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Tokyo-based Apple supplier Japan Display is reportedly considering an initial public offering which could raise up to $2bn.

The firm makes screens for the iPhone 5C as well as the 5S. It was created by a government-backed fund which integrated screen-making businesses spun off from Japanese firms Sony, Toshiba and Hitachi after they struggled to compete with South Korean tech behemoth Samsung in the display arena.

The gov-backed vehicle, Innovation Network Corporation of Japan, now owns 70 per cent of the company, while Sony, Toshiba and Hitachi were each given just under 10 per cent.

Unnamed sources told the Wall Street Journal about the possible IPO, which is expected to take place by March next year. The company is expected to achieve a market valuation that could be as high as $8bn, according to reports.

The display manufacturer employs some 6,200 workers and owns five factories in Japan and a further five in other countries.

So far, the Japanese firm has stayed tight-lipped on the IPO rumours.

In a statement, it said: "Japan Display Inc (JDI) wishes to make clear that today’s media reports concerning JDI’s plan to list its stock are not based on any statement made by JDI.

"JDI currently has nothing specific to announce relating to the subject matter of the media reports referred to above." ®

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