Nintendo has acquired the land adjacent to its headquarters in Kyoto, Japan, with a view to expanding its R&D facilities.

The company paid 5 billion yen ($40 million) to purchase the land, which previously housed a support factory and material and disaster prevention center.

Nintendo has outlined plans to build what it calls "Corporate Headquarters Development Center, Building No. 2" on the land, and said the objective of the new facility will be "R&D reinforcement."

The expansion will comprise a 12 floor steel framed building that's approximately 72 meters tall, offering a floor area of 38,000 square meters.

Nintendo believes its new development center (pictured below) will be completed by December 2027.

This article has been updated to correct the land's purchase price to 5 billion yen.