SYLA Technologies’ SYLA Solar absorbs, merges with SYLA Biotech

SYLA Solar Co. absorbed and merged with SYLA Biotech Corporation, effective on July 1st, 2024. The company said, “SYLA Technologies is focusing on advancing its renewable energy business as a part of growth strategy to achieve its mid-term sales targets by the end of fiscal year 2026. With strong subsidy support from the Ministry of Economy, Trade and Industry, the company’s main thrust is the development of solar power sources, aiming to further grow its business and enhance corporate value. SYLA Solar is engaged in the development of solar power generation, EPC services, and retail electricity sales, thereby supporting the overall renewable energy business of the group. SYLA Biotech sells and operates 100% renewable energy data centers, contributing to reducing environmental impact. With this absorption merger on July 1st , 2024, with SYLA Solar is the surviving company and SYLA Biotech is absorbed company. Since both companies are 100% subsidiaries of SYLA Technologies, this merger is executed as a non-monetary transaction without issuance of new shares.”