JIP, Chubu Electric and Orix will each invest 100 billion yen, the paper said, without saying where it got the information. A Toshiba representative declined to comment, saying the company could not "answer information about candidates, including co-investors, as it may undermine fair process". Investor focus could now turn to another potential bidder, state-backed fund JIC, which sources have said is also preparing a bid. The fund has been in talks with U.S. private equity fund Bain Capital and north Asia fund MBK Partners to form a separate consortium, sources have said. Differences over JIP's plan to retain Toshiba's management were a source of friction between the two, Reuters has reported.

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