As part of its previously announced plan to move its primary research and development center, Toyo Tire & Rubber Co. sold the facility to construction, real estate and engineering firm Haseko Corp.
The land and approximately 24,300-square-foot building were sold for 4,335 million yen, well more than the listed book value of 132 million yen.
Earlier this year, Toyo announced plans to shift its R&D center from its hometown city of Osaka to Kawanishi in Hyogo Prefecture. That move is expected to be completed by the end of 2013, Toyo said.