TOKYO, March 28, 2024 (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 its subsidiary, SYLA Solar Co., Ltd. (“SYLA Solar”), has successfully raised 50 million yen in bank guaranteed private placement bonds provided by Aichi Bank, Ltd.
Purpose of Fundraising
Under the slogan “Solar Power for Everyone”, SYLA Solar is committed to driving innovation and the widespread adoption of renewable energy technologies. This fundraising initiative aims to fortify SYLA Solar’s business operations and facilitate further growth. Specifically, the funds will be allocated towards advancing investment in research and development efforts to promote the development of new technologies and products. This includes the expansion of its production facilities to streamline and reinforce the mass production system and improve its capacity to supply products to the markets. Additionally, SYLA Solar intends to improve customer satisfaction and expand its market share by broadening sales channels and enhancing customer service. Through these endeavors alongside the recent business alliance with LIVE THE CREATIVE, SYLA Solar is poised not only to strengthen its operational capabilities but also to make further contributions to the promotion of sustainable energy.
Overview of The Bank Guaranteed Private Placement Bonds Provided by Aichi Bank, Ltd.
Trustee/Underwriter: Aichi Bank, Ltd.
Name: Series 1 Unsecured Bonds
Issue amount: 50,000,000 yen
Issue date: March 25, 2024
Final maturity date: March 23, 2029
Use of funds: Business working capital
SYLA Solar Co., Ltd.
Head Office: Land Square Marunouchi 2F, 2-18-14 Marunouchi, Naka-ku, Nagoya, Aichi, Japan
Representative Director: Takeshi Fuchiwaki
Establishment: August 2013
Capital: 46,000,000 yen
Website: https://syla-solar.jp/
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.
Contact Information
Gateway Group, Inc.
John Yi and Steven Shinmachi
SYLA@gateway-grp.com
Tel +1 (949) 574-3860
SYLA Technologies Company Contact
Hajime Sugino
Head of SYLA USA
h_sugino@syla.jp
