TOKYO, May 09, 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 been honored with the Excellent Business Award in the mid- to high-rise studio condominium category by the Japan Association of Home Suppliers for its brand condominium, SYFORME MOTOMACHI-CHUKAGAI (“the Property”), completed in December 2023.
Background of the Award for the Property as an Environmentally Friendly Initiative
The Japan Association of Home Suppliers sponsors the Excellent Business Awards to recognize outstanding projects by its members, aiming to promote the provision of high-quality housing and living environments while contributing to the sustainable growth of the housing and real estate industry and enhancing the standards of its members. SYLA Co.’s brand condominium, SYFORME MOTOMACHI-CHUKAGAI, was honored with the Excellent Business Award in the mid- to high-rise studio condominium sales category.
The Property holds ZEH-M Oriented certification, emphasizing environmental protection and disaster preparedness. Through enhancements in insulation performance and the installation of energy-saving equipment, the Property has achieved a 34% reduction in primary energy consumption. Furthermore, solar power generation and storage battery facilities have been installed to contribute to environmental conservation, address the challenge of escalating electricity prices, and secure a reliable emergency power supply in times of disaster.
While progress toward carbon neutrality via ZEH certification and solar power integration is underway, introducing such features in mid- and high-rise studio condominium projects has been challenging. The main challenges include limited rooftop space for installation, installation complexities, and high installation and management costs. To overcome these obstacles, SYLA Co. has strategically combined energy conservation, generation, and storage technologies to create value-added, environmentally friendly products that also enhance disaster resilience.
About the award-received property
Property name: SYFORME MOTOMACHI-CHUKAGAI
Address: 2-11-40 Shinyamashita, Naka-ku, Yokohama City, Kanagawa
Builder: SYLA Co., Ltd.
Seller: SYLA Co., Ltd.
Construction: Fuetsu Construction Co., Ltd.
Planning and supervision: AsakuraTakaoToshikenchikusekkei Co., Ltd.
Design supervision: Base Co., Ltd.
Completion date: December 22, 2023
Site area: 1,171.89m2
Total floor area: 3,354.90m2
Unit area: 24.13m2 – 25.74m2
Structure: Reinforced concrete, 6 floors above the ground
Number of residential units: 95
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.
