Syla Technologies raises 2023 EPS view to Y2,600 from Y1,359-Y1,637

Revenues are expected to be Y22,500 million, a reduction from the Previous Guidance of Y24,700 – Y26,700 million; Income from continuing operations is expected to be Y1,450 million, an increase from the Previous Guidance of Y850 – Y980 million. “We are pleased to announce revised financial guidance for fiscal year 2023,” said Chairman, Founder, and CEO Hiroyuki Sugimoto. “Due to a shift in the expected sales timing, revenues are anticipated to be slightly below our Previous Guidance. However, income from continuing operations is expected to significantly exceed the Previous Guidance, driven by the following expected factors: Reduction in the cost of sales ratio through our one-stop business model for land acquisition, architectural design, and building construction. Higher profit margin compared to our conventional property sale business expected through bulk sale of several buildings. Substantial reduction in operating expenses in the crowdfunding business through the collaboration with the Rakuten Group. We will continue to focus on enhancing shareholder value and strive for improved profitability in our management endeavors.”