Tose Co., a Kyoto-based company, announced today plans to sell a portion of its land holdings as part of a reconstruction project for its aging headquarters facilities. The company will divest 1,333.20 square meters of land with a book value of 482 million yen (US$3.2 million) following the demolition of two deteriorating buildings.
The game development company revealed it will tear down both the Nagaokakyo Tose Building and the adjacent Nagaoka Terminal Building to construct a single new facility. The demolished buildings have a combined book value of 159 million yen (US$1.06 million), according to the company’s statement.
While the sale price of the land remains undetermined, Tose specified that only portions of the property not needed for the new building construction will be sold off. The company plans to temporarily relocate employees from the Nagaokakyo Tose Building to alternative work locations beginning around August 2025.
Tose indicated that details about the new building design and specifications will be announced once finalized. The company is currently assessing the financial implications of the project, which is expected to generate both extraordinary gains and losses in its accounts.
The publicly traded game developer, listed under ticker 4728 on the Tokyo Stock Exchange, said it will provide additional updates on the financial impact once its internal review is complete.
