On December 22, NX Holdings announced that it has decided to transfer the land and buildings of a logistics center in Koto Ward, Tokyo, owned by its consolidated subsidiary Nippon Express, to ML Estate (Tokyo), a real estate business operator, effective December 25.
The logistics center has a site area of 59,504 m2 and a total floor area of 151,345 m2. The transfer price is approximately 100 billion yen, and the profit from the sale is approximately 72 billion yen.
Operations at the center will continue under a separate lease agreement. Following the transfer, a leaseback transaction will be conducted that limits the rent burden to only the remaining contract period with the company's current customers, thus minimizing the impact on future performance.
