Japan Investment Corp to set up 2nd Toshiba restructuring plan

Source: Reuters

State-backed Japan Investment Corp (JIC) is considering a second proposal for Toshiba Corp's restructuring plan, breaking off with Japan Industrial Partners (JIP) with which it linked up in the first round of bidding, Kyodo news reported on Wednesday.

Toshiba has sought strategic proposals and restructuring plans, including going private after a buyout.

JIP and JIC disagreed over the best proposal for Toshiba, prompting JIC to consider a new partnership with other funds that passed Toshiba's first bidding round, including Bain Capital or CVC Capital Partners, Kyodo said.