Toshiba Corporation (TSE:6502) is seeking to stake up to 30% in its semiconductor business. The company has hired The Goldman Sachs (NYSE:GS), to prepare the sale, Bloomberg reported citing the people in the know. Through the divestment of 20% to 30% of its semiconductor operations, Toshiba is aiming to reduce losses from a write-down of its nuclear unit.

The devaluation is expected to range from ¥400 billion to ¥ 700 billion, an insider said as cited by the news agency. Toshiba will seek to receive first offers at the beginning of February, 2017 in order to choose a buyer by end-March, 2017. Potential suitors include foreign buyout funds, Bloomberg reported.

Canon Inc. (TSE:7751) will contemplate the possibility of filing an offer, if it is invited as investor, a spokesman said when contacted by Bloomberg.