JOLED, the world’s first to successfully commercialize solution process OLED products, announced that it had raised a total of 47 billion yen as a third-party capital increase.

According to JOLED, Denso will invest 30 billion yen, Toyota Tsusho 10 billion yen, Sumitomo chemical 5 billion yen and SCREEN Finetech Solutions 2 billion yen. JOLED is known to cooperate with Denso to develop automotive displays and Sumitomo chemical to develop OLED materials for solution process.

In particular, Denso has been mainly using TFT-LCD for automotive displays, but it is expected to lead the development for applying lightweight and easy-to-shape OLED to automobile interior through this investment.

It is expected that this funding will accelerate the establishment of production system for the mass-production of JOLED’s solution process OLED. JOLED announced on July 1 that it would set up a “JOLED Nomi Office” in Nomi-city, Ishikawa, and aim to operate in 2020.

Major production products are medium-sized (10 to 32-inch) solution process OLEDs that will be used for cars or high-end monitors. Also, Toshiaki Arai, chief technologist of JOLED announced that they would target the middle-sized OLED market with solution process OLED, at the 2018 OLED Korea conference hosted by UBI Research in March.