Argus Research Initiates Equity Research Report Coverage on SYLA Technologies Co., Ltd. (NasdaqCM: SYT)
NEW YORK, Nov. 20, 2023 /PRNewswire/ -- Argus Research, an independent investment research firm, has launched Equity Research Report coverage on SYLA Technologies Co., Ltd. (NasdaqCM: SYT)
Click Here to view full Argus Equity Research Report.
COMPANY HIGHLIGHTS: Excerpts (as conveyed by Argus Analyst Steve Silver) include:
SYLA Technologies: Democratizing Real Estate Investment in Japan
In our view, SYLA Technologies has achieved a leading position among Japanese real estate crowdsourcing platforms in the three years since the platform launch. We see the company being well positioned to capitalize on favorable regulatory trends promoting real estate investments in Japan.
We view the company's investments in artificial intelligence (AI) as supporting its efficiency, by automating several processes in identifying properties and developing and managing projects.
In the first half of 2023, SYLA reported a nearly 60% increase in its crowdsourcing member base, and anticipates continued growth in both members and revenue, as several property projects are expected to be completed by the end of 2023. We expect long-term membership growth to be supported by key marketing agreements, including with leader Rakuten, which features more than 100 million members in Japan.
We expect higher revenues in the second half of 2023, and view positively SYLA's outlook to double its dividend over the prior year, with a target payout ratio of 30% over time. In our view, the company's prospects to increase its profitability while returning capital to its shareholders through share repurchases and dividends are underappreciated by investors.
As of June 30, 2023, the company had 3.8 billion yen ($25.3 million USD) in both free and restricted cash on its balance sheet, with an improved asset base and working capital position following its 2023 initial public offering and Nasdaq listing.
Based on our Enterprise Value (EV) to revenue analysis, we arrive at a fair value of $8.00 per ADS.
INVESTMENT THESIS: Click Here to view full Argus Equity Research Report and Investment Thesis.
About SYLA Technologies Co., Ltd. (NasdaqCM: SYT) www.syla-tech.jp
Headquartered in Tokyo, Japan, SYLA Technologies owns and operates the largest membership real estate crowd-funding plat form in Japan, Rimawari-kun. This platform aims to democratize real estate investment around the world through technology and asset management, targeting individuals, corporate and institutional investors, as well as high net worth individuals. The company is also engaged in other early-stage businesses that focus on the sale of renewable energy related products.
For more information please contact:
Hajime Sugino
Head of SYLA USA
h_sugino@syla.jp
(800) 643-7696
About Argus Research Corp.
Headquartered in NYC, Argus Research (www.argusresearch.com) is a leading independent equity research firm (est. 1934) ̶ providing fundamental and quantitative research coverage on more than 1,600 companies across all 11 sectors of the S&P 500, as well as macroeconomic and equity market forecasts, thematic research, model portfolios and IPO research. In addition, Argus has recently committed to providing a sponsored research solution for small & mid-cap companies seeking coverage. Argus's Equity Research & earnings estimates are available on major research / earnings estimate aggregator platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
For more Information please contact:
Darrell Stone
646-747-5438
dstone@argusresearch.com
Argus Research Co. has received a flat fee from the company discussed in this report as part of a Sponsored Research agreement between Argus and the company. No part of Argus Research's compensation is directly or indirectly related to the content of this assessment or to other opinions expressed in this report. Please refer to the full Argus report and the disclaimer for complete disclosures.
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