SYLA Technologies Enters into a “Capital and Business Alliance Agreement” with RIBERESUTE

TOKYO, Jan. 23, 2024 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (NASDAQ:SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowdfunding platform in Japan, Rimawari-kun, today announced that it has entered into a Capital and Business Alliance Agreement (the “Agreement”) with RIBERESUTE CORPORATION, a Japan-based developer and seller of family-type condominiums (TSE: 8887) (“RIBERESUTE”). The companies had entered into a “Basic Agreement on Business Alliance” on November 15, 2023, and had also agreed on the same date that SYLA would acquire 2,158,800 shares of common stock of RIBERESUTE (which amounts to 20.39% of its 10,589,800 outstanding shares as of November 30, 2023) from four of its shareholders. This share acquisition was completed on January 12, 2024.

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