Nintendo has made a couple of acquisitions over the years and it looks like some new land is the Big N’s latest purchase for 2022. The company has managed to secure a site next to its headquarters in Kyoto, Japan following a successful bid.
On April 12, 2022, Nintendo announced via a press release that it had acquired city-owned land adjacent to its current headquarters in Kyoto. According to the release, the bidding price was 5,000,000,000 Yen, which is roughly $39,855,000 USD according to Google’s currency converter. The site area measures in at 10,028.55 m² and will be the site on which a 12 floor building is constructed.
The press release notes that the former building at the location was the Foundation Support Factory and the Material and Disaster Prevention Center. Nintendo plans to utilize the space for an R&D reinforcement building with a tentative name being the Corporate Headquarters Development Center, Building No. 2.
While few details are given about the building, construction is expected to be completed in December 2027, so a little over five years from today.
It’s certainly an interesting time in the world and it’s encouraging to see a company like Nintendo make moves to scale up as opposed to cut down. Recently, the Nintendo Switch surpassed Wii in lifetime console sales and the Big N increased sales and earnings guidance for FY 2022.
We’ll be sure to keep you updated on Nintendo’s plans with the land as well as other critical information related to NTDOY. What do you think of this land acquisition? Let us know your thoughts in the Chatty thread below. (Featured image credit: Nintendo Life.)
Sam Chandler posted a new article, Nintendo to acquire land next to HQ in Kyoto, plans new R&D building
Great news. I’m glad they’re doing this instead of share buybacks.