Your search results

Dentsu Group to sell Dentsu Headquarters Building for over JPY268 billion

Posted by Hana.A on June 30, 2021
0

Dentsu Group Inc. (TSR company code: 291096654, Tokyo, First Section of the Tokyo Stock Exchange) announced on June 29 that it plans to sell the Dentsu Headquarters Building for at least JPY268 billion. It is expected that a leaseback agreement for 11 years will be concluded and the difference of about 89 billion yen in book value of about 179 billion yen will be recorded as a gain on transfer in the consolidated financial statements for the fiscal year ending December 2021. The head office will continue to be used after the sale.

According to the Dentsu Group, it has promoted improvements in capital efficiency and strengthening of its financial position, and has sold its shares and transferred “Dentsu Hasseien” and “Dentsu Kamakura Research Institute”. The Dentsu Headquarters Building received a statement of intent to purchase from a prospective purchaser and began considering the sale.

If the sale is carried out, it is expected that a gain on transfer of approximately JPY89 billion will be recorded in the consolidated financial statements for the fiscal year ending December 2021. In addition, the sale is expected to increase operating income by approximately JPY87 billion and net income by approximately JPY59 billion for the fiscal year ending December 2021.

Dentsu Group to sell Dentsu Headquarters Building for over JPY268 billion -in Japanese

Compare Listings

Open chat