Shulou(Shulou.com)11/24 Report--

According to Japanese media reports, Japanese chipmaker Rohm and carmaker Suzuki Motor have participated in a proposal by Japanese private equity firm Japan Industrial Partners (JIP) to buy Toshiba.

Founded in July 1875, Toshiba, Japan's largest semiconductor manufacturer and second-largest integrated motor maker, is part of Mitsui Group, which is seeking a takeover offer to privatize Toshiba.

It is reported that a consortium led by Japanese private equity firm JIP and led by Japanese government-backed investment fund Japan Investment Corp (JIC), as well as Bain Capital, CVC Capital Partners, MBK Partners and Brookfield Asset Management are all preparing to bid for Toshiba.

According to foreign media reports, JIP has invited more than 10 companies, including Central Electric Power Company (Chubu Electric Power Co.), financial services giant Orix Corp., Japan Life Insurance Company (Nippon Life Insurance Co.), Japan Toray Co., Ltd. (Toray Industiries) and Donghai passenger Railway (Central Japan Railway Co.), to join its consortium.

Earlier, the consortium led by JIP was awarded Toshiba's preferred bidder status. On October 18, two sources said that the preferred bidder for Toshiba was below the widely believed threshold of 6000 yen per share, making the value of a potential offer less than 2.6 trillion yen, suggesting that the premium to Toshiba may not be as high as investors expected.

Earlier this month, foreign media reported that JIP had submitted a proposal to buy Toshiba for 2.2 trillion yen ($15 billion). Although JIP has submitted a proposal to buy Toshiba, it has not yet received a letter of loan commitment from financial institutions, raising questions about the success of the proposal. If Toshiba accepts JIP's offer, JIP plans to complete the financing by the end of November.

Today, Japanese media reported that Rohm and Suzuki had participated in JIP's proposal to buy Toshiba. Japanese media quoted several sources as saying that Rohm will invest about 300 billion yen ($2.14 billion), while Suzuki will invest tens of billions of yen. However, a spokesman for Rohm said the company was considering joining the JIP consortium to bid for Toshiba, but had not made any decision, including the amount of the alleged investment.

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