November 6, 2019
Notice Concerning the Recording of Non-Operating Expense (Losses Related to Tyhoon No. 15)
Japan Display, Inc. ("JDI") today announced that it will incur losses related to Typhoon No. 15 that struck Japan in early September. The losses will be recorded as a non-operating expense in the consolidated second quarter of FY 2019, ending March 31, 2020. Details of the losses are described below.
1. Non-operating expense
Due to the impact of damage caused by typhoon No. 15 to JDI facilities in Japan on September 8, 2019, the Mobara Plant (Mobara City, Chiba Prefecture) incurred losses of ¥613 million as a result of the suspension of operation of some manufacturing equipment and damages to work in process, along with other losses. The losses will be recorded under "other" in non-operating expenses in the second quarter of FY 2019.
As JDI is currently in discussions with its insurance company regarding these losses, the total amount of insurance payment that will be received to cover these losses has not yet been determined.
The above-mentionednon-operating expense will be reflected in the "Consolidated Financial Results for the Six Months of Fiscal Year 2019 [Japanese GAAP]" scheduled to be announced on November 13, 2019.
The insurance payment that will cover the losses will be recorded as non-operating income when the amount has been confirmed.
Aside from losses and income related to the typhoon, JDI will annnounce any other non-operating income/expenses or extraordinary income/losses that need to be disclosed for the second quarter of FY 2019 when these have been determined.
Japan Display Inc. published this content on 06 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2019 06:44:01 UTC