HSBC has sold its Tokyo headquarters building to a unit of Mitsubishi HC Capital, according to Bloomberg.

The sale comes as Group Chief Executive Georges Elhedery accelerates a global restructuring of the bank focused on simplifying operations through asset disposals.

Registration records show the Nihonbashi district property changed hands in March. HSBC is leasing space in the building until it relocates to a new mixed-use development in Tokyo’s Yaesu district.

The bank plans to move into the new office, located opposite Tokyo Station, in 2029.

The location will place the London-based lender next to one of Japan’s busiest transport hubs, improving access for clients.

HSBC Japan CEO Takeo Kaneko said in a LinkedIn post that the new facility is designed at a true headquarters scale and will feature some of the largest floor spaces in Tokyo.

HSBC employs about 380 people in Japan.

Featured image credit: Edited by Fintech News Hong Kong, based on image by HSBC Japan