SYLA Reports Full Year 2023 Financial and Operational Results

SYLA Technologies Co., Ltd. reported its financial results for the full year ended December 31, 2023.

Full Year 2023 Operational Highlights: Rimawari-kun members reached 279,029 as of December 31, 2023, a 17.7% increase from 2022. Rimawari-kun platform gross merchandise value surpassed 5 billion yen as of December 31, 2023.

As of May 8, 2024, ietty membership surpassed 400,000, a 100,000 increase in membership since the acquisition. Subsidiary SYLA Solar issued series 1 unsecured bonds of ¥50 million and formed a comprehensive business alliance with LIVE THE CREATIVE Inc. The company is pursuing a growth strategy centered on mergers and acquisitions.

For the full year 2023, revenues increased 3.12% to ¥22,743,410 thousand (US $161.4 million). Gross profit increased 53.66% to ¥5,537,444 thousand (US $39.3 million). Total operating expenses increased to ¥4,096,346 thousand (US $29.1 million). Net income from continuing operations increased by 141.14% to ¥749,361 thousand (US $5.3 million).

As of December 31, 2023, SYLA Technologies Co., Ltd. had ¥4,017,311, thousand (US $28.5 million) cash and cash equivalents. Total net assets increased to ¥40,084,427 thousand ($285 million).

SYLA is providing the following guidance for fiscal year 2024: Low (JPY)High (JPY) Fiscal Year 2024 Revenue27.5 billion yen 30.0 billion yen Fiscal Year 2024 Income from Continuing Operations 750 million yen 1.10 billion yen