Sony Corporation (TSE:6758) and FUJIFILM Holdings Corporation (TSE:4901) are considering offers to buy Toshiba Corporation (TSE:6502) subsidiary Toshiba Medical Systems Corporation, raising the prospect of a bidding war for the business. Toshiba will start preparing for the auction as early as week starting January 11, 2016. Multiple funds, such as KKR & Co.

L.P. (NYSE:KKR), might participate as well. Other companies seen as potential buyers include Hitachi Ltd. (TSE:6501), Canon Inc. (TSE:7751), GE Healthcare Limited and Samsung Electronics Co. Ltd. (KOSE:A005930).

Toshiba plans to sell at least 51% of Toshiba Medical Systems. The first around of bidding will be held early February 2016, followed by a second round involving two or three leading candidates. A buyer will be chosen by March 2016.