SYLA Technologies Co., Ltd. (NasdaqCM : SYT) entered into an agreement to acquire a 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives for ¥2 billion on November 15, 2023. SYLA will pay ¥921 cash per share for 2,158,800 shares of Riberesute. Prior to this transaction, SYLA held no stake and following the share acquisition will become the largest shareholder of Riberesute. The share acquisition is subject to certain closing conditions and is expected to be completed by mid-January 2024. SYLA does not expect the conclusion of the share acquisition to have a significant impact on its business performance for the fiscal year ending December 2023.

SYLA Technologies Co., Ltd. (NasdaqCM : SYT) completed the acquisition of 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives on January 12, 2024.