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YLA Technologies, the largest membership real estate crowd-funding platform in Japan's Rimawari-kun, reported its interim financial results for the six months ended June 30, 2024. The company achieved a 13% revenue increase compared to the same period in 2023 and anticipates completing nine new projects in the second half of 2024, boosting gross profit.

    Key highlights from SYLA's operational performance include:

    * Entering into a capital and business alliance with CUMICA CORPORATION

    * Subscribing to a third-party allotment of new shares issued by CUMICA CORPORATION

    * Announcing mid-term revenue targets and a growth strategy centered on M&A

    * Developing an ultra-luxurious residence, THE SYLA SHIBUYA-TOMIGAYA

    * Completing construction of the Company's first office building, SYLA TOYOCHO

    Rimawari-kun's gross merchandise volume surpassed ¥7.5 billion, and the average occupancy rate for the SYFORME series of original brand condominiums was 99.80% in the first half of 2024.

    First-Half 2024 Financial Results:

    * Total revenues increased to $65.7 million from $57.9 million in the same period last year

    * Gross profit decreased to $12.1 million due to a decline in large-scale development site sales

    * Net loss attributable to SYLA Technologies was $0.4 million, compared to net income of $1.6 million in the same period last year

    As of June 30, 2024, SYLA Technologies had $14.8 million in cash and cash equivalents.