$SYLA Technologies (SYT.US) Earnings

$SYLA Technologies (SYT.US)$

SYLA Technologies Co., a leading operator of Japan’s largest membership real estate crowd-funding platform, Rimawari-kun, has released its interim financial results for the first half of 2024. Here are the key highlights:

- Revenue increased by 13% to ¥10,564,041 thousand ($65.7 million).

- Gross profit decreased by 13% to ¥1,944,954 thousand ($12.1 million).

- Net loss was ¥67,257 thousand ($0.4 million).

- As of June 30, 2024, the company held cash and cash equivalents of ¥2,381,394 thousand ($14.8 million).

- Notably, SYLA experienced a surge in real estate sales, with 162 units sold, a significant increase from 110 units in the same period last year.

In addition to these achievements, the company announced several strategic initiatives. Firstly, it formed a capital alliance with CUMICA, a renowned developer of luxury residences. Secondly, SYLA embarked on a new venture in the renewable energy sector, aiming to expand its market presence and contribute to sustainable development.

Furthermore, Rimawari-kun, SYLA’s crowdfunding platform, achieved a remarkable milestone by surpassing ¥7.5 billion in gross merchandise value (GMV). This achievement underscores the platform’s success and its growing popularity among investors and real estate enthusiasts.

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