Nippon Express looking to sell Tokyo HQ building, could fetch over $965 mln -Yomiuri

NIPPON EXPRESS HOLDINGS

26/01/2021 23:54

TOKYO, Jan 27 (Reuters) - Leading Japanese logistics firm
Nippon Express Co  9062.T  is considering selling its
headquarters building in central Tokyo, possibly fetching more
than 100 billion yen ($965 million), the Yomiuri newspaper
reported on Wednesday.
    The report follows news last week that advertising giant
Dentsu Group Inc  4324.T  was also looking to sell its
headquarters located just blocks away from Nippon Express's
28-storey high-rise in the Shiodome district, near the posh
Ginza district.  urn:newsml:reuters.com:*:nL4N2JV1JI
    Tokyo has some of the most expensive land prices in the
world, but with more people working from home amid the COVID-19
pandemic, some firms are rethinking their real estate holdings.
    Nippon Express has plans to move its headquarters to another
area of Tokyo later this year, and had originally planned to
rent out space in the current building, the Yomiuri said. 
    It is now considering a sale because finding tenants to fill
the space is getting difficult, the paper said.
    Nippon Express was not immediately available for comment.
 ($1 = 103.6100 yen)

 (Reporting by Chang-Ran Kim; Editing by Himani Sarkar)
 ((ran.kim@thomsonreuters.com; +81-3-4520-1228;))