Takeda to Sell Osaka Headquarters Building for Shire Deal

Economy

Tokyo, Jan. 29 (Jiji Press)--Takeda Pharmaceutical Co. <4502> has said it will sell a set of 21 assets, including a building that houses its Osaka headquarters, in late March, in efforts to reduce its swollen debt due to the 6.2-trillion-yen acquisition of Irish drug maker Shire PLC.

The Japanese company will book about 38 billion yen as proceeds from the asset sale for the year through March.

In its announcement on Monday, Takeda declined to reveal the buyer or the value of the deal.

The assets to be sold are properties that Takeda currently owns in major cities across Japan, with many of them located around the headquarters building in Osaka, the western city where the company started business.

For the sale, Takeda will first hand over the ownership of the 21 assets to a newly launched subsidiary and then sell off the unit to the buyer, a private company.

[Copyright The Jiji Press, Ltd.]

Jiji Press