Nipro Sells Land Under “Tokyo CPF (Hamura)” Regenerative Medicine Facility to Hulic for JPY 10 Billion
On June 20, 2025, Nipro Corporation (TSE Prime: 8086) sold the land underlying its “Tokyo CPF (Hamura)” research and manufacturing facility to Hulic Co., Ltd. for JPY 10 billion. The transaction involved the transfer of trust beneficiary rights for the land only, and Nipro will continue to operate the facility under a lease agreement. As a result, there will be no operational impact. The JPY 4.1 billion gain on sale, based on a book value of JPY 5.9 billion, is expected to be recorded in the first quarter of Nipro’s fiscal year ending March 2026.
The site is located in an industrial zone along Hamura Kaidō, approximately an 8-minute walk from Hamura Station on the JR Ōme Line. The 8,238 tsubo (approx. 272,300 sq. ft.) plot is a regular-shaped lot hosting several structures, including a three-story cleanroom building that produces regenerative medicine products such as STEMIRAC®, a treatment for spinal cord injuries. With convenient road access to the Chūō Expressway and Ken-Ō Expressway, the location has high potential as a logistics hub for raw materials and cold-chain distribution. Completed in June 2020, the facility boasts a Gross Floor Area of approximately 10,738 tsubo (approx. 355,000 sq. ft.) and is one of the largest of its kind in Japan. It includes GMP-compliant production suites capable of supporting stable annual production for up to 2,500 patients—factors that underpin the long-term value of the land.
Nipro is pursuing asset-light strategies to improve capital efficiency and financial strength, focusing on divesting non-core assets while increasing investment in its growth area of regenerative medicine.
Although Hulic has not disclosed its specific intentions for the acquisition, the company made a similar investment in June 2024 when it acquired the land trust beneficiary interest of Kioxia’s Yokkaichi plant and executed a long-term leaseback. Hulic characterized that deal as a “high-quality infrastructure-type asset with stable long-term income,” suggesting that the Tokyo CPF (Hamura) acquisition is part of a consistent CRE strategy to strengthen stock-based cash flow from industrial and life science facilities.
Key Facts
Property Name: Tokyo CPF (Hamura) Land
Buyer: Hulic Co., Ltd.
Seller: Nipro Corporation
Transaction Price: JPY 10 billion
Location: 2-1-1 Shinmeidai, Hamura City, Tokyo
Nearest Station: Approx. 8-minute walk from JR Ōme Line, Hamura Station
Site Area: Approx. 8,238 tsubo (approx. 272,300 sq. ft.)