After announcing cuts in its workforce and production facilities earlier this month, Nissan Motor is reportedly considering selling its headquarters in Yokohama, where it has been located since 2009.
Local media outlet Nikkei reported on Monday that the headquarters building was included on a list of assets to be sold by the end of March 2026.
The location is estimated to value over 100 billion yen, equivalent to nearly $700 million. The complex includes a showcase of Nissan vehicles and is located near Yokohama Station — a major transportation hub in Kanagawa Prefecture.
On May 12, local radio NHK reported that Nissan Motor planned to cut over 11,000 additional jobs worldwide.
The company indirectly confirmed the report a day later, as it announced it was laying off 20,000 employees (about 15% of the company’s workforce) and cutting seven of its 17 factories across the globe.
Nissan reported a net loss of 670 billion yen ($4.5 billion) for the fiscal year ended March — one of its biggest losses to date.
Although results were better than expected (as the company projected a loss of 750—800 billion yen, equivalent to $5.2—5.6 billion), operating profit still plunged by 87.7% year over year.
Nissan announced earlier this month that its plans for a $1.1 billion EV factory in Japan were halted.
Meanwhile, merger discussions between Nissan and Honda stalled in February, reportedly due to Honda’s proposal to make the automaker a subsidiary.
Despite the setback, Nissan chief operating officer (COO) Ashwani Gupta expressed openness to future partnerships, noting that conversations with Honda are still underway.
Ivan Espinosa, appointed CEO in March and the fourth chief executive in charge of Nissan in the past eight years, is implementing a restructuring strategy for the automaker.
The company may face an extra 60 billion yen ($420 million) in restructuring costs in the current fiscal year, which Espinosa said will be covered “through asset sales.”
Nissan is looking for “additional opportunities to reduce fixed costs,” as the company’s “fixed cost structure is something that we cannot absorb with the current revenue,” according to the chief executive.
The Japanese automaker aims for a 500 billion yen ($3.5 billion) reduction by the year ending in March 2027. According to Espinosa, the period from April 2025 to March 2026 will be “a year of transition” for the company.
Nissan‘s Tokyo-listed shares fell slightly on Monday to 353 yen. The stock is down nearly 37% over the last twelve months.
