Nissan Motor reportedly will spend $US415 million to build a headquarters in Yokohama, a port city south of Tokyo, by 2010.

Nissan, which posted record operating profits last year, declined to disclose how much it would save by moving to Yokohama, 30 minutes from Tokyo by train, but said the municipal government had pledged tax breaks, according to Reuters.

“Moving our global and domestic operations … will allow us to work more efficiently and cross-functionally,” Nissan CEO Carlos Ghosn said in a statement cited by the news agency.

Reuters said the automaker plans to transfer at least 2,000 of the 3,000 employees in Ginza, Tokyo, the current headquarters, to the new building, which will be completed in 2010.

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