Investing.com-- Shares of Taiyo Holdings Co Ltd (TYO: 4626 )s rose sharply on Wednesday after Bloomberg reported the Japanese chemicals manufacturer received takeover proposals from two companies, including private asset major KKR & Co LP (NYSE: KKR ).

Taiyo’s shares jumped 3.8% to 5,430.0 yen, compared to a 0.7% increase in the Nikkei 225 index.

Bloomberg reported that Taiyo had established a special committee to mill over the takeover bids, Bloomberg reported, citing people familiar with the matter.

Taiyo manufacturers chemicals specifically for electronics applications, with the company holding an over 50% global market share in solder masks

Bloomberg reported earlier this year that Taiyo was considering a potential merger with DIC Corp (TYO: 4631 ), a deal that could create one of Japan’s largest industrial chemicals manufacturers.