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SYLA Technologies Co., Ltd. (Nasdaq: SYT) Announces Closing of US$15 Million Initial Public Offering

Tokyo, Japan & Irvine, CA – April 5, 2023 – Boustead Securities, LLC (“Boustead”) IPO client SYLA Technologies Co., Ltd., (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, today announced that it has closed its previously announced initial public offering of 1,875,000 American Depositary Shares (“ADSs”) at a price to the public of US$8.00 per ADS, for total gross proceeds of US$15,000,000. Each 100 ADSs represent one common share of SYLA. After deducting the underwriting commissions, discounts, and offering expenses payable by SYLA, SYLA received net proceeds of approximately US$13.6 million. SYLA intends to use the net proceeds of the offering for working capital and general corporate purposes, which may include investments, acquisitions, or strategic collaborations to expand its customer base, as well as the development and marketing of new services.

The ADSs began trading on the Nasdaq Capital Market on March 31, 2023, under the symbols “SYT.” SYLA is scheduled to ring the Nasdaq opening bell on April 10, 2023.

Boustead Securities, LLC acted as the managing underwriter and bookrunner for the initial public offering.

Anthony L.G., PLLC acted as U.S. legal counsel to SYLA and Bevilacqua PLLC acted as legal counsel to Boustead Securities, LLC for the initial public offering. DT Legal Japan acted as Japanese legal counsel to SYLA.

The ADSs were offered pursuant to the Company’s registration statement on Form F-1 (File No. 333-268420) previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus relating to the offering was filed with the SEC on March 31, 2023 and is available on the SEC’s website at A copy of the final prospectus related to the offering may be obtained from Boustead Securities, LLC, via email: or by calling 1 (949) 502-4408 or requested by standard mail at Boustead Securities LLC: Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any security in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.


About SYLA Technologies Co., Ltd.

Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd consists of the Company and its consolidated subsidiaries (SYLA Corporation, SYLA Solar Corporation, SYLA Brain Corporation, and SYLA Biotech Corporation). 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

About Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit:

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