July 24, 2007
NISSAN REACHES SALE AGREEMENT OF SHINKOYASU PROPERTY
TOKYO (July 24, 2007) - Nissan Motor Co, Ltd. announced today that it has reached an agreement to sell the Shinkoyasu property to three private companies.
Details of the agreement are as follows:
- 1) Shinkoyasu property:
- Nissan's Shinkoyasu property 43,058m2 (Shinkoyasu, 1-chome, Kanagawa-ku, Yokohama-shi)
- The site currently houses Nissan offices, recreation and medical facilities.
- 2) Purchases
- MITSUBISHI ESTATE CO., LTD. (Ootemachi, Chiyoda-ku, Tokyo, President Keiji Kimura)
- TOWA REAL ESTATE DEVELOPMENT CO., LTD. (Yaesu, Chuo-ku, Tokyo, President Shigeatsu Sugiura)
- CHUO SHOJI LTD. (Uchikanda, Chiyoda-ku, Tokyo, President Hakaru Shigechi)
- 3) Shinkoyasu property book value:
- 969 million yen (US$ 8million)
- 4) Sale price:
- 38,213 million yen (US$ 316.3million)
- 5) Transfer of property:
- The deal will be officially finalized on 25th of July, and the property will be transferred gradually until the end of December 2008.
This transaction is not recorded within the first quarter 2007 financial results as announced. However, the result of this property transaction will impact the fiscal year 2007 financials, which is included in the forecast for the full fiscal year.
Note: Amounts in dollars and euros are translated for the convenience of the reader at the latest foreign exchange rates of 120.8 yen/dollar.