SYLA Holdings Co.,Ltd. [8887.T]
TOKYO, Mar 27 (Pulse News Wire) – Syla Holdings CO.,LTD. (8887.T) announced today that its subsidiary, SYLA Corporation, has finalized agreements related to the sale of development land and a construction contract for a residential building.
The transaction involves the sale of approximately 1713.13 square meters of land located at Kanagawa, Yokohama Shi Kanagawa Ku Irie. Additionally, SYLA Corporation has entered into a construction contract for a six-story reinforced concrete structure with a planned floor area of 3424.16 square meters. The construction project is scheduled to commence in October 2026 and conclude in August 2028. Both the sale price and the construction contract amount remain undisclosed due to confidentiality agreements with the buyer. However, SYLA Holdings confirmed that these figures exceed the company's revenue from the previous fiscal year ending May 2025. The sale agreement was signed, with settlement and delivery set for May 15, 2026.
The construction contract is also expected to be formalized on the same day. Regarding future earnings projections, SYLA anticipates recognizing revenues and profits from the land sale in the fourth quarter of the fiscal year ending May 2026. Revenue and profit from the construction contract will be recognized during the construction period from October 2026 to August 2028, contingent upon the progress of the work. While the proceeds from this transaction are not included in the current fiscal year’s performance forecast, SYLA does not anticipate revising its forecasts at this time. Any necessary adjustments will be communicated promptly should circumstances warrant such changes. Further impacts on subsequent fiscal periods beginning May 2027 will be disclosed once determined.
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