JDI Commits Accounting Fraud and Pads Earnings since 2014

Japan Display announced that the company has been involved in improper accounting treatment with a total padded operating profit of JPY 8.2 billion (US$ 76.12 million) in the past six years since 2014, when the company was listed on the first section of the Tokyo Stock Exchange. The company was investigated by a third-party committee and revealed the results on April 13, 2020.


(Image: JDI)

The investigation showed that JDI recorded fictitious inventory of JPY 10 billion (US$92.86 million) in total since the fourth quarter of fiscal 2013. The investigation also identified 10 other issues that JDI committed to manipulate profit.

JDI published a notice regarding the investigation report with sincere apology to its shareholders, business partners and other stakeholders and claimed that it will focus on preventing recurrence and improve business performance to restore trust.

JDI was established in 2012 by merging the LCD units of Sony, Toshiba and Hitachi and has been a iPhone display supplier. However, the company has been struggling with its weak business performance in the competitive display market and are trying to engage in new display technology. Last year in November, JDI presented a Micro LED display with glō, the Sweden/US-based Micro LED technology builder, at FINTECH JAPAN 2019.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.
Display devices have been used for many years as a means of HMI (Human Machine Interface) to connect humans and machines interactively, and their usage are still expanding. Automotive interiors are no exception to this trend, with an increasing ... READ MORE
About LiDAR Automotive industry trends In recent years, many vehicles have been launched with ADAS (Advanced Driver Assistance Systems) as standard equipment. As the future evolves towards more automated driving, sensing around the vehicle i... READ MORE