LG Display Co., Ltd. | CIK:0001290109 | 3

  • Filed: 4/27/2018
  • Entity registrant name: LG Display Co., Ltd. (CIK: 0001290109)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1290109/000119312518136619/0001193125-18-136619-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1290109/000119312518136619/lpl-20171231.xml
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  • ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory

      (a) Associates at the reporting date are as follows:

     

    (In millions of won)                                                

    Associates

      

    Location

      

    Fiscal

    year end

      

    Date of
    incorporation

      

    Business

       2016      2017  
                   Percentage
    of
    ownership
         Carrying
    amount
         Percentage
    of
    ownership
         Carrying
    amount
     
    Paju Electric Glass Co., Ltd.   

    Paju,

    South Korea

       December 31   

    January

    2005

       Manufacture electric glass for FPDs      40%        W    52,750        40%        W    46,511  
    New Optics Ltd.(*1)   

    Yangju,

    South Korea

       December 31   

    August

    2005

       Manufacture back light parts for TFT-LCDs      46%        40,045        —          —    
    INVENIA Co., Ltd.   

    Seongnam,

    South Korea

       December 31   

    January

    2001

       Develop and manufacture equipment for FPDs      13%        2,450        13%        2,887  
    WooRee E&L Co., Ltd.   

    Ansan,

    South Korea

       December 31   

    June

    2008

       Manufacture LED back light unit packages      14%        8,627        14%        7,270  
    LB Gemini New Growth Fund No. 16 (*2)   

    Seoul,

    South Korea

       December 31   

    December

    2009

       Invest in small and middle sized companies and benefit from M&A opportunities      31%        8,647        31%        5,910  
    Can Yang Investments Limited (*1)(*3)    Hong Kong    December 31   

    January

    2010

       Develop, manufacture and sell LED parts      9%        5,580        —          —    
    YAS Co., Ltd. (*4)   

    Paju,

    South Korea

       December 31   

    April

    2002

       Develop and manufacture deposition equipment for OLEDs      18%        9,883        15%        15,888  

     

    (In millions of won)                                              

    Associates

      

    Location

      

    Fiscal

    year end

      

    Date of
    incorporation

      

    Business

       2016      2017  
                   Percentage
    of
    ownership
       Carrying
    amount
         Percentage
    of
    ownership
         Carrying
    amount
     

    Narenanotech

    Corporation (*1)

      

    Yongin,

    South Korea

       December 31    December 1995    Manufacture and sell FPD manufacturing equipment    23%      W23,717        —          W    —    
    AVATEC Co., Ltd.   

    Daegu,

    South Korea

       December 31   

    August

    2000

       Process and sell electric glass for FPDs    17%      20,984        17%        23,732  
    Arctic Sentinel, Inc.    Los Angeles, U.S.A.    March 31   

    June

    2008

      

    Develop and manufacture

    tablet for kids

       10%      —          10%        —    
    CYNORA GmbH (*5)   

    Bruchsal,

    Germany

       December 31   

    March

    2003

       Develop organic emitting materials for displays and lighting devices    —        —          14%        20,309  
                           
                     

     

     

           

     

     

     
                        W172,683           W122,507  
                     

     

     

           

     

     

     

    Although the Controlling Company’s share interests in INVENIA Co., Ltd., WooRee E&L Co., Ltd., YAS Co., Ltd., AVATEC Co., Ltd., Arctic Sentinel, Inc. and Cynora GmbH are below 20% as of December 31, 2017, the Controlling Company is able to exercise significant influence through its right to appoint a director to the board of directors of each investee or the transactions between the Controlling Company and the investees are significant. Accordingly, the investments in these investees have been accounted for using the equity method.

     

    (*1) During the year ended December 31, 2017, the Controlling Company disposed of the entire investments in New Optics Ltd., Can Yang Investments Limited and Narenanotech Corporation.
    (*2) The Controlling Company is a member of a limited partnership in the LB Gemini New Growth Fund No.16 (“the Fund”). During the year ended December 31, 2017, the Controlling Company received W2,076 million from the Fund as capital distribution and there were no changes in the Controlling Company’s ownership percentage in the Fund. On the other hand, a resolution to dissolve the fund was approved at the general meeting and the fund is in process of liquidation as of December 31, 2017.
    (*3) The Controlling Company recognized an impairment loss of W4,234 million as finance cost for the difference between the carrying amount and the recoverable amount of investments in Can Yang Investments Limited.
    (*4) In 2017, the Controlling Company’s ownership percentage in YAS Co., Ltd. decreased from 18% to 15% as the Controlling Company did not participate in the capital increase of YAS Co., Ltd.
    (*5) In September 2017, the Controlling Company invested W20,309 million in cash and acquired 88,584 shares of preferred stock with voting rights in CYNORA GmbH.