We have been approached by several firms, a KDDI spokesman said in a press release.

The Japan Industrial Journal speculated on Friday’s that eight companies including Britain’s Virgin Group had inquired about the possibility.

The Journal quoted Jiro Ushio, KDDI board chairman, stating that the company would begin negotiations with six potential buyers.

It is thought that that the estimated selling price will exceed 50 billion yen ($408.5 million).

Tuka, which consists of three regional operators in which KDDI holds stakes of more than 50%, has four million subscribers.