TOKYO, May 12 Reuters Toshiba Corp said on Friday it was working with Japan Industrial Partners JIP to quickly complete a 15billion buyout by the private equity firm, as the industrial conglomerate forecast another year of weak earnings.

After Toshiba39;s board in March accepted a 2 trillion yen 14.8 billion buyout offer from the JIPled group, Toshiba has received positive responses from various stakeholders, including many customers, business partners and employees, it said in a statement.

The management team concluded there was an expectation that the transaction would help the company build a stable management base, and is therefore working with JIP to quickly complete the transaction, it said.

The board has yet to decide whether to recommend shareholders tender their shares, saying that while the deal would give shareholders a reasonable exit to recover their investment, the offer price of 4,620 yen per share is likely not satisfactory.

Toshiba chief financial officer Masayoshi Hirata reiterated at an earnings briefing on Friday that the board would make its decision before JIP starts its tender offer in late July. He added that he had not heard of any new offer from other parties.

The company plans no major changes to its board composition for its annual shareholders meeting in June, as the board39;s main responsibility now is to oversee management39;s effort to realise the buyout, it said.

Toshiba forecast an operating profit of 110 billion yen for the…