SYLA Technologies Agrees to Acquire Shares from Four Shareholders of RIBERESUTE to Become its Largest Shareholder, and Initiates Negotiations for a Business Alliance Aimed at Expanding Real Estate Development
SYLA Technologies Co., Ltd. (Head office: Shibuya-ku, Tokyo; CEO: Hiroyuki Sugimoto; NASDAQ: SYT) (“SYLA” or “the Company”) announces that it has initiated negotiations to enter into a business alliance with RIBERESUTE CORPORATION (“RIBERESUTE”), a developer and seller of family-type condominiums. In addition, SYLA has also entered into an agreement to acquire shares from four of RIBERESUTE’s shareholders, including its largest shareholder.
Purpose of Aiming for a Business Alliance
RIBERESUTE operates in the development and sales of family condominiums primarily concentrated in the southern Kanto region, positioning itself as a manufacturing company leveraging its low-cost business model.
In contrast, SYLA has a different area of specialty and expertise. SYLA aims to establish a cooperative relationship with RIBERESUTE to make significant contributions to solving social issues and elevate their corporate value through complementing each other’s business models and adding new value to the real estate market.
Expected Business Alliance Details
1. Complementary products
RIBERESUTE specializes in family-type condominiums, while SYLA specializes in investment condominiums. SYLA believes that the two companies, leveraging their expertise, will consider the development of new products, such as mixed-type residences, and joint projects for large-scale properties to address a diverse range of market needs.
2. Complementary geographic coverage
RIBERESUTE has a network in the southern Kanto region, while SYLA has a network in the Tokyo metropolitan area. SYLA hopes to leverage the two companies’ respective strengths in moving forward with real estate development. In addition, SYLA expects that, through joint planning and development projects, the companies will also consider expanding their business in areas beyond the Tokyo metropolitan area and the southern Kanto region.
3. Expansion of real estate crowdfunding business
SYLA expects that the exchange of information and expertise between both companies will diversify and expand SYLA’s real estate crowdfunding projects. The combined expertise and experience of both parties will enable the creation of new investment opportunities and allow both companies to accommodate investors’ needs more flexibly. SYLA believes that this collaborative effort will drive business growth and strengthen the companies’ positions in the market.
SYLA aims to create a robust resource and network in collaboration with RIBERESUTE to promote the supply of condominium units and collaborate in addressing societal issues.
RIBERESUTE is a general real estate company engaged in the development, construction, and sale of family-type condominiums, primarily in the southern Kanto region. With a mission of "making life easier for everyone," RIBERESUTE aims to provide its customers with a truly comfortable lifestyle. RIBERSUTE strives to understand the life cycle of buildings and improve their quality and environment in order to achieve customer satisfaction and meet their requirements. In addition, RIBERESUTE takes a positive attitude toward environmental preservation and contributes to society by incorporating environmentally friendly planning and design. RIBERESUTE’s sales for the fiscal year ended May 2023 were 7,444,240 thousand yen, and the operating income was 1,083,214 thousand yen.
Company Profile of RIBERESUTE CORPOTRATION
Head Office: 389-1, Kimmei-cho, Soka City, Saitama
Representative Director and CEO: Shinichi Sakamoto
Establishment: June 1979
Capital: 2,000,792,272 yen
Business: Real estate and general construction business
SYLA Technologies Co., Ltd. Company Contact
Chief Strategy Officer (CSO) and Director