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.