Osaki Electric (TYO:6644) said its consolidated subsidiary Osaki Estate will sell land and a building in Tokyo, generating about 6 billion yen in extraordinary income in the fourth quarter of the fiscal year ending March 31, according to a Thursday filing on the Tokyo Stock Exchange.

The asset, a rental property in Minami-Azabu, Minato Ward, with land area of about 1,571 square meters and total floor space of about 3,714 square meters, will be transferred to ES-CON JAPAN Ltd. The transfer price and book value were not disclosed due to confidentiality.

The sale follows a group policy adopted in August 2024 to dispose of selected real estate assets to improve capital efficiency and return on equity. Delivery of the property is scheduled for late March.

Osaki Electric said proceeds from the sale will be allocated to growth investments, as well as to stock repurchases and a special dividend.