SYLA Technologies Co., Ltd. (NASDAQ:SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, has initiated its recently announced Employee Stock Purchase Plan (“ESPP”), which has commenced purchasing the Company’s American Depositary Shares (ADSs) on the NASDAQ market as of Friday, October 13, 2023.
Purpose of the ESPP
Established in August 2023, the goal of the ESPP is to enhance the welfare of SYLA employees and promote asset building by providing incentives for employees to acquire and hold the Company’s shares. Additionally, the intent was to foster an investment and managerial outlook among employees to further enhance its corporate value.
Expected Outline of the ESPP
| Name | SYLA Technologies Employee Stock Purchase Plan |
| Securities to be purchased | American Depositary Shares (100 ADSs = 1 common share of SYLA) |
| Eligibility | Employees (voluntary membership) |
| Establishment | August 2023 |
| Contribution | Generally, in units of 1,000 yen each, with a maximum of 200 units (200,000 yen) at the time of monthly salaries and 400 units (400,000 yen) at the time of bonuses. |
| Company subsidy | An amount equal to 20% of employee contributions |
| Timing for withdrawal | Voluntary or at retirement |
“I am pleased to announce that SYLA’s Employee Stock Purchase Plan has officially begun purchasing our American Depositary Shares on October 13, 2023,” said Chairman, Founder, and CEO Hiroyuki Sugimoto. “Our vision is to foster greater employee engagement and benefits by extending partial ownership in the Company, reinforcing our commitment to harmonizing the interests of our valued internal stakeholders with the success of the company. Through enhanced internal incentives and strategic alignment, we remain steadfast in our dedication to both the prosperity of our employees and the long-term success of our company. We are confident in our ability to continue executing our strategic growth plan and look forward to closing out the year on a high note, especially on the heels of our robust earnings results.”
