SYLA Solar to absorb renewable data center company in move to leverage business strength

Group 1 - SYLA Solar Co., Ltd. has merged with SYLA Biotech Corporation, effective July 1, 2024, with SYLA Solar as the surviving entity [1][4] - The merger is part of SYLA Technologies' growth strategy to enhance its renewable energy business and achieve mid-term sales targets by the end of fiscal year 2026 [2] - SYLA Solar focuses on solar power generation, EPC services, and retail electricity sales, while SYLA Biotech operates renewable energy data centers [3] Group 2 - The merger is executed as a non-monetary transaction without the issuance of new shares, as both companies are wholly owned subsidiaries of SYLA Technologies [4] - SYLA Solar was established in August 2013 with a capital of 46 million yen, while SYLA Biotech was established in April 2022 with a capital of 5 million yen [5]