TOKYO -- A consortium led by the investment fund Japan Industrial Partners has submitted a final acquisition proposal to Toshiba, Nikkei learned on Thursday, as the troubled company's restructuring enters a final stretch nearly two years after the initial takeover offer.

Major Japanese banks including megabanks Sumitomo Mitsui Banking Corp., Mizuho Bank, and MUFG Bank have promised JIP loans totaling around 1.2 trillion yen ($9.1 billion) in a commitment letter. SMBC and Mizuho will each provide around 500 billion yen, followed by Sumitomo Mitsui Trust Bank, MUFG Bank and Aozora Bank.