Sec Form 13D Filing - Yuto Yoshiyuki filing for SYLA TECHNOLOGIES CO LTD ADR (SYT) - 2024-03-07

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

SYLA Technologies Co., Ltd.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

871241105

(CUSIP Number)

Yoshiyuki Yuto Ebisu Prime Square Tower 7F, 1-1-39 Hiroo, Shibuya-ku, Tokyo, Japan +81 3-4560-0650

(Name, Address, and Telephone Number of Person Authorized

to Receive Notices and Communications)

 

March 30, 2023

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 871241105

 

1	NAMES OF REPORTING PERSONS   Yoshiyuki Yuto
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐
		(b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)	☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION   Japan

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER   24,783
	8	SHARED VOTING POWER   0
	9	SOLE DISPOSITIVE POWER   24,783
	10	SHARED DISPOSITIVE POWER   0

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   24,783 (1)
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   9.50% (2)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)   IN

 

(1) In addition to these shares, Mr. Yuto has a 46.18% ownership interest in SY Co., Ltd. (“SY Co.”), which holds 113,620 common shares, no par value of the issuer (“Common Shares”). Hiroyuki Sugimoto, the issuer’s Chief Executive Officer and Co-President, has a controlling interest (53.82%) in SY Co. and therefore, Mr. Sugimoto (rather than Mr. Yuto) is deemed to have beneficial ownership over all of SY Co.’s Common Shares as he has sole voting and dispositive power over these Common Shares (including the 52,469 Common Shares attributable to Mr. Yuto).

(2) The percentage is based on 260,891 Common Shares outstanding as of December 31, 2023.

 

 

Item 1. Security and Issuer

 

This Statement on Schedule 13D relates to the Common Shares of SYLA Technologies Co., Ltd., a Japan corporation (the “Issuer”), with its principal executive offices located at Ebisu Prime Square Tower 7F, 1-1-39, Hiroo, Shibuya-ku, Tokyo, Japan. Certain Common Shares are represented by American depository shares (“ADSs”), with each 100 ADSs representing one Common Share. The ADSs are listed on the NASDAQ Stock Market under the ticker symbol “SYT.” Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.

 

Item 2. Identity and Background

 

This Schedule 13D is being filed by Yoshiyuki Yuto.

 

(a) – (c), (f)

 

Mr. Yuto is a citizen of Japan. Mr. Yuto’s present principal occupation is Chief Operating Officer and Co-President of the Issuer, and his business address is the address of the Issuer’s principal offices above.

 

(d) - (e)

 

During the last five years, Mr. Yuto has not been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3. Source and Amount of Funds or Other Consideration

 

Mr. Yuto used personal funds to purchase his Common Shares. No part of the purchase price was represented by funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting the Common Shares.

 

Item 4. Purpose of Transaction

 

Mr. Yuto, who is an executive officer and director of the Issuer as of the date of this Schedule 13D, and was an executive officer and director of the Issuer when he acquired the Common Shares for the purpose of making an investment in the Issuer.

 

Mr. Yuto from time to time intends to review his investment in the Issuer on the basis of various factors, including the Issuer’s business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer’s shares in particular, as well as other developments and other investment opportunities. Based upon such review, Mr. Yuto will take such actions in the future as Mr. Yuto may deem appropriate in light of the circumstances existing from time to time. If Mr. Yuto believes that further investment in the Issuer is attractive, whether because of the market price of the Common Shares or otherwise, he may acquire Common Shares or other securities of the Issuer either in the open market or in privately negotiated transactions. Similarly, depending on market and other factors, Mr. Yuto may determine to dispose of some or all of the Common Shares currently owned by Mr. Yuto or otherwise acquired by Mr. Yuto either in the open market or in privately negotiated transactions.

 

 

Except as set forth in this Schedule 13D, Mr. Yuto has not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer, (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board of Directors, (e) any material change in the Issuer’s capitalization or dividend policy of the Issuer, (f) any other material change in the Issuer’s business or corporate structure, (g) any change in the Issuer’s charter or bylaws or other instrument corresponding thereto or other action which may impede the acquisition of control of the Issuer by any person, (h) causing a class of the Issuer’s securities to be deregistered or delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association, (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act or (j) any action similar to any of those enumerated above.

 

Item 5. Interest in Securities of the Issuer

 

(a) - (b) The following disclosure is based upon 260,891 Common Shares outstanding as of December 31, 2023.

 

Mr. Yuto is the beneficial owner of 24,783 Common Shares which are directly owned by Mr. Yuto. Mr. Yuto’s Common Shares represent 9.50% of the Issuer’s outstanding Common Shares as of December 31, 2023. Mr. Yuto also has a 46.18% ownership interest in SY Co., which holds 113,620 Common Shares. Hiroyuki Sugimoto, the Issuer’s Chief Executive Officer and Co-President, has a controlling interest (53.82%) in SY Co. and therefore, Mr. Sugimoto (rather than Mr. Yuto) is deemed to have beneficial ownership over all of SY Co.’s Common Shares as he has sole voting and dispositive power over these Common Shares (including the 52,469 Common Shares attributable to Mr. Yuto).

 

(c) Mr. Yuto has not effectuated any transactions during the past 60 days in any ADSs or Common Shares.

 

(d) Not applicable.

 

(e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

The relationships between Mr. Yuto and others described in Item 5 above is incorporated herein by reference.

 

Item 7. Material to Be Filed as Exhibits

 

Not applicable.

 

 

Signature

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: March 7, 2024

 

	/s/ Yoshiyuki Yuto
	Yoshiyuki Yuto