Nissan Reportedly to Sell Headquarters for Fresh Funds

KatadataOTO – Financial pressure on Nissan continues. The Japanese manufacturer is reportedly considering selling its headquarters in Yokohama, Japan.

Nissan has even reportedly included the office among the assets it plans to sell by March 2026. According to Carscoops, this move is seen as a way for the company to survive longer.

However, this is certainly not easy. The location has been Nissan's headquarters since relocating from Tokyo in 2009 and is very strategic due to its proximity to the busy Yokohama station.

The property is estimated to be worth more than 100 billion yen, equivalent to 11.3 trillion rupiah. These funds could certainly help the company's finances to close seven of its 17 global factories.

It was previously reported that Nissan is in quite severe financial trouble, especially after a merger with Honda failed.

However, Toyota was rumored to have opened communication with Nissan. The largest automotive company is reportedly planning to form an alliance.

Unfortunately, as of this writing, there is no further information regarding this news. However, Ivan Espinosa, CEO of Nissan, said that they are open to all cooperation opportunities.

But their main priority now is to stabilize the company's financial condition first.

To reduce expenses, Nissan has taken several strategic steps, including laying off 10,000 workers worldwide.

With this, Nissan will likely lay off 20,000 people, or about 15 percent of its total global workforce. This number will be reached during the 2024 fiscal year, or from April 1, 2024, to March 31, 2025.

In addition, Nissan has also canceled the construction of an EV (Electric Vehicle) battery factory in Japan. They have even closed their production facility in Wuhu, China, due to plummeting sales in the country.

All the steps taken are expected to save the company after suffering a loss of 750 billion yen, or about 84 trillion rupiah, during the 2024 fiscal year.