CORRECTION: SYLA Announces 2023 Financial Guidance, Plan to Double Dividend Per Share
03 Luglio 2023 - 10:30PM
SYLA Technologies Co., Ltd. (“SYLA” or “the
Company”), operator of the largest membership real estate
crowd-funding platform in Japan, Rimawari-kun, today announced
financial guidance for the full-year 2023, and a plan to double the
dividend per share (1 share = 100 ADRs) from ¥70 ($0.52) per share
to ¥140 ($1.04) per share for the year ending December 31, 2023,
compared to 2022.
Guidance for Full Year 2023
- Revenue is expected to be between
¥24,700 - ¥26,700 million ($183.7 – $198.6 million).
- Income from continuing operations
(excluding income from the mining business) is expected to be ¥850
- ¥980 million ($6.3 – $7.3 million).
- Earnings per share (EPS) is
expected to be in the range of ¥1,359(*) to ¥1,637 ($10.11 –
$12.18).
*Net income from continuing operations
per share (excluded the income from the mining
business)
We expect to have an operating loss for the
first half of the fiscal year ending December 31, 2023, primarily
due to the completion of large-scale properties and fundraising,
which are expected to be concentrated in the second half of the
year. However, as indicated above, for the full year 2023,
operating income is expected to be in the range of ¥850 million to
¥980 million ($6.3 – $7.3 million).
(Unit: Million JPY)
(Unit: Million JPY)
(Unit: JPY)
Dividend Target for FY2023 and After
- Based on management’s current expectations for the Company’s
2023 full year results of operations, the Company expects to double
the dividend per share (1 share = 100 ADRs) to be declared from ¥70
($0.52) per share to ¥140 ($1.04) per share for the year ending
December 31, 2023, compared to 2022.
- The Company expects to continue to increase dividends every
year with a mid to long-term target of a dividend payout of 30% of
net income.
(Unit: JPY)
“Following the successful close of our IPO and
Nasdaq listing, we’re happy to provide the market guidance on our
operations for the full year 2023, and announce the planned
doubling of our dividend,” said Chairman, Founder, and CEO Hiroyuki
Sugimoto. “These measures reflect our commitment to providing our
team and shareholders not only a transparent view of our
performance and financials, but also to delivering profit and
lasting value. This expectation reflects our confidence in the
future prospects of our financial performance based upon our world
class management team, robust strategic initiatives, and ability to
capitalize on emerging opportunities. We thank our shareholders and
team members for their support as we navigate the everchanging tide
of the international macroeconomic environment.”
Note: Dividends, if any, will be declared by the
Company’s Board of Directors, in its sole discretion. There can be
no assurance that a dividend will be declared, regardless of the
Company’s Full Year 2023 performance and results of operations, or
that a dividend, if declared, will be in a certain amount.
About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, our company
consists of SYLA Technologies Co., Ltd. and its consolidated
subsidiaries (SYLA Co., Ltd., SYLA Solar Co., Ltd., SYLA Brain Co.,
Ltd., and SYLA Biotech Co., Ltd.). 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.
Their mission is to democratize real estate investment around the
world through technology and asset management through the
Rimawari-kun platform. They are 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.
Contact Information
Gateway Group, Inc.John Yi and Thomas
ThayerSYLA@gatewayir.comTel +1 (949) 574-3860
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