Nissan may sell global headquarters for survival

Even if Nissan does sell its headquarters, it may continue using the facility on lease from its new owner.

Troubled automaker Nissan could sell its global headquarters as part of its cost-cutting measures. Nissan moved its base from Tokyo to Yokohama in 2009. According to a local realtor, the building is estimated to be worth over 100 billion yen, or about $700 million.

According to a fresh media report, the HQ appears on a list of assets Nissan intends to sell by the end of March 2026. New CEO Ivan Espinosa has also announced upcoming asset sales. He hasn’t mentioned the HQ complex, though.

Even if Nissan does sell its headquarters, it may continue using the facility on lease from its new owner.

As reported earlier, Nissan is also closing seven factories, including two domestic sites, reportedly identified as the Oppama and Shonan plants. 20,000 job cuts are also expected in the coming years.

The carmaker is also halting the development of a few models to cut costs. Additionally, six vehicle platforms are being dropped, leaving just seven in the lineup. Another goal is to unify more products by reducing parts' complexity by 70 percent. 3,000 R&D employees have been reassigned to work on “cost reduction initiatives.”

Nissan is banking on badge re-engineered cars with Renault for new models and strengthening its partnership with Mitsubishi for new products.

The failed merger talks with Honda were a big blow to Nissan, which is now looking at means to survive on its own.

Source: Motor1