Sanden to Sell Sanden Forest/Akagi Plant Real Estate Property for 8 Billion Yen

MT Newswires Live

Aug 17

Sanden (TYO:6444) signed an agreement to sell its Sanden Forest/Akagi Plant real estate for 8 billion yen, according to a Monday filing with the Tokyo Stock Exchange.

The property has a book value of 4.4 billion yen. Sanden will continue to use the site under a sale-and-leaseback arrangement, with no impact expected on operations, manufacturing, or environmental initiatives post-sale, the filing said.

Proceeds from the real estate sale are expected to be used to lower interest-bearing debt, investments to enhance business competitiveness, working capital, and other purposes, it said.

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