SYLA Announces Sale of One Building of Its SYFORME Brand Condominium, “SYFORME SUMIYOSHI II”

TOKYO, May 02, 2024 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowdfunding platform in Japan, Rimawari-kun, announced that its wholly owned subsidiary, SYLA Co., Ltd., (Representative Director: Yoshiyuki Yuto) (“SYLA Co.”) has completed and sold SYFORME SUMIYOSHI II at the end of March.

Overview of the Property
Location: Ojima, Koto-ku, Tokyo
Property Type: Condominium
Structure: Reinforced concrete (13 floors above ground, 46 units)
Settlement Date: April 26, 2024

About the SYFORME Series
SYLA Co. is dedicated to developing profitable real estate, with a particular focus on Tokyo’s 23 wards and the central districts of Yokohama and Kawasaki. Among these areas, SYLA Co. develops its signature condominium brand, the SYFORME series, strategically situated within a 10-minute walking distance from stations, offering convenience for commuters seeking both style and accessibility.

Impact on Business Performance
The impact of this transaction has already been incorporated in the business forecast for FY2024/12, as announced on January 25, 2024. The Company will promptly disclose any matters that should be announced in the future.

About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”) owns and operates the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, as well as high net worth individuals. SYLA’s mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. SYLA is engaged in the overall investment condominium business, including planning, development, construction, sales, rental management, building management, repair work, and the sale of properties. Additional information about the Company’s products and services is available at https://syla-tech.jp/en.

Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F, filed with the SEC on April 18, 2023. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

Contact Information

SYLA Technologies Investor Relations Contact:
Gateway Group, Inc.
John Yi and Steven Shinmachi
SYLA@gateway-grp.com
(949) 574-3860

SYLA Technologies Company Contact:
Takeshi Fuchiwaki
Director, Chief Growth Officer
irpr@syla.jp