LEIFRAS Co., Ltd. Reports Fiscal Year 2025 Financial Results
Rhea-AI Summary
Leifras (Nasdaq: LFS) reported record fiscal 2025 results with revenue JPY11.7B ($74.8M), operating income JPY627.4M ($4.0M), and adjusted operating income JPY692.3M ($4.4M). Sports school revenue rose 7.8% and social business revenue rose 32.8% year-over-year.
Company guidance for 2026 calls for revenue of $82.9M–$95.7M and operating income of $4.5M–$5.4M, assuming no acquisitions or restructuring.
Positive
- Revenue +13.5% YoY to JPY11.7B
- Operating income +20.7% YoY to JPY627.4M
- Adjusted operating income +41.8% YoY to JPY692.3M
- Social business revenue +32.8% YoY to JPY3,168M
- 2026 revenue guidance implies +10.8%–27.9% growth
Negative
- Net income growth modest at +4.7% YoY to JPY438.5M
- Cash and equivalents slight decline to JPY2.52B from JPY2.54B
- Financing cash outflow of JPY437.0M in FY2025
News Market Reaction – LFS
On the day this news was published, LFS declined 9.32%, reflecting a notable negative market reaction. This price movement removed approximately $6M from the company's valuation, bringing the market cap to $57.81M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Dec 18 | Nine-month earnings | Positive | -1.1% | Reported strong 9M 2025 growth and guided full-year revenue and operating income higher. |
| Nov 13 | Earnings call notice | Neutral | -18.1% | Announced scheduling and access details for first-half 2025 earnings conference calls. |
| Oct 30 | Half-year earnings | Positive | +1.4% | Six-month 2025 results with double-digit revenue growth, higher margins, and IPO disclosure. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-related headlines have generally shown solid growth but an average price move of about -5.91%, indicating cautious or skeptical reactions to results.
Recent earnings communications for LEIFRAS have highlighted consistent double-digit revenue growth and expanding social business contributions. The six-month 2025 results showed rising revenue, margins, and net income following the NASDAQ IPO, while nine-month 2025 numbers maintained mid-teens growth and projected full-year revenue of JPY11.6–11.9B and operating income of JPY580.0–696.5M. However, share reactions to these earnings and related calls were often negative or muted, underscoring a pattern where strong fundamentals did not consistently translate into positive short-term price responses ahead of the current full-year 2025 report.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Record-High Revenue and Operating Income, Up
Fiscal Year 2025 Financial Highlights
- Revenue was
JPY11.7 billion ($74.8 million 13.5% fromJPY10.3 billion for fiscal year 2024. - Income from operations was
JPY627.4 million ($4.0 million 20.7% fromJPY519.8 million for fiscal year 2024. - Net income was
JPY438.5 million ($2.8 million 4.7% fromJPY418.6 million for fiscal year 2024. - Adjusted income from operations was
JPY692.3 million ($4.4 million 41.8% fromJPY488.2 million for fiscal year 2024. - Basic and diluted earnings per share was
JPY17.41 ($0.11 JPY16.81 ($0.11 JPY15.78 ($0.10
Fiscal Year 2025 Operational Highlights
Sports School Business
- Number 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 7.8% fromJPY7,944 million for fiscal year 2024.
Social Business
- Number 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 32.8% fromJPY2,385 million for fiscal year 2024.
Management Commentary
Mr. 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
Financial Condition
- As of December 31, 2025, the Company had cash and cash equivalents of
JPY2.52 billion ($16.1 million JPY2.54 billion as of December 31, 2024. - Net cash provided by operating activities was
JPY468.3 million ($3.0 million JPY207.1 million for fiscal year 2024. - Net cash used in investing activities was
JPY53.5 million ($0.3 million JPY51.4 million for fiscal year 2024. - Net cash used in financing activities was
JPY437.0 million ($2.8 million JPY346.4 million for fiscal year 2024.
Financial Guidance
- Revenue is expected to be between
$82.9 million $95.7 million 10.8% to27.9% from$74.8 million - Income from operations is expected to be between
$4.5 million $5.4 million 13.2% to33.9% from$4.0 million
The Guidance is based on the assumption that no business acquisitions, restructuring activities, or legal settlements will take place during the period.
Conference Call Information
The Company will host an English-language conference call at 8:30 am
Dial-in details for the English-language conference call: | ||
Date: | April 14, 2026 | |
Time: | 8:30 am U.S. Eastern Time (9:30 pm Japan Standard Time) | |
International: | 1-412-902-4272 | |
1-888-346-8982 | ||
Conference ID: | Leifras Co., Ltd. | |
Webcast: | https://event.choruscall.com/mediaframe/webcast.html?webcastid=Id5RSCFh | |
Dial-in details for the Japanese-language conference call: | ||
Date: | April 15, 2026 | |
Time: | 3:00 am | |
Pre-registration Link for Dial-in Access: | ||
Please dial in at least 15 minutes before the commencement of the call to ensure timely participation.
For those unable to participate, an audio replay of the conference call will be available from approximately one hour after the end of the live call until April 21, 2026. The dial-in for the replay is 1-855-669-9658 within the United States or 1-412-317-0088 internationally. The replay access code is 6857888.
A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.leifras.co.jp.
Exchange Rate Information
This announcement contains translations of certain Japanese Yen ("JPY") amounts into
About LEIFRAS Co., Ltd.
Headquartered in
For more information, please visit the Company's website: https://ir.leifras.co.jp/.
Non-GAAP Financial Measures
In the Company's annual report on Form 20-F, it discusses key financial measures that are not calculated in accordance with
Non-GAAP Financial Measures and Reconciliation | ||||||||||||
Adjusted INCOME FROM OPERATIONS | ||||||||||||
For the Fiscal Years Ended | ||||||||||||
2024 | 2025 | 2025 | ||||||||||
JPY | JPY | US$ | ||||||||||
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 | ||||||||||||
(b) Litigation-related reimbursement received in fiscal year 2024 from the CEO in connection with a dispute | ||||||||||||
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 Statements
Certain 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
For more information, please contact:
LEIFRAS Co., Ltd.
Investor Relations Department
Email: IR@leifras.co.jp
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
Note: [1] Record high in US-GAAP figures since 2023.
LEIFRAS CO., LTD. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED 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 | 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, | (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 SUBSIDIARIES | ||||||||||||||||
CONSOLIDATED 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 | 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 | ||||||||||||||||
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 SUBSIDIARIES | ||||||||||||||||
CONSOLIDATED 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 | ||||||||||||||||
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 | - | (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 | - | - | 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 Reconciliation | ||||||||||||
Adjusted INCOME FROM OPERATIONS | ||||||||||||
For the Fiscal Years Ended | ||||||||||||
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 | ||||||||||||
(b) Litigation-related reimbursement received in fiscal year 2024 from the CEO in connection with a dispute | ||||||||||||
View original content:https://www.prnewswire.com/news-releases/leifras-co-ltd-reports-fiscal-year-2025-financial-results-302737368.html
SOURCE LEIFRAS Co., Ltd.