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Dentsu sells historic Ginza Headquarter; books $200 Mn gain amid global portfolio review
The reported sale of the Tokyo landmark underscores asset optimisation push as the ad group weighs strategic options for its international business.
Dentsu Ginza Building, 1933 (in left). Dentsu’s original pentagram logo above the entrance, with two Buddhist deities either side (in right). This building replaced Dentsu’s older office building that was built in 1911 but destroyed by fires following the 1923 earthquake. (Image source: Instagram 'japanpropertycentral')
Dentsu has reportedly sold its former headquarters in Tokyo’s Ginza district, booking a gain of more than $200 million from the transaction, as the Japanese advertising major continues to streamline its assets and reassess its global business footprint.
The property, widely known as the Ginza Building, is an iconic part of Dentsu’s corporate history. Constructed in 1933, it served as the company’s headquarters until 1967, symbolising its post-war growth and rise as Japan’s dominant advertising group.
Dentsu later moved to larger facilities and, in 2002, relocated to a purpose-built skyscraper in Tokyo’s Shiodome district.
While the company did not disclose the sale price or the identity of the buyer, it reportedly confirmed that the deal is expected to be completed on January 30, 2026, and will result in a gain exceeding $200 million. Dentsu reportedly said the divestment forms part of its ongoing “asset optimization” strategy.
Speculation around a possible sale of Dentsu’s headquarters had surfaced as early as 2021, though the company had not issued any formal confirmation at the time.
The latest move comes against the backdrop of broader strategic deliberations at the group.
Earlier this year, Dentsu appointed Mitsubishi UFJ Morgan Stanley and Nomura Securities to explore potential options for its international creative and media businesses. Reports in August suggested the company was evaluating scenarios ranging from the sale of a minority stake to a full divestment of its overseas operations.
Dentsu significantly expanded its international presence in 2012 with the acquisition of Aegis Group, later rebranding the combined operations under the Dentsu name in 2020. Its international portfolio includes Merkle, the US-based digital marketing and data consultancy.
During a post-results analyst call in August, chief executive Hiroshi Igarashi did not rule out a sale when asked whether the company was open to selling or merging its international operations. He said Dentsu was focused on rebuilding its international business foundation, enhancing competitiveness and re-evaluating underperforming units, while stopping short of offering any concrete guidance on divestments.
The Ginza sale also lands as Dentsu navigates a mixed financial picture.
In its Q3 2025 results, the group reported a statutory net loss of ¥61.5 billion, even as underlying operating profit rose 14.1% year-on-year to ¥111 billion, helped by cost controls and tighter strategic focus.
For the first nine months of the year, Dentsu posted modest organic growth of 0.3%, driven almost entirely by Japan, which recorded 6.8% organic growth and marked its tenth consecutive quarter of expansion. International markets continued to lag, with APAC declining 10.1% over the same period.
Japan, which accounts for around 42% of group revenue, delivered a standout performance in Q3 with 9.9% organic growth. The gains were fuelled by strength in internet media, sports-related activity, new client wins and steady demand across business transformation (BX) and digital transformation (DX) services. Operating margins in the domestic market reached 24.6%, helping to cushion ongoing weakness overseas.
As Dentsu sharpens its focus on profitability and balance sheet efficiency, the sale of its historic Ginza headquarters signals a willingness to monetise legacy assets while it weighs more consequential decisions about the future shape of its global operations.
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