As part of efforts to improve efficiency, Subaru parent Fuji Heavy Industries Ltd. is selling its 44-year-old headquarters building in central Tokyo to Odakyu Electric Railway for a profit of about 25 billion yen ($293 million). In a statement, Fuji Heavy said that the building didn’t have sufficient space and that it would "realign" its other three offices in the Tokyo metropolitan area to become more efficient. Fuji Heavy also revealed that this profit will be booked on the deal in the year to March 2012 as the sale is expected to take place in the next fiscal year. Fuji Heavy said that Odakyu Electric will pay 34 billion yen for the building. The profit from the deal is expected to be similar in size to its net profit forecast for the six months to Sept. 30, 2010. A Fuji Heavy spokesman said that Fuji Heavy will rebuild a property in Tokyo's Shibuya district. In October 2014, the company will transfer its headquarters operations there after renting the current headquarters building. [via autonews - sub. required]
Subaru to sell its headquarters building in central Tokyo for $239 million
by Andrew Christian, Email, 01 Sep, 2010
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