Following the rumor, Toshiba's shares have jumped 8.2% to close at ¥174.7 and recorded the biggest gain in almost five years. Fujitsu shares have ended 2.5% higher while Vaio is not listed till now.

The potential venture will focus on overseas markets while other forms of hardware remain as a possibility, predicts Moue. Moue's prediction is based on Vaio's recent release of a Windows 10 smart phone and planning for a robot companion product.

The tripartite deal has been analyzed as meaningful for building a niche consumer base in Japan. However, this approach of merging poses a little chance of success outside Japan, presumes Damian Thong, an analyst at Macquarie Group Ltd. in Tokyo.

Combined operation of the trio is believed to command about a third of the Japanese market. It is expected to appear in contention to the No. 1 spot with a joint venture between Lenovo and Japan's NEC Corp.

NEC Lenovo has controlled around 29% of PC shipments in Japan from July to September, according to the data revealed by IDC. Fujitsu and Toshiba follow with 17% and 12% respectively while Vaio doesn't disclose sales numbers.