SYLA Technologies Announces Movement of ADS Record Date for Interim Dividend
August 31 2023 - 2:05AM
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 the record date for ADS holders for
payment of the interim dividend has been changed to September 11,
2023. The previously announced record date for ADS holders of
August 31, 2023 has been changed for Nasdaq regulatory purposes.
Trading of SYLA’s ADSs has been temporarily halted in connection
with this matter.
Based on an August 30 exchange rate of $1.00 =
¥145.79 and the ADS ratio of 100 ADSs to 1 common share, the
interim dividend amount of ¥70 per common share would be equivalent
to approximately $0.0048 per ADS. The Company currently anticipates
that payment of the dividends is to be made to ADS holders in
December 2023.
“The shift in record date for the ADR to September 11th, 2023
does not affect our intent to issue the interim dividend, nor our
operations,” said Chairman, Founder, and CEO Hiroyuki Sugimoto.
“Our commitment to long-term shareholder value remains unwavering,
and we look to continue enacting processes that are in the best
interest of our stakeholders.”
Overview of the Interim Dividend for the Fiscal Year
Ending December 2023
|
FY 2023Interim Dividend |
FY 2023Recent dividend forecast announced on May 17, 2023 |
FY 2022Annual Dividend |
Record Date |
September 11, 2023 (for ADS holders) |
- |
December 31, 2022 |
Dividend per share |
Interim dividend 70.00 yen |
Annual dividend 140.00 yen |
Annual dividend 70.00 yen |
Total dividends |
18,069,870 yen |
|
16,676,730 yen |
Dividend Resource |
Retained earnings |
- |
Retained earnings |
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
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
Gateway Group, Inc.John Yi and Thomas
ThayerSYLA@gateway-grp.comTel +1 (949) 574-3860
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