Japanese buyout firms Japan Industrial Partners (JIP) and Polaris Capital Group are each considering participating in bids for Toshiba, two people familiar with the matter said Friday.
Toshiba, which has been bedeviled by accounting and governance crises since 2015, set up a special committee last month to explore strategic options, including potential deals to go private, after shareholders voted down a management-backed restructuring plan.
Both funds, far smaller than some global private equity firms, would need to team up with others, the sources said. The participation of local funds is seen as critical as some of Toshiba's assets — including defense equipment and nuclear power — are strategically important in Japan.