OSAKA – Sharp Corp. is in talks to sell one of its two head office buildings in Osaka’s Abeno Ward to furniture retail chain operator Nitori Holdings Co., sources close to the matter said Wednesday.
The struggling electronics maker aims to conclude a contract with Nitori in September to sell the five-story, 13,000-sq.-meter building housing the company’s general affairs department, according to the sources.
It plans to sell the other building to the Nippon Telegraph and Telephone Corp. group’s NTT Urban Development Corp. for about ¥10 billion. The five-story, 11,000-sq.-meter building houses the company’s struggling liquid crystal display and solar battery businesses.
Sharp will continue to rent the buildings for the time being but is likely to move to other locations, sources said.
Sharp expects to post a group net loss of around ¥180 billion for the business year ending next March 31, remaining deep in the red for a second straight year.