Nissan considers sale of headquarters in Yokohama, Nikkei says

TOKYO: Nissan Motor is considering selling its headquarters in Yokohama City as part of restructuring plans that include the closure of seven factories worldwide, the Nikkei daily reported on Friday.

The headquarters' asset value is estimated at over 100 billion yen (US$700 million), with proceeds potentially covering restructuring costs, the report said without citing sources. Nissan plans to use a "sale and leaseback" method, in which it would enter into a lease agreement with the buyer and continue to use the facility.

Nissan said in its statement that the company is considering all possibilities for business recovery but it has nothing to announce at this time.