SYLA Technologies Initiates its Employee Stock Purchase Plan
19 Ottobre 2023 - 10:05PM
SYLA Technologies Co., Ltd. (NASDAQ: SYT)
(“SYLA” or “the Company”), operator of the largest
membership real estate crowd-funding platform in Japan, has
initiated its recently announced Employee Stock Purchase Plan
(“ESPP”), which has commenced purchasing the Company’s American
Depositary Shares (ADSs) on the NASDAQ market as of Friday, October
13, 2023.
Purpose of the ESPPEstablished
in August 2023, the goal of the ESPP is to enhance the welfare of
SYLA employees and promote asset building by providing incentives
for employees to acquire and hold the Company's shares.
Additionally, the intent was to foster an investment and managerial
outlook among employees to further enhance its corporate value.
Expected Outline of the ESPP
Name |
SYLA Technologies Employee Stock Purchase Plan |
Securities to be purchased |
American Depositary Shares (100 ADSs = 1 common share of SYLA) |
Eligibility |
Employees (voluntary membership) |
Establishment |
August 2023 |
Contribution |
Generally, in units of 1,000 yen each, with a maximum of 200 units
(200,000 yen) at the time of monthly salaries and 400 units
(400,000 yen) at the time of bonuses. |
Company subsidy |
An amount equal to 20% of employee contributions |
Timing for withdrawal |
Voluntary or at retirement |
“I am pleased to announce that SYLA’s Employee
Stock Purchase Plan has officially begun purchasing our American
Depositary Shares on October 13, 2023,” said Chairman, Founder, and
CEO Hiroyuki Sugimoto. “Our vision is to foster greater employee
engagement and benefits by extending partial ownership in the
Company, reinforcing our commitment to harmonizing the interests of
our valued internal stakeholders with the success of the company.
Through enhanced internal incentives and strategic alignment, we
remain steadfast in our dedication to both the prosperity of our
employees and the long-term success of our company. We are
confident in our ability to continue executing our strategic growth
plan and look forward to closing out the year on a high note,
especially on the heels of our robust earnings results.”
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 StatementsThis 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
SYLA Technologies Investor Relations
Contact :Gateway Group, Inc.John Yi and Steven
ShinmachiSYLA@gateway-grp.com (949) 574-3860
SYLA Technologies Company
Contact :Hajime SuginoHead of SYLA
USAh_sugino@syla.jp
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