TOKYO (Reuters) -Nissan Motor has concluded a 97 billion yen ($643 million) deal to sell and lease back its global headquarters in Yokohama, Japan, as part of its business restructuring plans, the automaker said on Thursday. Nissan expects to book about 73.9 billion yen in extraordinary income from the deal in the current fiscal year […]
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Nissan sells, leases back headquarters in $643 million deal
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TOKYO (Reuters) -Nissan Motor has concluded a 97 billion yen ($643 million) deal to sell and lease back its global headquarters in Yokohama, Japan, as part of its business restructuring plans, the automaker said on Thursday.
Nissan expects to book about 73.9 billion yen in extraordinary income from the deal in the current fiscal year running through March 2026, it said in a disclosure.
The buyer of the trust beneficiary rights of land and building is an entity named MJI Godo Kaisha, and the 20-year lease agreement is with Mizuho Trust & Banking, Nissan said. It did not give an amount for the lease payment, saying the buyer of the property did not want it disclosed.
A special purpose company sponsored by Hong Kong-listed auto parts maker Minth Group and led by a unit of private equity firm KKR & Co bought the Nissan assets for 90 billion yen, Bloomberg News reported earlier.
KKR was the leading candidate to buy Nissan’s Yokohama headquarters after submitting the highest bid, a source familiar with the matter told Reuters in August.
Nissan will announce its earnings for the half-year through September later on Thursday.
($1 = 150.7800 yen)
(Reporting by Kantaro Komiya; Editing by Tom Hogue)