LCD maker Japan Display mulls raising $470m

A signboard of Japan Display Inc is seen at its factory in Mobara, Chiba prefecture, June 3, 2013. REUTERS/Toru Hanai

Embattled liquid crystal display (LCD) maker Japan Display Inc said its board will discuss on Friday a plan to raise 50 billion yen ($470 million), including more than 30 billion yen through a third-party allotment of new shares.

The fundraising, which Japan Display said would also include a sale of assets, underscores the challenges being faced by the company as it stares at a fourth straight year of net losses and struggles in its search for a global partnership.

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