Nissan Might Sell Its Home to Survive: Report
Drastic times call for drastic measures. Amid a series of cost-cutting efforts in its fight for survival, Nissan may also part ways with its global headquarters. The troubled Japanese automaker moved its base from Tokyo to Yokohama in 2009, following two years of construction. Located in the Minato-Mirai 21 district, the building is estimated to be worth over 100 billion yen, or about $700 million, according to a local realtor.
A fresh report from
Nikkei Asia
claims the HQ appears on a list of assets Nissan intends to sell by the end of March 2026. The company's newly appointed CEO, Ivan Espinosa, has already announced upcoming asset sales, although he hasn't explicitly mentioned the complex. Nippon Hoso Kyokai (Japan Broadcasting Corporation), or
NHK
, also alleges the building is up for grabs.
Photo by: Nissan
Even if Nissan decides to sell its global headquarters, it may continue using the facility by leasing it from the new owner. This wouldn't be without precedent in the automotive industry. McLaren did the same a few years ago with its
HQ in Woking
through a sale-and-leaseback deal to reduce debt.
Selling its headquarters would be yet another entry in a growing list of major cost-cutting moves following a
$4.5 billion
loss last year. Nissan is closing seven factories, including two domestic sites, reportedly identified as the Oppama and Shonan plants. The workforce will be significantly reduced, with 20,000 jobs to be eliminated in the coming years.
Nissan is even halting the development of certain models to cut expenses. 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. After the
failed merger with Honda
, Nissan is trying to figure out how to survive on its own.
To grasp the seriousness of the situation, consider that some 3,000 R&D employees have been reassigned to work on 'cost reduction initiatives.' Elsewhere, badge-engineered cars like the
Micra/Renault 5
will help bring new models to market by leveraging Renault. Nissan also aims to strengthen its partnership with Mitsubishi to accelerate the development of new products. It might even allow its Chinese partner, Dongfeng, to build cars at some of its underused factories.
Nissan Troubles:
Nissan's New Boss Candidly Admits What Went Wrong
Nissan Is Pausing Work on Some New Cars to Focus on Cost Cutting
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