SYLA Technologies Co., Ltd.

General Information
Business:

(Note: SYLA Technologies Co., Ltd., incorporated in Japan, filed its F-1 on Nov. 16, 2022, with no terms disclosed for its U.S. IPO of American Depositary Shares (ADS). The exchange – either the NASDAQ or the NYSE-American – is still to be determined. The ADS will be offered and sold only in the U.S., according to the prospectus. SYLA Technologies Co., Ltd. submitted confidential IPO documents to the SEC on Sept. 23, 2022.)

SYLA Technologies Co. Ltd., based in Tokyo, is a real estate developer that launched a real estate crowdfunding business (a FinTech venture) in June 2021. In early 2022, the company expanded into solar power – specifically the construction, sale and operation of solar power plants – and crypto – specifically the manufacture and sale of computers with crypto mining capabilities. SYLA Technologies’ four subsidiaries are SYLA Co., Ltd. (100% owned), SYLA Solar Co., Ltd. (formerly known as Nihon Taiyoko Hatsuden Co., Ltd.) (100% owned), SYLA Brain Co., Ltd. (formerly known as DEVEL Co., Ltd.) (67% owned), and SYLA Biotech Co., Ltd. (formerly known as RE100.com Co., Ltd.) (60% owned)  

From the prospectus:

Our primary mission is to “Support and enrich people’s lives in the era of 100-year life expectancy by democratizing global real estate investment using technology and smart asset management.”

We are engaged in three primary businesses:

  • We operate the asset management platform system “Rimawari-kun,” which targets individuals. We operate this platform to facilitate real estate crowdfunding as well as the purchase and sale of real estate, the sale of solar power plants which we construct, and the sale of computers (with crypto mining capabilities) (referred to herein as “computers” or “mining machines” that we manufacture;
  • We operate the asset management platform “Rimawari-kun Pro,” which targets corporate investors, institutional investors, and high-net-worth individuals. We exhibit properties on this platform developed independently by us as well as a wide range of properties from other companies in the same industry and help broker those properties to investors; and
  • We are involved in asset management, including the leasing, brokerage, and management of real estate, and operation and maintenance of solar power plant, and the maintenance and management of computers that we sell. More specifically, we are involved in the management of rental properties, building management, and operation and maintenance of solar power generation equipment, computer maintenance and management, and asset management for rental income and electricity sales generated by solar power plants owned by our Company.

**Note: Revenue and net income figures in the chart are in U.S. dollars  for the 12 months that ended June 30, 2022.

**Note: For the years ended Dec. 31, 2021 and 2020, the Company reported revenues of ¥16,665,382 thousand (US$122,820 thousand) and ¥13,140,176 thousand (US$96,840 thousand), respectively, net income of ¥278,688 thousand (US$2,054 thousand) and ¥435,727 thousand (US$3,212 thousand), respectively, and net cash provided by operating activities to be ¥25,098 thousand (US$185 thousand) and ¥269,042 thousand (US$1,983 thousand), respectively. As stated in the consolidated financial statements, as of December 31, 2021, the Company had retained earnings of ¥2,383,940 thousand (US$17,569 thousand).

**Note: During the years ended Dec. 31, 2021 and 2020, the Company generated revenues from sales of real estate, sales of land, rental services, and real estate management services. The Company started real estate crowdfunding business in June 2021 and generated minimal revenues from real estate crowdfunding for the year ended December 31, 2021. The Company did not generate any revenue from sales of computers, computer operation and management services, sales of solar power plants, solar power plants operation and maintenance services and sales of electricity for the years ended December 31, 2021 and 2020.

**Note: For the six months ended June 30, 2022 and 2021, the Company reported revenues of ¥8,869,667 thousand (US$65,367 thousand) and ¥6,500,616 thousand (US$47,908 thousand), respectively, net income of ¥149,561 thousand (US$1,102 thousand) and ¥6,444 thousand (US$48 thousand), respectively, and net cash used in operating activities to be ¥2,553,385 thousand (US$18,818 thousand) and net cash provided by operating activities to be ¥444,983 thousand (US$3,279 thousand), respectively. As stated in the unaudited consolidated financial statements, as of June 30, 2022, the Company had retained earnings of ¥2,473,289 thousand (US$18,227 thousand). During the six months ended June 30, 2022 and 2021, the Company generated revenues from sales of real estate, sales of land, rental services, real estate management services, sales of computers, computer operation and management services, sales of solar power plants, solar power plants operation and maintenance services and sales of electricity. The Company started (its) real estate crowdfunding business in June 2021 and did not generate any revenue from real estate crowdfunding for the six months ended June 30, 2021. The Company did not generate any revenue from sales of computers, computer operation and management services, sales of solar power plants, solar power plants operation and maintenance services and sales of electricity for the six months ended June 30, 2021, as the Company started these businesses in early 2022.

     

 

Industry: Real Estate
Employees: 108
Founded: 2009
Contact Information
Address Ebisu Prime Square Tower 7F, 1-1-39 Hiroo, Shibuya-ku, Tokyo, Japan
Phone Number +81 3-4560-0650
Web Address https://syla-tech.jp/
View Prospectus: SYLA Technologies Co., Ltd.
Financial Information
Market Cap
Revenues $140.28 mil (last 12 months)
Net Income $3.11 mil (last 12 months)
IPO Profile
Symbol SYT
Exchange TBA
Shares (millions): 0.0
Price range $0.00 - $0.00
Est. $ Volume $17.0 mil
Manager / Joint Managers Boustead Securities
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change