Shares of Japan Display Inc. were up 7.3% in Friday afternoon trading in Tokyo, propelled by a local media report that the company was planning a new facility in Japan to make screen panels for Apple Inc. The Nikkan Kogyo newspaper said Japan Display, which has previous supplied components for Apple devices, would invest more than $1.7 billion to construct the new plant in Ishikawa Prefecture, according to a Reuters summary of the report. Apple would supply a large but unspecified piece of the funding for the new facility, which would be targeted to open next year, Reuters cited the Nikkan Kogyo as saying.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below