In a strategic move to bolster its financial recovery, Nissan Motor Co. announced on Thursday the sale of its headquarters building in Yokohama for 97 billion yen ($630 million). The Japanese automaker, which has been grappling with significant financial losses, will lease back the property and continue to use it as its headquarters. The transaction with Tokyo-based real estate operator MJI Godo Kaisha, a subsidiary of Hong Kong-listed Minth Group, is expected to yield a gain of 73.9 billion yen ($480 million) for Nissan. The proceeds will be allocated toward modernizing internal systems, accelerating the adoption of AI-driven technologies, and enhancing digital operations across the company. Nissan, known for its March subcompact and Infiniti luxury models, has been striving to return to profitability after reporting a staggering 670.9 billion yen ($4.4 billion) loss for the fiscal year ending in March. Under the leadership of new CEO Ivan Espinosa, a seasoned Nissan executive with two decades of experience, the company is implementing a comprehensive turnaround strategy. This includes workforce reductions of 15%, affecting approximately 20,000 employees globally, and the closure of its flagship factory in Oppama, Japan. Nissan emphasized that the sale of its headquarters building aligns with its disciplined approach to capital efficiency, unlocking value from non-core assets to support its transformation during challenging times. The company remains committed to innovation, competitiveness, and aggressive research to secure future growth.
Money-losing Japanese automaker Nissan is selling its headquarters building to gain cash
