss per share of JPY 7.59. Major Estimate Revision • Nov 11
Consensus revenue estimates fall by 10% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥311.5b to JP¥280.0b. Forecast losses increased from -JP¥12.65 to -JP¥19.06 per share. Electronic industry in Japan expected to see average net income growth of 6.1% next year. Consensus price target down from JP¥44.00 to JP¥39.00. Share price was steady at JP¥51.00 over the past week. Duyuru • Nov 07
Japan Display Inc. Develops World's First 3D Imaging Technology Deploying Lcd Panels- Enables Unprecedented, Simultaneous Capture of Video & Depth Maps - Japan Display Inc. (JDI) has successfully developed the world's first 3D imaging technology that simultaneously captures both normal video and depth maps.1In rapidly expanding fields such as autonomous driving and the metaverse, there is a need to accurately gauge the shape and position of people, buildings, colors, and patterns, and import them as information and data. Stereo cameras2 and ToF sensors3 are the existing technologies that meet these demands, and with the improvement of resolution and advances in machine learning technology, it has become possible recently to capture advanced information. Doing so with these conventional technologies, however, requires multiple sensors and cameras to acquire distance, position, and color information. Current offerings have thusbecome larger and more complex, while product size and position restrictions have become stricter. By bringing together JDI's LCD technology with the Hitachi Ltd. R&D Group's technology combining optics and image processing, this new 3D imaging technology makes it possible to capture with a single camera both video data, including color information, and depth maps, including distance and position information. The 3D sensor market is expected to reach approximately JPY 1.4 trillion by 2026.4 With the goal of market entry in 2024, JDI is investing in performance improvements and the miniaturization of cameras to allow for wider use of this 3D imaging technology in a greater number of products and markets, while working to contribute to the realization of a safer and more secure world. Duyuru • Oct 31
JDI Develops LumiFree, World’s First LED Free Lighting Technology Japan Display Inc. (JDI) has leveraged its deep expertise in advanced frontplane and backplane display technologies to create LumiFree, the world's first LED Free Lighting technology that can freely and flexibly control the light distribution characteristics of LED light sources. LumiFree is GreenTech that enables the precise, controlled delivery of an exact amount and shape of light at an exact place and time. It was developed by an internal JDI start-up and underscores JDI's commitment to delivering on its METAGROWTH 2026 growth strategy and six proprietary growth drivers. LumiFree is one element of Growth Driver 6: New Tech, Products, & Businesses. Via LumiFree JDI is working to contribute to a sustainable society by improving the way they experience the illumination of people, places, and things and by reducing the energy consumption and light pollution caused by excessive lighting. JDI began LumiFree sample customer shipments in September 2022, with mass production scheduled for April 2023, and is targeting LumiFree sales of over JPY 10 billion by FY26/3. Using LumiFree, light can be freely controlled and shaped along both the vertical and horizontal axes. This means that not only does LumiFree allow light distribution characteristics to be freely and flexibly adjusted after production and installation, but that LumiFree can also generate distinctive and diverse elongated and elliptical shapes that are difficult to produce with conventional fixed lighting. In addition, because LumiFree leverages the technical advantages of liquid crystal displays, including low noise, fast response, compact and lightweight design and manufacturing, and long life, LumiFree can be deployed across a broad range of lighting environments and devices for residential, commercial, and professional use. Amidst increasingly urgent efforts to reduce energy consumption around the world, lighting technology needs to evolve to meet the growing demand for healthier and more environmental lighting tailored to diverse needs. Reflecting this structural demand growth, the global market for smart lighting is projected to grow from USD 26 billion in 2022 to USD 77 billion in 2026. JDI believes that LumiFree can fulfill important societal needs and become a key technological underpinning for the realization of a more sustainable society. Major Estimate Revision • Oct 21
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥316.5b to JP¥311.5b. Losses expected to increase from JP¥10.85 per share to JP¥12.65. Electronic industry in Japan expected to see average net income growth of 7.7% next year. Consensus price target of JP¥44.00 unchanged from last update. Share price rose 2.1% to JP¥49.00 over the past week. Duyuru • Sep 28
Japan Display Inc. to Report Q2, 2023 Results on Nov 10, 2022 Japan Display Inc. announced that they will report Q2, 2023 results on Nov 10, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: JP¥1.08 loss per share (up from JP¥2.68 loss in 1Q 2022). Revenue: JP¥57.1b (down 13% from 1Q 2022). Net loss: JP¥5.07b (loss narrowed 27% from 1Q 2022). Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) exceeded analyst estimates by 86%. Over the next year, revenue is forecast to grow 13%, compared to a 9.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Aug 10
Japan Display Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 Japan Display Inc. provided consolidated earnings guidance for the fiscal year ending March 31, 2023. For the year, the company expects sales of JPY 329,100 million, operating loss of JPY 19,400 million, net loss of JPY 21,400 million and loss per share of JPY 4.54. Major Estimate Revision • Aug 10
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥342.0b to JP¥316.5b. 2023 losses expected to reduce from -JP¥13.19 to -JP¥10.85 per share. Electronic industry in Japan expected to see average net income growth of 7.1% next year. Consensus price target of JP¥44.00 unchanged from last update. Share price fell 4.8% to JP¥60.00 over the past week. Board Change • Aug 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Shiho Ito was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 29
Japan Display Inc. to Report Q1, 2023 Results on Aug 09, 2022 Japan Display Inc. announced that they will report Q1, 2023 results on Aug 09, 2022 Duyuru • Jun 28
Japan Display Inc. Appoints Shiho Ito as Director Japan Display Inc. approved the appointment of Shiho Ito as director, at the AGM, held on June 25, 2022. Duyuru • Jun 22
Japan Display Inc. Further Develops Its Breakthrough Transparent Rælclear Display Technology In response to strong customer demand, Japan Display Inc. (JDI) has further developed its breakthrough transparent Rælclear display technology and expects to begin mass production of a new 20.8-inch Rælclear display with 2X brightness in the fall of 2023. With the world's highest display transparency, Rælclear is a revolutionary display technology with glass-like transparency and sharp and vivid images fully visible from both the display's front and back. Rælclear's name was born from its unique two-way transparency: starting from the letter "c", Rælclear reads as "clear" in both directions. Rælclear enables brand-new display applications with unprecedented two-way communication. JDI sold out all of its 12.3-inch Rælclear displays on the Makuake product launch platform in September 2021 and is now selling the 12.3-inch display to customers globally. The design and development of this new 20.8-inch display is in response to customer needs to present more and richer information via a single display. In addition to the larger 20.8-inch screen, JDI has deployed its proprietary backplane technology to 2X the refresh rate, reducing flicker and improving image quality. JDI has also upgraded the 20.8-inch display with higher performance LEDs to 2X brightness. The 12.3-inch Rælclear display was primarily intended for use in facilitating face-to-face communication by converting voice into text. The new 20.8-inch display makes it easier to interpret conversation partners' facial expressions and display additional information such as images or videos. It is thus expected to be used in medical applications such as over the counter communication and medical examinations, as well as for transportation and signage solutions. New 20.8-Inch Rælclear Product Specs: Display Size: 20.8-inch (460.8 mm (H) x 259.2 mm (V)); Pixel Count: 1280 (V) x 720 (H); Colors: 4,096 colors; Refresh Rate: 120 Hz; Transparency: 90%; Brightness: 300 cd/m2. Duyuru • Jun 17
Japan Display Inc. Develops World’s First Flexible LTPS TFT Tactile Sensor Japan Display Inc. (JDI) has developed the world's first flexible tactile sensor that enables high-precision measurement over a wide area using a matrix of LTPS TFTs (low- temperature polysilicon thin-film transistors). Highly accurate tactile measurement is required for the development of a number of new technologies and products, as well as for advanced sports and medical research. JDI's flexible tactile sensor is suitable for a wide range of applications, such as measuring the grip strength of a robot grasping an object or the pressure distribution on the sole of a person's foot during walking. Specifically, tactile sensors are required to measure contact surfaces that are difficult to observe externally. Unfortunately, with conventional tactile sensors it has been difficult to achieve both high precision and broad measurement area. Furthermore, conventional sensors are prone to crosstalk, which makes accurate sensing difficult at high-precision due to the influence of surrounding sensor pixels. To solve these problems, JDI has developed a high-resolution, crosstalk-free flexible tactile sensor by combining JDI's advanced active-matrix technology used in displays with a conductive pressure sensitive layer (sensor material whose resistance decreases when pressure is applied) to monitor the current flowing in each sensor pixel. In test applications where individuals walk on JDI's flexible tactile sensor, JDI was able to obtain a high-resolution pressure distribution image in which each toe could be easily identified. The use of JDI's flexible tactile sensor thus makes it possible to analyze pressure distributions and their transition for each part and location, which has been difficult to achieve with conventional sensor technology. The results of this development are expected to be applied to advanced motion analysis in the sports and medical fields and to provide tactile sensation to robots. In addition, by sending physical information such as walking and grip data to cyberspace, it will also be possible to use the sensor in the metaverse. Duyuru • May 12
Japan Display Inc. Announces Production End At Higashiura Fab Japan Display Inc. decided to end production of LCD panels at its Higashiura Fab by March 2023. Reason for production end: JDI has four display fabs in Japan, operating with glass substrate sizes ranging from G3.5 (600 mm × 720 mm) to G6 (1500 mm × 1850 mm). Higashiura is a G3.5 line, manufacturing relatively small LCD panels for products such as digital cameras and wearable devices that are suitable for production on smaller glass substrates. G3.5 lines have lower productivity and cost competitiveness relative to larger G6 lines. The demand for some displays produced at Higashiura has also decreased due to maturing end-markets. JDI has thus decided to end production at Higashiura in order to increase JDI's competitiveness and profitability. Higashiura's production of VR, automotive, and newly developed displays will be transferred to other JDI fabs, and JDI will offer on-going employment opportunities to Higashiura employees within JDI. JDI is also reviewing the possibility of Higashiura's sale or other use of the land and buildings after production end. Higashiura Fab Overview: Name: Higashiura Fab (G3.5 LCD line); Location: Higashiura-cho, Chita-gun, Aichi Prefecture; Business: Production of small-and medium-sized LCD panels; Number of Employees: 259 (as of April 30, 2022). Schedule: Production End- March 2023 (expected). Price Target Changed • Apr 27
Price target increased to JP¥40.00 Up from JP¥30.00, the current price target is provided by 1 analyst. New target price is 44% below last closing price of JP¥71.00. Stock is up 51% over the past year. The company is forecast to post a net loss per share of JP¥5.28 next year compared to a net loss per share of JP¥17.93 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Outside Director Nobuyuki Higashi is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Apr 08
Japan Display Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Japan Display Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Duyuru • Mar 31
Japan Display Inc. Develops World’S First G6 Oxide Semiconductor Tft with 4X Improvement in Field-Effect Mobility Japan Display Inc. has successfully developed the world's first backplane technology to radically improve the properties of conventional oxide semiconductor thin film transistors (OS-TFT) at its G6 Plant in Mobara, Japan, and will begin immediate commercialization of this new technology. JDI's new OS-TFT technology generates high-mobility oxide semiconductors, which have 2X the field-effect mobility of conventional OS-TFTs, and ultra-high mobility oxide semiconductors, which have 4X higher field-effect mobility than conventional OS-TFT. UHMO's field-effect mobility on JDI's G6 mass production line is 52cm2/Vs, an extraordinarily high level. More broadly, HMO enables the same level of on-current flow as LTPS, while maintaining low off-leak current. A further advantage of HMO is that while conventional high-mobility AMOLED backplanes require LTPS technology, which limits glass substrate sizes to G6, HMO can be used in G8 or larger production lines. JDI believes HMO will drastically accelerate display technology innovation and contribute to significant improvements in both OLED and LCD display performance, including: Lower power consumption; For Metaverse VR/AR displays, higher resolutions and higher refresh rates, driving deeper immersion and reality integration for users in the Metaverse; For transparent displays, higher transparency and image quality and bigger displays. Conventional OS-TFTs have a problem of bias temperature stress, which causes poor reliability and image deterioration when trying to obtain high field-effect mobility. However, by leveraging the manufacturing process know-how JDI has developed over many years, JDI has overcome these challenges with HMO, which is a new, breakthrough OS-TFT with superior characteristics. HMO achieves both high field-effect mobility and stable BTS to concurrently realize OS-TFT's low off-leak current and LTPS's image driving stability. HMO uses crystalline oxide materials developed by Idemitsu Kosan Co. Ltd. JDI is already in HMO deployment discussions with multiple customers and plans to start mass production in 2024. JDI believes that HMO is a breakthrough technology that has extremely broad application across display types and customer applications. As one use case, JDI plans to combine HMO with JDI's next-generation OLED technology to expand G6 wearable display production, with a sales target for this use case of c. JPY 25 billion in FY26/3 and JPY 50 billion in FY27/3. HMO builds upon JDI's core capabilities in backplane technology built over many years. Thus, additional expenses required for HMO commercialization will be less than JPY 1 billion. Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: JP¥0.46 (down from JP¥5.66 in 3Q 2021). Revenue: JP¥71.7b (down 1.5% from 3Q 2021). Net income: JP¥2.42b (down 82% from 3Q 2021). Profit margin: 3.4% (down from 18% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 4.7%, compared to a 7.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -JP¥11.53 to -JP¥5.73 per share. Revenue forecast steady at JP¥291.0b. Electronic industry in Japan expected to see average net income growth of 8.9% next year. Consensus price target of JP¥30.00 unchanged from last update. Share price rose 11% to JP¥41.00 over the past week. 