Asian Tech Press (Apr. 13) -- Japanese video game company Nintendo Co Ltd plans to build a new development center on a $39.8 billion piece of land adjacent to its headquarters in Japan.

The Kyoto-city owned land had been used as a foundation support factory and a material and disaster prevention center, Nintendo said in a statement on Tuesday.

Nintendo bought the roughly 10,000-square-meter plot of land for 5 billion yen ($39.8 billion), which will be the site of its new building, tentatively named the "Corporate Headquarters Development Center, Building No. 2".

The new development center will be a 12-floor building, expected to be completed by the end of 2027, which Nintendo believes "will carry an important role on reinforcing its R&D."

It appears that Nintendo's new land purchase, directly across the street from its headquarters in Japan, will connect the two existing buildings and expand the company's headquarters.

(US$1 = 125.581 yen)