SYLA Technologies Co., Ltd. American Depositary Shares (SYT)
Filed: 3 Feb 25, 9:00am
Exhibit 99.1
SYLA Technologies Announces Revised FY2024 Financial Guidance
Further Upward Revision of Income from Continuing Operations and Year-End Dividend
TOKYO, February 3, 2025 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, today announced a revision to its full-year financial guidance for the fiscal year ended December 31, 2024, which was disclosed on November 20, 2024.
| (1) | Updated Financial Guidance for Full Year 2024 |
| (Unit: Million yen) |
| Revenues | Income from Operations | |||
| Previous Guidance (A) | 29,000 | 1,800 | ||
| Updated Guidance (B) | 30,000 | 2,200 | ||
| Change (B-A) | 1,000 | 400 | ||
| Change (%) | 103.4% | 122.2% | ||
(Reference) FY2023 Results | 22,743 | 1,441 |
Reasons for Revision
Since the announcement titled “SYLA Technologies Announces Upward Revision of 2024 Full Year Financial Guidance” on November 20, 2024, progress has been made in the sale of multiple newly completed projects in the Company’s real estate development business, as well as in land sales, leading to an expected upward revision of income from operations. In the previous guidance, the impact of rising construction costs and interest rate increases was cautiously factored in. However, as actual conditions remained more stable than anticipated, revenues are now expected to reach ¥30 billion, up 3.4% from the previous guidance, while income from operations is projected to be ¥2.2 billion, up 22.2% from the previous guidance, surpassing the previously announced guidance.
| (2) | Updated Year-end Dividend Forecast for FY2024 (Dividend per Share / 1 Share = 100 ADSs / 1ADS = 6.5 yen) |
| (Unit: Yen) |
| Interim Dividend | Year-end Dividend | Total Annual Dividend | ||||
| Previous Guidance (A) Announced on November 20, 2024 | 100.00 | 450.00 | 550.00 | |||
| Updated Guidance (B) | 100.00 | 550.00 | 650.00 | |||
| Change (B-A) | +0.00 | ＋100.00 | ＋100.00 | |||
| (Reference) FY2023 Dividend | 70.00 | 180.00 | 250.00 |
Reasons for the Revision
The Company considers returning profits to shareholders as an important management priority and follows a basic policy of paying appropriate dividends aligned with business performance. In line with this policy, the Company targets a dividend payout ratio of 30%. In the press release titled “SYLA Technologies Announces Interim Dividend of ¥100 per Share” on August 20, 2024, the Company announced an increase in its interim dividend. Furthermore, on November 20, 2024, the company made the announcement titled “SYLA Technologies Announces Upward Revision of 2024 Full Year Financial Guidance.”
In line with this earnings guidance revision, the year-end dividend is now planned to increase from the initially projected ¥180 per share to ¥550 per share, an increase of ¥370. As a result, the total annual dividend, including the ¥100 interim dividend, is expected to be ¥650 per share.
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 May 15, 2024. 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.
Contact Information
SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Chief Growth Officer
irpr@syla.jp