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

Core Viewpoint - SYLA Technologies is advancing its renewable energy business through an absorption-style merger between its subsidiaries, SYLA Solar and SYLA Biotech, effective July 1, 2024, to achieve mid-term sales targets by the end of fiscal year 2026 [1][2][4]. Group 1: Merger Details - The merger will result in SYLA Solar as the surviving entity, while SYLA Biotech will be absorbed, with both companies being 100% subsidiaries of SYLA Technologies [2][4]. - The merger is a non-monetary transaction, meaning no new shares will be issued [2]. Group 2: Business Focus - SYLA Solar is involved in solar power generation, EPC services, and retail electricity sales, supporting the overall renewable energy strategy of the group [5]. - SYLA Biotech operates 100% renewable energy data centers, contributing to environmental sustainability [5]. Group 3: Strategic Support - The company is receiving strong support from the Ministry of Economy, Trade and Industry, focusing on solar power development to enhance corporate value and business growth [8].