Japanese advertising giant Dentsu Group Inc. said Tuesday that it expects to book a profit of about 89 billion yen ($805 million) from selling the building housing its headquarters in central Tokyo.

Dentsu will continue to rent space for its headquarters in the 48-story skyscraper after the sale to an undisclosed buyer. The deal will be the largest building transaction ever in Japan, according to sources familiar with the matter.

The company said the building's book value will be 179.0 billion yen as of June 30. The sources said the value of the transaction will likely be around 300 billion yen.

According to Dentsu, only 20 percent of employees that normally work out of its headquarters building are currently commuting to the office due to the coronavirus pandemic.

The sale is expected to allow Dentsu to book about a 59 billion yen profit in the current business year ending in December, the company said.

==Kyodo

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