SYLA Solar to Acquire Renewable Data Center Company

TOKYO, July 1, 2024 (GLOBE NEWSWIRE) — SYLA Solar Co., Ltd. (Headquarters: Nagoya, Aichi; CEO: Takeshi Fuchiwaki; hereinafter referred to as “SYLA Solar”), a wholly owned subsidiary of SYLA Technologies Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; CEO: Hiroyuki Sugimoto; NASDAQ “SYT”), operator of Japan’s largest real estate crowdfunding platform, Rimawari-kun, absorbed and merged with SYLA Biotech Corporation (headquarters: Shibuya-ku, Tokyo; CEO: Makoto Ariki), effective July 1^street2024.

On absorption style fusion
SYLA Technologies is focused on expanding its renewable energy business as part of a growth strategy that aims to achieve medium-term sales targets by the end of fiscal year 2026.

Thanks to significant financial support from the Ministry of Economy, Trade and Industry, the main goal of the company’s activity is the development of solar energy sources. The goal is to further develop the business and increase the value of the company.

SYLA Solar is engaged in the development of solar power generation, EPC (Engineering, Procurement, and Construction) services and electricity retail, thereby supporting the group’s overall renewable energy business. SYLA Biotech sells and operates 100% renewable energy data centers, helping to reduce environmental impact.

With this absorption merger on July 1^street 2024, with SYLA Solar being the acquiring company and SYLA Biotech being the acquired company. As both companies are 100% subsidiaries of SYLA Technologies, this merger is being implemented as a non-cash transaction without the issuance of new shares.

The company survived
SYLA Solar Co., Ltd.
Headquarters: Land Square Marunouchi 2F, 2-18-14 Marunouchi, Naka-ku, Nagoya, Aichi, JP
Representing Director: Takeshi Fuchiwaki
Created: August 2013
Capital: 46,000,000 yen

Extinct company
SYLA Biotech Co., Ltd.
Headquarters: Ebisu Prime Square Tower 7F, 1-1-39 Hiroo, Shibuya-ku, Tokyo, JP
Representative Director: Makoto Ariki
Established: April 2022
Capital: 5,000,000 yen

Contact for lease enquiries
Management Company: SYLA Co., Ltd.
Tel: +81-3-4560-0653 (direct line 3)
E-mail: [email protected]

SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Development Director
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91da7edc-0de7-455b-8f8b-7969f9df7d15