TOKYO -- Fuji Heavy Industries Inc., the parent company of Subaru, is selling its global headquarters building in downtown Tokyo to generate cash and move to a more modern office.
Fuji Heavy aims to raise 34 billion yen ($399.1 million) by selling the 44-year-old Shinjuku Subaru Building, the Japanese automaker said in a statement today. The 220,000-square-foot building is adjacent to Tokyo’s bustling Shinjuku rail station.
“As 44 years have passed since the construction of the Shinjuku Subaru Building, where the current head office is located, and the floor space is not enough for the working environment, this transfer will improve the operational efficiency of FHI’s headquarters,” the company said.
Fuji Heavy intends to complete the sale on April 28 but will continue to lease space there while it renovates another office building in central Tokyo’s Ebisu district. When that facility is finished, around 2014, Fuji Heavy will relocate its global headquarters there.