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

TOKYO, Jan 27 (Reuters) - Leading Japanese logistics firm Nippon Express Co 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 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.

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)

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