TOKYO, Nov 16 (Reuters) – Japanese chipmaker Rohm Co Ltd (6963.T) mentioned on Wednesday it was contemplating becoming a member of a consortium led by personal fairness fund Japan Industrial Companions (JIP) to purchase out Toshiba Corp (6502.T), as JIP works to consolidate its proposal.
The Nikkei newspaper reported that Kyoto-based Rohm deliberate to take a position as much as about 300 billion yen ($2.14 billion) within the proposed 2.2 trillion yen acquisition of Toshiba, citing a number of sources it didn’t title.
A Rohm spokesperson confirmed that the corporate was contemplating becoming a member of the JIP consortium for the buyout however added that nothing had been determined, together with the quantity of any funding.
Rohm and Toshiba are each main producers of energy administration chips, which effectively management electrical energy in automobiles, digital units and industrial gear. It is an space the place Japan nonetheless holds strengths regardless of its shrinking presence within the international chip trade.
JIP has contacted a number of Japanese firms to affix the bid for Toshiba, together with utility Chubu Electrical Energy Co Inc (9502.T) and monetary providers group Orix Corp (8591.T), sources accustomed to the matter have mentioned.
The Nikkei additionally reported that automaker Suzuki Motor Corp (7269.T) deliberate to take a position some tens of billions of yen within the proposed deal, whereas development agency Taisei Corp (1801.T) additionally meant to participate, although the dimensions of its proposed funding was unknown.
Suzuki buys automotive batteries from Toshiba.
Greater than 10 Japanese firms would make investments a complete of 1 trillion yen for the bid for Toshiba, with the remainder to be financed by banks and others holding no voting rights, the Nikkei mentioned.
Toshiba, Suzuki and Taisei declined to remark when contacted by Reuters.
($1 = 139.8900 yen)
Reporting by Mariko Katsumura, Makiko Yamazaki and Satoshi Sugiyama; Writing by Daniel Leussink; Enhancing by Christopher Cushing and Tom Hogue
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