(Bloomberg) -- Toshiba Corp. jumped after the company said it hired outside advisers as it plans to start seeking proposals from potential investors on privatization and other strategic alternatives.

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Shares climbed as much as 6.5% in Tokyo on Friday. Toshiba retained Nomura Securities Co. as financial adviser and Nishimura & Asahi as legal adviser, it said in a statement on Thursday evening.

The company said earlier this month that it would set up a special committee that will, among other things, “identify the privatization offer that is best for our diverse stakeholders.”

Toshiba will evaluate feasible proposals, including the likelihood of each transaction being approved by Japan’s authorities, it said.

Analysts say the likelihood of Toshiba going private has increased, but one obstacle is whether Japan’s government would approve such a sale. Japan’s authorities list Toshiba, with its expertise in nuclear power, as a company of interest to national security under the Foreign Exchange and Foreign Trade Act.

Read more: Toshiba’s Talk of Privatization Leaves Some Analysts With Doubts

(Updates with share move from first paragraph)

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