SYLA Technologies and TSE Growth-Listed Broad Enterprise Form a Business Alliance to Boost Profits through Mutual Cooperation
TOKYO, July 22, 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 that it has entered into a business alliance with Broad Enterprise Co., Ltd. (TSE: 4415) ("Broad Enterprise") for sales cooperation, including service collaboration and mutual referral of prospective clients.
About the Business Alliance
SYLA Co., Ltd. ("SYLA Co.") and SYLA Solar Co., Ltd. ("SYLA Solar"), subsidiaries of SYLA, provide a range of services including real estate development, building/asset/property management services, solar power plant development, operation and maintenance, and retail electricity services.
Broad Enterprise aims to maximize cash flow for condominium owners by offering advanced services for rental housing complexes. Their offerings include B-CUBIC high-speed Internet, BRO-LOCK IoT intercom system, and BRO-ROOM in-home IoT renovation, which enhance the comfort and convenience of condominium residents.
Through this partnership, SYLA and Broad Enterprise will introduce each other's services to their respective customer bases. This alliance is expected to enhance the competitiveness of both companies and drive increased profits through mutual cooperation.
Business Alliance Details
Through this business alliance, SYLA will incorporate IoT services for condominiums, such as B-CUBIC and BRO-LOCK, into SYLA Co.'s asset management business. Broad Enterprise will collaborate with SYLA Solar's electricity retail business to develop new services that leverage the strengths of both companies.
The SYLA Technologies Group has an extensive customer base, including over 270,000 members of the real estate crowdfunding platform "Rimawari-kun," 400,000 members of the online rental brokerage service "ietty," property owners, and over 3,000 tenants. Broad Enterprise provides many condominium owners with IoT services such as B-CUBIC high-speed internet and has over 180,000 internet users nationwide.
Through this alliance, SYLA Technologies and Broad Enterprise will offer each other's services to their respective customers and strengthen sales collaboration. This partnership aims to enhance the competitiveness of both companies and increase profits through mutual cooperation.
Broad Enterprise Co., Ltd.
President and Representative Director: Ryosuke Nakanishi
Head Office: 9F Umeda East Building, 5-15 Taiyuji-cho, Kita-ku, Osaka City, Osaka
Established: December 15, 2000
Capital: 77,000,000 yen
Website: https://broad-e.co.jp/
Number of employees: 125 (April 2024)
Business activities: Sale of B-CUBIC high-speed Internet for condominiums, BRO-LOCK IoT intercom system, and BRO-ROOM in-home IoT renovation
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 Investor Relations Contact:
Gateway Group, Inc.
John Yi and Steven Shinmachi
[email protected]
(949) 574-3860
SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Chief Growth Officer
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26bd34d0-f723-4591-b628-67f3897b55ff
