In a densely populated country where prime land is precious, changes in the real estate market serve as a handy barometer of economic trends.
A weekly feature titled “Deep Layer Corporate and Economic Report" in Shukan Jitsuwa (Feb. 25) turned its attention to the selloff of company headquarters in Tokyo. Earlier this month, news began circulating that Dentsu Group Inc., Japan's largest advertising agency, was planning to put its corporate headquarters building on the market. The price tag of the 19-year-old, 48-story building — located in a complex of high-rise buildings in Shiodome, Minato Ward — was said to be in the neighborhood of ¥300 billion.
According to an advertising industry insider, as company staff engaged in working remotely continue to grow, the number of people who report to work at the Dentsu building is said to be only 20% of the company's 9,000 employees.