TOKYO: Nissan Motor Co has agreed to sell its global headquarters (HQ) in Yokohama for 97 billion yen to a group sponsored by Hong Kong-listed autoparts maker Minth Group, as the struggling automaker seeks to shore up its financial position.
The acquisition will be led by a special purchase company managed by KJR Management, a Japanese real estate unit of private equity giant KKR & Co, according to sources.
Bloomberg reported the deal earlier.
Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples with its worst financial position in more than two decades.
The automaker last week forecast 275 billion yen in operating income losses for the fiscal year ending March 2026 – its first outlook after having previously withheld guidance.
Additionally, the deficit could be partially softened by offloading its riverside offices in Yokohama.
Minth Group is the primary investor in the 97 billion yen transaction, which is part of a 20-year sale and leaseback agreement, Nissan said in a filing.
Nissan will book a net gain of about 74 billion yen.
“The proceeds will be used to maintain critical investments, while also enabling modernisation of internal systems,” Nissan said.
The transaction won’t affect operations or staffing at its headquarters. — Bloomberg
