TOKYO (Thomson Financial) - Japanese banking group Resona Holdings Inc has decided to sell its headquarters building in Tokyo's Otemachi district to Mitsubishi Estate Co, Japan's second-largest property developer, for just over 150 billion yen, the Nikkei reported on Monday, without citing sources.
The banking group will remain in the building for the time being, with plans to move to Tokyo's Koto Ward in two to three years, the business daily said.
Resona plans to use the proceeds to bolster its operations targeting mid- to small-size firms as well as to repay a portion of the public funds it borrowed from the government, it said.
The group has a 73 percent stake in the Resona-Maruha building, located in central Tokyo.
(1 US dollar = 99.56 yen)
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