Japan Display : (Delayed) Notice Concerning Postponement of Announcement of Financial Results for the Third Quarter of Fiscal Year 2019 (Ending March 2020)

January 31, 2020

[English Translation]

Notice Concerning Postponement of Announcement of Financial Results

for the Third Quarter of Fiscal Year 2019 (Ending March 2020)

Japan Display Inc. ("JDI") announces that it has decided to postpone the announcement of financial results for the third quarter of Fiscal Year 2019 (ending March 2020) (the "Announcement of Financial Results for the Third Quarter of FY 2019") originally scheduled for February 13, 2020.

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1. Reason for postponing the announcement of third-quarter financial results

As previously announced, JDI received a notice from a former employee of JDI's administrative division (the "Former Employee") who was dismissed after JDI discovered that this Former Employee had engaged in improper accounting, and against whom JDI has filed a criminal complaint. In the notice, the Former Employee alleged that the reason for the improper accounting treatment was that the Former Employee was acting under instructions from senior management during the Former Employee's period of employment at JDI. In response, on December 26, 2019, JDI established a Third-Party Committee to delegate a fact-finding investigation of suspicions regarding improper accounting in past financial periods alleged by the Former Employee and any other relevant matters (the "Alleged Suspicions").

JDI is currently fully cooperating with the fact-finding investigation conducted by the Third-Party Committee, which is moving the investigation swiftly forward. However, due to the considerable time required to determine the financial results based on the fact-finding investigation and the results thereof, JDI has decided to postpone the Announcement of Financial Results for the Third Quarter of FY 2019 originally scheduled for February 13, 2020.

2. Future plans

JDI will continue to fully cooperate with the fact-finding investigation conducted by the Third-Party Committee. Although it has not been determined at this time when the fact-finding investigation will end, as soon as JDI receives the committee's fact-finding report, JDI will promptly disclose it. Also, the impact of the results of the fact-finding investigation on JDI's financial performance as well as a new date for the Announcement of Financial Results for the Third Quarter of FY 2019 will be announced soon after they are determined.

As stated in the press releases separately announced today titled "Notice Concerning Conclusion of Capital Alliance

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Agreement, Issuance of Class B Preferred Shares and Stock Acquisition Rights through Third-party Allotment, and Change in the Largest Major Shareholder" and "Notice Concerning Issuance of Class A Preferred Shares through Third-party Allotment, (Changes) Borrowing of Funds, and (Changes) Transfer of Shares of Equity Method Affiliate," JDI has concluded (i) a capital alliance agreement (the "Capital Alliance Agreement") with Ichigo Trust ("Ichigo Trust"), and (ii) various agreements regarding refinance (the "Agreements related to Refinance") with INCJ, Ltd. ("INCJ"). Ichigo Trust and INCJ entered into the Capital Alliance Agreement and the Agreements related to Refinance, respectively, after acknowledging JDI's decision to postpone the Announcement of Financial Results for the Third Quarter of FY 2019. Neither the receipt of the results of the fact-finding investigation concerning the Alleged Suspicions nor the Announcement of Financial Results for the Third Quarter of FY 2019 by JDI are conditions precedent for the third-party allotment to Ichigo Trust under the Capital Alliance Agreement or the refinance under the Agreements related to Refinance.

JDI would like to offer its profound apologies to its business partners and other relevant parties for any inconvenience and concerns caused by this situation.

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