SYLA Technologies Announces Definitive Agreement for a Business Transfer from ietty Inc.
TOKYO, Nov. 06, 2023 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced it has entered into a definitive agreement for a cash transaction business transfer from ietty Inc. (“ietty”), a Japanese based real estate portal website management and rental brokerage business, effective November 1, 2023.
ietty is a dynamic and innovative real estate service provider powered by its proprietary AI and chatbot technologies to revolutionize the real estate brokerage sector. Beyond its traditional real estate services, the company offers corporate welfare solutions through its AI real estate brokerage services known as ietty BIZ. Furthermore, ietty provides expert consulting services through its innovative chat solutions to ensure clients receive effective and valuable real estate guidance.
Through this strategic business transfer and integration of ietty’s cutting-edge technology, SYLA aims to venture into the rental brokerage field to further enhance its slate of comprehensive one-stop real estate services. Alongside its existing in-house real estate development, design, construction, sales, and rental management services, the addition of an online rental brokerage function will provide incremental value to both SYLA’s tenants and property owners. Furthermore, this in-house brokerage venture is expected to boost the occupancy rates of the SYFORME series, SYLA’s original brand condominium, and elevate the SYLA brand, creating new, profit-earning opportunities within the leasing business.
Leveraging ietty’s AI-based online customer service expertise, SYLA anticipates seamless synergies with its real estate crowdfunding platform “Rimawari-kun,” while also harboring long-term aspirations to transition the business to a SaaS model and franchising of the service. This strategic business transfer underscores SYLA’s unwavering commitment to delivering innovative and comprehensive real estate solutions, positioning the company at the forefront of the ever-evolving real estate landscape.
“I am pleased to announce our strategic business transfer from ietty, a move that underscores our unwavering commitment to providing the most innovative and extensive real estate solutions to our valued customers,” said Chairman, Founder, and CEO Hiroyuki Sugimoto. “In addition to our longstanding in-house real estate development, design, construction, sales, and rental/building management services, this business transfer brings a new online real estate brokerage function that will provide added convenience and efficiency for both tenants and property owners. By seamlessly integrating ietty’s cutting-edge AI and chatbot technology into SYLA’s offerings and generating the synergies with our real estate crowdfunding platform “Rimawari-kun,” we are well-positioned to further elevate our comprehensive one-stop real estate service offerings. We also aim to continuously develop and solidify the SYLA brand as an innovative solution in the ever-changing real estate industry by seeking new opportunities in our real estate business, such as raising rental rates and occupancy levels of our original condominium brand, SYFORME series, and actively promoting real estate sales. We remain dedicated to empowering our valued customers, property owners, and tenants with the most innovative solutions while maximizing our shareholders value on our relentless pursuit of innovative excellence.”
About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, our company consists of SYLA Technologies Co., Ltd. and its consolidated subsidiaries (SYLA Co., Ltd., SYLA Solar Co., Ltd., SYLA Brain Co., Ltd., and SYLA Biotech Co., Ltd.). 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. Their mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. They are 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.
SYLA Technologies Investor Relations Contact :
Gateway Group, Inc.
John Yi and Steven Shinmachi
SYLA Technologies Company Contact :
Head of SYLA USA