Nissan Motor Co. has agreed to sell its global headquarters in Yokohama for ¥97 billion ($630 million) to a group sponsored by Taiwanese 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 people familiar with the matter, who asked not to be named discussing private information. Bloomberg News reported the deal earlier.
KJR said it will act as asset manager together with Mizuho Real Estate Management.
Shares of Nissan, which will release earnings later Thursday, rose as much as 3.9% in Tokyo before paring gains to 1.1%. The stock is still down around 27% this year. Minth Group’s Hong Kong-listed shares were down 0.5% after a three-day rally.
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 in operating income losses for the fiscal year ending March 2026 — its first outlook after having previously withheld guidance. The deficit could be partially softened by offloading its riverside offices in Yokohama.
Minth Group is the primary investor in the ¥97 billion 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.
“The proceeds will be used to maintain critical investments, while also enabling modernization of internal systems,” Nissan said. The transaction won’t affect operations or staffing at its headquarters. “This move reflects a disciplined approach to capital efficiency unlocking value from non-core assets to support transformation during the challenging years,” the carmaker said.
Nissan’s headquarters had originally been located in Ginza, an upmarket shopping district in Tokyo, but it relocated in 2009 after construction of a new office in Yokohama, where the company was founded.
Chief Executive Officer Ivan Espinosa pledged earlier this year to cut 20,000 jobs and reduce Nissan’s global manufacturing operations from 17 sites to 10.
The struggling company has faced cratering profits and a mountain of debt, after a revolving-door leadership and aging lineup were compounded by weak sales in the US and China.
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