Japanese giant Toshiba has opened the door to bids for a possible takeover which would make a landmark deal in the country, according to a statement.

Toshiba said it will establish a special committee that will focus mainly on looking into potential bids from private equity and other investors. It will also engage in the negotiation process by confirming potential structures.

The committee will also analyze and compare offers and structures and identify the privatization offer best for the company’s stakeholders. It is set to provide significant information before the firm’s annual stockholders’ meeting.

Toshiba also dissolved its Strategic Review Committee, which will be taken over by the special committee. The board also decided to suspend its spin-off related strategic reorganization and portfolio divestitures.

Toshiba said the share transfer of Toshiba Carrier Corporation has remained unchanged, with the completion seen by September. TOSYY is down 1.77%.