US Market News
2月前
LEIFRAS Co., Ltd. Reports Fiscal Year 2025 Financial ResultsApril 8, 2026 4:30 PM
PR Newswire (US)
Record-High Revenue and Operating Income, Up 13.5% and 20.7% Year Over Year Respectively[1]TOKYO, April 8, 2026 /PRNewswire/ -- LEIFRAS Co., Ltd. (Nasdaq: LFS) (the "Company" or "Leifras"), a sports and social business company dedicated to youth sports and community engagement, today announced its financial results for the fiscal year ended December 31, 2025.Fiscal Year 2025 Financial Highlights Revenue was JPY11.7 billion ($74.8 million), an increase of 13.5% from JPY10.3 billion for fiscal year 2024.Income from operations was JPY627.4 million ($4.0 million), an increase of 20.7% from JPY519.8 million for fiscal year 2024.Net income was JPY438.5 million ($2.8 million), an increase of 4.7% from JPY418.6 million for fiscal year 2024.Adjusted income from operations was JPY692.3 million ($4.4 million), an increase of 41.8% from JPY488.2 million for fiscal year 2024.Basic and diluted earnings per share was JPY17.41 ($0.11), compared to basic earnings per share of JPY16.81 ($0.11) and diluted earnings per share of JPY15.78 ($0.10) for fiscal year 2024.Fiscal Year 2025 Operational HighlightsSports School BusinessNumber of members was 70,688, an increase of 0.04% from 70,663 for fiscal year 2024.Revenue of sports school business was JPY8,560 million ($54.6 million), an increase of 7.8% from JPY7,944 million for fiscal year 2024.Social BusinessNumber of schools was 381, an increase of 9.8% from 347 for fiscal year 2024.Revenue of social business was JPY3,168 million ($20.2 million), an increase of 32.8% from JPY2,385 million for fiscal year 2024.Management CommentaryMr. Kiyotaka Ito, the Representative Director and Chief Executive Officer of Leifras, commented, "For the full fiscal year ended December 2025, we achieved record highs in revenue, income from operations, and adjusted income from operations. Revenue in the sports school business increased by 7.8% compared to the same period last year, and revenue in the social business increased by 32.8% compared to the same period last year. These results reflect the steady growth of the sports school business, which boasts the largest market share in Japan, as well as an increase in the number of contracts for the club activities business, which is a growth driver. In particular, in our social business, in addition to being the No. 1 company in Japan in terms of club activity contracting, in 2025 we have signed new contracts with many schools, including Suita City, Osaka Prefecture; Shibuya Ward, Tokyo; and Monbetsu City, Hokkaido. The Japanese government's club activity reforms will transfer the management of school-based club activities to local communities and the private sector, with the 'reform implementation period' from 2026 to 2031 marking the full-scale transition from school-based to local communities and the private sector. This national policy is a powerful tailwind for our company and paves the way for medium- to long-term growth. We will continue to take on the challenge of supporting the smiles and growth of children across borders by sharing our sports-based non-cognitive skills development services, which we have cultivated in Japan, with the world. We appreciate your continued support."Financial ConditionAs of December 31, 2025, the Company had cash and cash equivalents of JPY2.52 billion ($16.1 million), compared to JPY2.54 billion as of December 31, 2024.Net cash provided by operating activities was JPY468.3 million ($3.0 million) for fiscal year 2025, compared to JPY207.1 million for fiscal year 2024.Net cash used in investing activities was JPY53.5 million ($0.3 million) for fiscal year 2025, compared to JPY51.4 million for fiscal year 2024.Net cash used in financing activities was JPY437.0 million ($2.8 million) for fiscal year 2025, compared to JPY346.4 million for fiscal year 2024.Financial GuidanceRevenue is expected to be between $82.9 million and $95.7 million for the fiscal year ending December 31, 2026, an increase of approximately 10.8% to 27.9% from $74.8 million for the fiscal year ended December 31, 2025.Income from operations is expected to be between $4.5 million and $5.4 million for the fiscal year ending December 31, 2026, an increase of approximately 13.2% to 33.9% from $4.0 million for the fiscal year ended December 31, 2025.The Guidance is based on the assumption that no business acquisitions, restructuring activities, or legal settlements will take place during the period.Conference Call InformationThe Company will host an English-language conference call at 8:30 am U.S. Eastern Time (9:30 pm Japan Standard Time) on April 14, 2026 and a Japanese-language conference call at 3:00 am U.S. Eastern Time (4:00 pm Japan Standard Time) on April 15, 2026. To attend the earnings conference calls, please use the following access information.Dial-in details for the English-language conference call:
Date:
April 14, 2026Time:
8:30 am U.S. Eastern Time (9:30 pm Japan Standard Time)International:
1-412-902-4272USA/CANADA TOLL-FREE
1-888-346-8982Conference ID:
Leifras Co., Ltd.Webcast:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=Id5RSCFh
Dial-in details for the Japanese-language conference call:
Date:
April 15, 2026Time:
3:00 am U.S. Eastern Time (4:00 pm Japan Standard Time)Pre-registration Link for Dial-in Access:
https://zoom.us/webinar/register/WN_Je53cHjFT4OyGlARdeUdWg
Please dial in at least 15 minutes before the commencement of the call to ensure timely participation.For those unable to participate, an audio replay of the conference call will be available from approximately one hour after the end of the live call until April 21, 2026. The dial-in for the replay is 1-855-669-9658 within the United States or 1-412-317-0088 internationally. The replay access code is 6857888.A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.leifras.co.jp.Exchange Rate InformationThis announcement contains translations of certain Japanese Yen ("JPY") amounts into U.S. dollars ("USD," or "$") for the convenience of the reader. Translations of amounts from JPY into USD have been made at the exchange rate of JPY156.80 = $1.00, the exchange rate on December 31, 2025 set forth in the H.10 statistical release of the United States Federal Reserve Board.About LEIFRAS Co., Ltd.Headquartered in Tokyo, Leifras is a sports and social business company dedicated to youth sports and community engagement. The Company primarily provides services related to the organization and operations of sports schools and sports events for children. As of December 31, 2025, Leifras was recognized as one of Japan's largest operators of children's sports schools in terms of both membership and facilities by Tokyo Shoko Research. The Company's approach to sports education emphasizes the development of non-cognitive skills, following the teaching principle "acknowledge, praise, encourage, and motivate." The holistic approach that integrates physical and mental development sets Leifras apart in the industry. Building upon deep experience and know-how in sports education, Leifras also operates a robust social business sector, dispatching sports coaches to meet various community needs with the aim to promote physical health, social inclusion, and community well-being across different demographics.For more information, please visit the Company's website: https://ir.leifras.co.jp/.Non-GAAP Financial MeasuresIn the Company's annual report on Form 20-F, it discusses key financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") to supplement its consolidated financial statements presented on a GAAP basis. This non-GAAP financial measure is reconciled from its most directly comparable financial measure determined in accordance with GAAP as follows:Non-GAAP Financial Measures and ReconciliationAdjusted INCOME FROM OPERATIONS
For the Fiscal Years Ended
December 31,
2024
2025
2025
JPY
JPY
US$
INCOME FROM OPERATIONS
519,757,261
627,405,815
4,001,313
Plus: listing-related and transformational expenses(a)
24,392,841
64,901,063
413,910
Less: litigation-related reimbursement(b)
(55,935,710)
-
-
Adjusted INCOME FROM OPERATIONS
488,214,392
692,306,878
4,415,223
(a) Represents one-time listing-related and other transformational expenses incurred in connection with our initial
public offering and corporate transformation initiatives in fiscal years 2024 and 2025. These costs were
recognized as expenses in the statement of operations and were not recorded as direct deductions from equity.(b) Litigation-related reimbursement received in fiscal year 2024 from the CEO in connection with a dispute
involving a former director. As this payment represents a non-recurring and unusual item, it has been excluded
for normalization purposes. Adjusted income from operations is a financial measure that is not calculated in accordance with GAAP (collectively referred to as the "non-GAAP financial measures"), and the use of the terms adjusted income from operations may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. The Company believes the non-GAAP financial measure provides investors with useful information with respect to its historical operations. The Company presents the non-GAAP financial measure as supplemental performance measures because the Company believe it facilitates a comparative assessment of its operating performance relative to its performance based on its results under GAAP, while isolating the effects of some items that vary from period to period. Specifically, adjusted income from operations allows the Company to assess its performance without the impact of the specifically identified items that the Company believes do not directly reflect its core operations, including non-recurring costs, such as listing-related and transformational expenses, other non-recurring income, such as litigation-related reimbursement. The non-GAAP financial measure also functions as key performance indicator used to evaluate the Company's operating performance internally, and it is used in connection with the determination of incentive compensation for management, including executive officers.Adjusted income from operations is not a measurement of the Company's financial performance under GAAP and should not be considered in isolation or as an alternative to income from operations or any other financial statement data presented as indicators of financial performance or liquidity, each as presented in accordance with GAAP. Consequently, the Company's non-GAAP financial measure should be considered together with its consolidated financial statements, which are prepared in accordance with GAAP and included in Item 8 of its Annual Report on Form 20-F. The Company understands that although adjusted income from operations is frequently used by securities analysts, lenders and others in their evaluation of companies, it has limitations as analytical tools, and you should not consider it in isolation, or as a substitute for analysis of its results as reported under GAAP. Some of these limitations are: adjusted income from operations does not fully reflect its cash expenditures, future requirements for capital expenditures or contractual commitments; adjusted income from operations does not reflect changes in, or cash requirements for, its working capital needs; adjusted income from operations does not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on debt; and, although depreciation and amortization expenses are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted income from operations does not reflect any cash requirements for such replacements.Because of these limitations, adjusted income from operations should not be considered as discretionary cash available to the Company to reinvest in the growth of its business or as measure of cash that will be available to the Company to meet its obligations.Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may," or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.For more information, please contact:LEIFRAS Co., Ltd.
Investor Relations Department
Email: IR@leifras.co.jpAscent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.comNote: [1] Record high in US-GAAP figures since 2023.LEIFRAS CO., LTD. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS
As of December 31,
2024
2025
2025
JPY
JPY
US$
ASSETS
CURRENT ASSETS
Cash
2,538,554,638
2,524,082,266
16,097,463
Accounts receivable, net
518,398,551
731,083,491
4,662,522
Short-term investments
4,935,000
-
-
Inventories, net
24,468,188
21,578,477
137,618
Prepaid expenses
182,278,232
158,040,280
1,007,910
Other current assets
34,381,843
38,219,685
243,748
TOTAL CURRENT ASSETS
3,303,016,452
3,473,004,199
22,149,261
NON-CURRENT ASSETS
Property and equipment, net
53,805,279
96,456,471
615,158
Finance lease right-of-use assets
208,611,550
236,908,226
1,510,894
Operating lease right-of-use assets
337,330,750
482,694,859
3,078,411
Intangible assets, net
39,250,078
29,631,015
188,973
Long-term investments
-
5,736,500
36,585
Goodwill
27,999,994
27,999,994
178,571
Deferred tax assets, net
214,671,578
164,082,227
1,046,443
Deferred initial public offering ("IPO") costs
157,482,065
-
-
Long-term deposits
150,407,276
150,216,792
958,015
Other non-current assets
3,090,205
8,470,398
54,020
TOTAL NON-CURRENT ASSETS
1,192,648,775
1,202,196,482
7,667,070
TOTAL ASSETS
4,495,665,227
4,675,200,681
29,816,331
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term loans
700,000,000
100,000,000
637,755
Current portion of long-term loans
230,785,000
151,030,000
963,202
Bond payable, current
40,000,000
40,000,000
255,102
Accounts payable
168,281,568
196,849,154
1,255,416
Accrued liabilities
1,109,740,581
1,160,996,435
7,404,314
Income tax payable
75,374,800
43,499,500
277,420
Contract liabilities, current
147,628,310
154,074,620
982,619
Amount due to a director
1,000,000
-
-
Finance lease liabilities, current
71,681,545
88,017,810
561,338
Operating lease liabilities, current
110,889,134
138,880,117
885,715
Other current liabilities
195,952,191
176,592,537
1,126,228
TOTAL CURRENT LIABILITIES
2,851,333,129
2,249,940,173
14,349,109
NON-CURRENT LIABILITIES
Long-term loans, net of current portion
175,452,000
24,422,000
155,752
Bond payable, non-current
56,807,020
18,175,440
115,915
Contract liabilities, non-current
10,615,635
12,817,448
81,744
Finance lease liabilities, non-current
140,333,247
144,989,192
924,676
Operating lease liabilities, non-current
207,353,977
347,365,643
2,215,342
Assets retirement obligations
12,914,758
30,775,915
196,275
TOTAL NON-CURRENT LIABILITIES
603,476,637
578,545,638
3,689,704
TOTAL LIABILITIES
3,454,809,766
2,828,485,811
18,038,813
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Ordinary shares, 80,000,000 shares authorized; 25,310,660 shares
issued and 24,910,619 shares outstanding as of December 31,
2024 and 26,560,660 shares issued and 26,160,619 shares
outstanding as of December 31, 2025*
80,500,000
409,833,241
2,613,732
Additional paid-in capital
748,840,080
786,906,631
5,018,537
Treasury shares, 400,041 shares as of December 31, 2024 and 2025,
respectively*
(100,012,265)
(100,012,265)
(637,833)
Retained Earnings
311,527,646
749,987,263
4,783,082
TOTAL SHAREHOLDERS' EQUITY
1,040,855,461
1,846,714,870
11,777,518
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
4,495,665,227
4,675,200,681
29,816,331
* Retrospectively restated for a 1-to-20 share split which became effective on November 1, 2024. LEIFRAS CO., LTD. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME
For the Fiscal Years ended December 31,
2023
2024
2025
2025
JPY
JPY
JPY
US$
NET REVENUE
9,304,011,693
10,329,658,133
11,728,402,114
74,798,483
Cost of revenue
(6,966,376,610)
(7,381,911,441)
(8,262,783,362)
(52,696,323)
GROSS PROFIT
2,337,635,083
2,947,746,692
3,465,618,752
22,102,160
Selling, general, and administrative expenses
(1,941,979,790)
(2,427,989,431)
(2,838,212,937)
(18,100,847)
INCOME FROM OPERATIONS
395,655,293
519,757,261
627,405,815
4,001,313
OTHER INCOME (EXPENSE)
Interest income
319,563
333,704
3,812,636
24,314
Interest expense
(13,828,146)
(16,499,609)
(16,480,844)
(105,107)
Grant income
14,461,568
17,038,263
16,821,366
107,279
Unrealized gain (loss) on short-term investment
175,000
(87,500)
-
-
Unrealized gain on long-term investment
-
-
801,500
5,112
Loss on disposal of long-lived assets
(712,149)
(190,430)
(659,442)
(4,206)
Loss on disposal of a subsidiary
-
(753,900)
-
-
Other income (expenses), net
14,126,116
18,385,674
(24,884,546)
(158,702)
Total other income (expenses), net
14,541,952
18,226,202
(20,589,330)
(131,310)
INCOME BEFORE INCOME TAX
PROVISION
410,197,245
537,983,463
606,816,485
3,870,003
PROVISION FOR INCOME TAXES
Current
(159,658,082)
(156,791,073)
(117,767,517)
(751,068)
Deferred
(5,198,043)
37,441,597
(50,589,351)
(322,636)
Total provision for income taxes
(164,856,125)
(119,349,476)
(168,356,868)
(1,073,704)
NET INCOME
245,341,120
418,633,987
438,459,617
2,796,299
WEIGHTED AVERAGE NUMBER OF
ORDINARY SHARES
Basic*
25,298,605
24,910,656
25,191,441
25,191,441
Diluted*
28,561,813
26,521,008
25,194,441
25,194,441
EARNINGS PER SHARE
Basic*
9.70
16.81
17.41
0.11
Diluted*
8.59
15.78
17.40
0.11
* Retrospectively restated for a 1-to-20 share split which became effective on November 1, 2024. LEIFRAS CO., LTD. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS
For the Fiscal Years ended December 31,
2023
2024
2025
2025
JPY
JPY
JPY
US$
Cash flows from operating activities
Net income
245,341,120
418,633,987
438,459,617
2,796,299
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization expense
92,376,436
122,007,991
126,109,125
804,267
Loss on disposal of a subsidiary
-
753,900
-
-
Provision for expected credit loss
1,540,558
2,004,676
8,647,329
55,149
Loss on disposal of property and equipment
651,482
190,430
247,775
1,580
Loss on disposal of intangible assets
60,667
-
411,667
2,626
Provision for inventory impairment
2,050,199
3,159,439
601,009
3,833
Unrealized (gain) loss on short-term investment
(175,000)
87,500
-
-
Unrealized gain on long-term investment
-
-
(801,500)
(5,112)
Unrealized foreign currency exchange gain
-
-
(7,743,963)
(49,387)
Share-based compensation
6,787,500
-
-
-
Other non-cash income
(53,186,243)
(2,572,426)
(165,310)
(1,054)
Deferred tax expense
5,198,043
(37,441,597)
50,589,351
322,636
Changes in operating assets and liabilities
Accounts receivable, net
(140,305,194)
(100,804,801)
(221,332,269)
(1,411,558)
Inventories
4,738,514
(7,121,445)
2,288,702
14,596
Prepaid expenses
(15,384,821)
(74,376,336)
23,960,671
152,810
Long-term deposits
(12,472,270)
(13,114,365)
190,484
1,215
Amount due from a director
-
33,577,065
-
-
Other current assets
(5,694,167)
(5,887,422)
(3,837,842)
(24,476)
Other non-current assets
5,943,850
(11,766,167)
(5,380,193)
(34,312)
Accounts payable
40,249,686
(3,215,853)
28,567,586
182,191
Accrued liabilities
324,832,914
(86,514,627)
51,255,854
326,887
Contract liabilities
(2,561,454)
19,842,770
8,648,123
55,154
Operating lease liabilities
28,733
(1,070,016)
22,638,540
144,378
Income tax payable
149,480,600
(79,952,400)
(31,875,300)
(203,286)
Amount due to a director
-
1,000,000
(1,000,000)
(6,378)
Other current liabilities
28,440,743
29,691,091
(22,183,453)
(141,476)
Net cash provided by operating activities
677,941,896
207,111,394
468,296,003
2,986,582
Cash flows from investing activities
Cash outflow due to reduction in consolidated
entities
-
(17,257,489)
-
-
Purchase of property and equipment
(3,752,431)
(15,081,600)
(42,598,215)
(271,672)
Purchase of intangible assets
(1,030,000)
(19,051,500)
(10,900,000)
(69,516)
Net cash used in investing activities
(4,782,431)
(51,390,589)
(53,498,215)
(341,188)
Cash flows from financing activities
Payment of finance lease liabilities
(39,799,863)
(65,901,913)
(91,110,980)
(581,065)
Proceeds from bank loans
378,000,000
250,000,000
-
-
Repayment of bank loans
(313,451,000)
(338,785,000)
(830,785,000)
(5,298,374)
Repayment of bond payable
(40,000,000)
(40,000,000)
(40,000,000)
(255,102)
Proceeds from issuance of ordinary shares upon
IPO
-
-
658,666,480
4,200,679
Payment of deferred IPO costs
(5,732,730)
(151,749,335)
(133,784,623)
(853,218)
Repurchase of treasury stock
-
(12,265)
-
-
Net cash used in financing activities
(20,983,593)
(346,448,513)
(437,014,123)
(2,787,080)
Effect of exchange rate
-
-
7,743,963
49,387
Net increase (decrease) in cash
652,175,872
(190,727,708)
(14,472,372)
(92,299)
Cash at the beginning of the year
2,077,106,474
2,729,282,346
2,538,554,638
16,189,762
Cash at the end of the year
2,729,282,346
2,538,554,638
2,524,082,266
16,097,463
Supplementary cash flow information
Cash paid for income taxes
10,177,482
236,743,473
144,636,317
922,425
Cash paid for interest expenses
12,358,975
15,522,155
14,846,154
94,682
Non-GAAP Financial Measures and ReconciliationAdjusted INCOME FROM OPERATIONS
For the Fiscal Years Ended
December 31,
2024
2025
2025
JPY
JPY
US$
INCOME FROM OPERATIONS
519,757,261
627,405,815
4,001,313
Plus: listing-related and transformational expenses(a)
24,392,841
64,901,063
413,910
Less: litigation-related reimbursement(b)
(55,935,710)
-
-
Adjusted INCOME FROM OPERATIONS
488,214,392
692,306,878
4,415,223
(a) Represents one-time listing-related and other transformational expenses incurred in connection with our initial
public offering and corporate transformation initiatives in fiscal years 2024 and 2025. These costs were
recognized as expenses in the statement of operations and were not recorded as direct deductions from equity.(b) Litigation-related reimbursement received in fiscal year 2024 from the CEO in connection with a dispute
involving a former director. As this payment represents a non-recurring and unusual item, it has been excluded
for normalization purposes.
View original content:https://www.prnewswire.com/news-releases/leifras-co-ltd-reports-fiscal-year-2025-financial-results-302737368.htmlSOURCE LEIFRAS Co., Ltd.
Original: LEIFRAS Co., Ltd. Reports Fiscal Year 2025 Financial Results
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