BANKING: Resona to sell headquarters building

Resona Holdings Inc. said Tuesday it will sell its head office building in central Tokyo and move headquarters functions to the capital's Koto Ward in about two years.

Like its larger rivals, Resona Holdings, which has yet to repay taxpayers' money injected in past banking crises, operates its head office in the Otemachi business district.

Chairman Eiji Hosoya said the move will allow the financial group to better respond to the needs of regional customers.

The head office building, which was built in 1978, will be sold to Mitsubishi Estate Co. for about 162 billion yen at the end of April. Resona Holdings will continue to lease the building in the meantime.(IHT/Asahi: March 26,2008)