Nissan Motor is selling its Shinkoyasu property in Yokohama to three private companies for JPY38,213m ($316.3m). Book value is JPY969m ($8m).

The 43,058m2 site, currently home to Nissan offices, recreation and medical facilities, is being sold to Mitsubishi Estate, Towa Real Estate Development and Chuo Shoji.

The deal will be finalised officially tomorrow, 25 July, and the property will be transferred gradually until the end of December 2008.

Nissan said the sale was not recorded in the first quarter fiscal 2007 financial results announced today but would impact full year results, and had been included in its forecast.