Tepco sells head office bldg for 25 billion Yen

On September 27, Tepco announced that they had sold the Toshin Building in Shinbashi, Minato-ku, for 25 billion Yen (320 million USD).

The sale contract was signed on the 27th with a closing date scheduled for March 2013. The buyer has not been disclosed.

The building was previously used as Tepco’s head office, but many of the head office departments have since been moved to a building nearby. Under the terms of sale, Tepco will continue to use the building until September 2013.

The 9-storey building with 4 basement levels was built in 1983. It has a total floor area of 27,687 sqm and is on a 3,701 sqm block of land with 3 street frontages in .

Under Tepco’s restructuring plan, they plan to sell off 247.2 billion Yen (3.17 billion USD) of their real estate assets between 2011 and 2013.

Tepco also sold 50.9% of their shares in At Tokyo Corporation – a company that operates data centers – to Secom for 33.3 billion Yen (427 million USD). They still retain 33.3% of shares.

Nikkei Shimbun, September 27, 2012.
Zaikei Shimbun, September 27, 2012.