OLED display maker JOLED raises $229m from Japanese consortium

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Tokyo-based OLED devices manufacturer JOLED Inc has raised 25.5 billion yen ($229 million) from Innovation Network Corporation of Japan (INCJ), Sony Corporation and Nissha.

The money was raised by a capital increase through the third-party allotment of shares, the company said in a statement.

JOLED will use part of the funding to build production lines for the post-process at the recently established JOLED Chiba site. It claims to be the world’s first printed OLED display mass-production lines.

The Chiba site has a production capacity of around 220,000 units of OLED displays per month, and is slated to start operations in 2020, simultaneously with Nomi site where the pre-process is conducted.

JOLED will produce medium-sized (10- to 32-inch) printed OLED displays from the facilities. The products are applicable to areas such as automotive displays and high-end monitors.

“Nissha, who recently became a joint shareholder, produces film-based touch sensors as one of its major products. JOLED will work together with Nissha in the area of touch sensors for various OLED displays in the future,” the firm said.

JOLED was founded in 2015 through a partnership between INCJ, Japan Display, Sony and Panasonic to integrate Sony and Panasonic’s R&D functions for OLED display panels.

INCJ and Japan Display respectively hold 75 per cent and 15 per cent of the voting rights in JOLED, while Sony and Panasonic each have 5 per cent.