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Property

Ad agency Dentsu weighs sale of Tokyo HQ in $3bn megadeal

Coronavirus accelerates shift to teleworking and streamlining office space

Dentsu's headquarters in Tokyo's Minato Ward: The majority of workers there no longer come into the office amid the coronavirus outbreak. (Photo by Shinya Sawai)

TOKYO -- Advertising agency Dentsu Group will consider selling its headquarters in central Tokyo in a deal possibly worth around 300 billion yen ($2.9 billion), which would mark one of the largest property sales ever in Japan.

The group joins a string of Japanese companies that are reevaluating what to do with their Tokyo headquarters, as the coronavirus outbreak forces them to embrace a new approach to the workplace. Dentsu in particular is looking to shift to a more decentralized corporate structure that relies heavily on teleworking.

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