Trading house Sumitomo Corp. said Tuesday it has sold its head office building in Tokyo for 86 billion yen in an effort to use assets more efficiently.
The building is part of Harumi Island Triton Square, a high-rise commercial complex in Chuo Ward. Sumitomo has been using the building as its head office since May 2001 and will continue to do so on lease.
Sumitomo said it sold the building to a special-purpose company partly funded by Mitsubishi Tokyo Financial Group Inc. and will use the revenues earned from the transactions for fresh investments.