, /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 unaudited financial results for the nine months ended September 30, 2025.

, /PRNewswire/ -- LEIFRAS 有限公司（納斯達克：LFS）（“公司” 或 “Leifras”），是一家致力於青少年體育和社區參與的體育與社交企業，今天公佈了截至2025年9月30日的未經審計財務業績。

Financial Highlights for the N i ne Months Ended September 30, 2025

截至2025年9月30日的九個月財務亮點

Revenue was JPY8.6 billion ($57.8 million) for the nine months ended September 30, 2025, an increase of 15.3% from JPY7.4 billion for the same period last year.
Gross profit was JPY2.4 billion ($16.3 million) for the nine months ended September 30, 2025, an increase of 18.1% from JPY2.0 billion for the same period last year.
Gross margin was 28.2% for the nine months ended September 30, 2025, which increased from 27.5% for the same period last year.
Net income was JPY226.7 million ($1.5 million) for the nine months ended September 30, 2025, an increase of 0.7% from JPY225.1 million for the same period last year.
Basic and diluted earnings per share was JPY9.1 ($0.06) for the nine months ended September 30, 2025, compared to basic earnings per share of JPY9.0 and diluted earnings per share of JPY8.3 for the same period last year.

收入為 86 億日元（5780 萬美元），較去年同期的 74 億日元增長 15.3%。
毛利潤 為 24 億日元（1630 萬美元），較去年同期的 20 億日元增長 18.1%。
毛利率 為 28.2%，較去年同期的 27.5% 有所上升。
淨收入 為 2.267 億日元（150 萬美元），較去年同期的 2.251 億日元增長 0.7%。
基本和稀釋每股收益 為 9.1 日元（0.06 美元），相比之下，去年同期的基本每股收益為 9.0 日元，稀釋每股收益為 8.3 日元。

Operational Highlights for the N i ne Months Ended September 30, 2025

截至2025年9月30日的九個月運營亮點

Number of members in the sports school business was 71,529 for the nine months ended September 30, 2025, an increase of 2.3% from 69,924 for the same period last year.
Average membership duration in the sports school business was 1.84 years for the nine months ended September 30, 2025, an increase of 1.1% from 1.82 years for the same period last year.
Revenue per capita in the sport school business, which we define as the sales revenue of the sports school business divided by the number of employees involved in that business, was JPY9.6 million ($0.06 million) for the nine months ended September 30, 2025, an increase of 6.2% from JPY9.0 million for the same period last year.
Number of schools served under the social business segment was 360 for the nine months ended September 30, 2025, an increase of 53.2% from 235 for the same period last year.
Revenue per capita in the social business, which we define as the sales revenue of the social business divided by the number of employees involved in that business, was JPY7.6 million ($0.05 million) for the nine months ended September 30, 2025, an increase of 18.6% from JPY6.4 million for the same period last year.

體育學校業務的會員人數 為 71,529 人，較去年同期的 69,924 人增長 2.3%。
體育學校業務的平均會員 時長為 1.84 年，較去年同期的 1.82 年增長 1.1%。
體育學校業務的人均收入，我們定義為體育學校業務的銷售收入除以參與該業務的員工人數，為 960 萬日元（6 萬美元），較去年同期的 900 萬日元增長 6.2%。
社會業務部門服務的學校數量 為 360 所，較去年同期的 235 所增長 53.2%。
社會業務的人均收入，我們定義為社會業務的銷售收入除以參與該業務的員工人數，為 760 萬日元（5 萬美元），較去年同期的 640 萬日元增長 18.6%。

Mr. Kiyotaka Ito, the Representative Director and Chief Executive Officer of Leifras, commented, "We delivered solid financial results in the first nine months of fiscal year 2025, with meaningful growth across our key financial and operational metrics. Revenue increased 15.3% and net income grew 0.7% from the same period last year. By segment, sports school business achieved revenue growth of 8.9% and social business revenue increased by 36.4% year over year. Our performance shows continued strength of our sports school business and expanding demand for our social business. Notably, revenue per capita in our social business rose by 18.6% year over year, highlighting the increasing value and impact of our community-based services. Looking ahead, we see meaningful opportunities in Japan's shifting policy landscape. The government's ongoing Club Activity Reform, which focuses on shifting school-based club activity management to regional and private organizations, is expected to create an important long-term growth pathway for Leifras. We recently secured a new contract with the City of Nagoya, Aichi Prefecture, to manage facilities at municipal junior high schools in Nagoya, marking an important step in our expansion strategy. We intend to actively pursue additional opportunities as municipalities seek specialized partners to deliver high-quality sports and community programs. In the future, we remain committed to cultivating the non-cognitive skills of children, strengthening community well-being, enhancing our service offerings, and delivering sustainable value to our shareholders and society."

Leifras 的代表董事兼首席執行官伊藤清高先生評論道：“在 2025 財年的前九個月，我們交出了穩健的財務業績，關鍵財務和運營指標均實現了顯著增長。收入增長 15.3%，淨收入較去年同期增長 0.7%。按部門劃分，體育學校業務實現了 8.9% 的收入增長，社會業務收入同比增長 36.4%。我們的表現顯示出體育學校業務的持續強勁和社會業務需求的擴大。值得注意的是，社會業務的人均收入同比增長 18.6%，突顯了我們基於社區的服務的價值和影響力。展望未來，我們看到日本政策環境變化帶來的重要機遇。政府正在進行的俱樂部活動改革，重點將學校的俱樂部活動管理轉移到地區和私營組織，預計將為 Leifras 創造重要的長期增長路徑。我們最近與愛知縣名古屋市簽署了一項新合同，負責管理名古屋市的市立初中設施，這標誌着我們擴展戰略的重要一步。我們打算積極尋求更多機會，因為各市正在尋找專業合作伙伴來提供高質量的體育和社區項目。未來，我們將繼續致力於培養兒童的非認知技能，加強社區福祉，提升我們的服務產品，併為我們的股東和社會提供可持續的價值。”

Financial Results for the Nine Months Ended September 30, 2025

截至2025年9月30日的九個月財務業績

Revenue

收入

Total revenue was JPY8.6 billion ($57.8 million) for the nine months ended September 30, 2025, an increase of 15.3% from JPY7.4 billion for the same period last year.

截至2025年9月30日的九個月總收入為 86 億日元（5780 萬美元），較去年同期的 74 億日元增長 15.3%。

Sports school business revenue was JPY6.2 billion ($41.9 million) for the nine months ended September 30, 2025, an increase of 8.9% from JPY5.7 billion for the same period last year. The increase in revenue was mostly driven by: (i) an increase in the number of members by 1,605, from 69,924 as of September 30, 2024 to 71,529 as of September 30, 2025, resulting in an increase in revenue of JPY315.7 million ($2.1 million) and (ii) an increase in the number of customers who joined events hosted by the Company from 136,695 for the nine months ended September 30, 2024 to 142,843 for the nine months ended September 30, 2025, leading to an increase in the sports school business revenue by JPY112.6 million ($0.8 million).

體育學校業務收入為 62 億日元（4190 萬美元），較去年同期的 57 億日元增長 8.9%。收入增長主要受以下因素驅動：（i）會員人數增加 1,605 人，從2024年9月30日的 69,924 人增加到2025年9月30日的 71,529 人，導致收入增加 3.157 億日元（210 萬美元）；（ii）參加公司舉辦的活動的客户人數從2024年9月30日的 136,695 人增加到2025年9月30日的 142,843 人，導致體育學校業務收入增加 1.126 億日元（80 萬美元）。

Social business revenue was JPY2.4 billion ($15.9 million) for the nine months ended September 30, 2025, an increase of 36.4% from JPY1.7 billion for the same period last year. The increase in revenue was mostly driven by: (i) an increase in the number of schools by 125, from 235 as of September 30, 2024 to 360 as of September 30, 2025, resulting in an increase in revenue of JPY505.1 million ($3.4 million), and (ii) an increase in after-school daycare service revenue by JPY86.1 million ($0.6 million).

社會業務收入為 24 億日元（1590 萬美元），較去年同期的 17 億日元增長 36.4%。收入增長主要受以下因素驅動：（i）學校數量增加 125 所，從2024年9月30日的 235 所增加到2025年9月30日的 360 所，導致收入增加 5.051 億日元（340 萬美元）；（ii）課後託管服務收入增加 8610 萬日元（60 萬美元）。

Cost of Revenue

收入成本

Cost of revenue was JPY6.1 billion ($41.5 million) for the nine months ended September 30, 2025, an increase of 14.2% from JPY5.4 billion for the same period last year.

截至2025年9月30日的九個月收入成本為 61 億日元（4150 萬美元），較去年同期的 54 億日元增長 14.2%。

Gross Profit

毛利潤

Gross profit was JPY2.4 billion ($16.3 million) for the nine months ended September 30, 2025, an increase of 18.1% from JPY2.0 billion for the same period last year.

截至2025年9月30日的九個月，毛利潤為 24 億日元（1630 萬美元），比去年同期的 20 億日元增長了 18.1%。

Gross margin was 28.2% for the nine months ended September 30, 2025, which increased from 27.5% for the same period last year.

截至2025年9月30日的九個月，毛利率為 28.2%，較去年同期的 27.5% 有所上升。

Selling, General, and Administrative Expenses

銷售、一般和行政費用

Selling, general, and administrative expenses were JPY2.1 billion ($13.9 million) for the nine months ended September 30, 2025, an increase of 14.0% from JPY1.8 billion for the same period last year. The increase was attributed to (i) the increase in salaries and welfare expenses of JPY137.5 million ($0.9 million) due to business expansion as well as an increase in headquarters personnel in preparation for the Company's initial public offering ("IPO"), (ii) the increase in promotion fees of JPY8.2 million ($0.06 million) due to business expansion, (iii) the increase in office rental fees of JPY14.1 million ($0.1 million) due to business expansion, (iv) the increase in system maintenance fee expenses of JPY17.3 million ($0.1 million) incurred due to the increase in the number of employees, and (v) the increase in recruitment fees of JPY53.8 million ($0.4 million) due to business expansion as well as an increase in headquarters personnel in preparation for the Company's IPO.

截至2025年9月30日的九個月，銷售、一般和行政費用為 21 億日元（1390 萬美元），比去年同期的 18 億日元增長了 14.0%。增長的原因包括：(i) 由於業務擴展，薪資和福利費用增加了 1.375 億日元（90 萬美元），以及為公司首次公開募股（"IPO"）準備而增加的總部人員；(ii) 由於業務擴展，推廣費用增加了 820 萬日元（6 萬美元）；(iii) 由於業務擴展，辦公室租金費用增加了 1410 萬日元（10 萬美元）；(iv) 由於員工人數增加，系統維護費用增加了 1730 萬日元（10 萬美元）；(v) 由於業務擴展以及為公司 IPO 準備而增加的總部人員，招聘費用增加了 5380 萬日元（40 萬美元）。

Other Income (Expenses), Net

其他收入（費用），淨額

Other expenses, net were JPY1.9 million ($0.01 million) for the nine months ended September 30, 2025, compared to other income, net of JPY28.7 million for the same period last year. The decrease was attributed to: (i) net franchise income collected (returned) of JPY27.4 million ($0.02 million), which was the payments refunded to the franchisees in connection with the transfer of certain business rights, (ii) an eviction compensation of JPY5.5 million ($0.04 million) received in connection with the vacating of a leased building. Interest expenses, net were JPY9.7 million ($0.07 million) for the nine months ended September 30, 2025, a decrease of 21.8% from JPY12.4 million for the same period last year.

截至2025年9月30日的九個月，其他費用淨額為 190 萬日元（1 萬美元），而去年同期的其他收入淨額為 2870 萬日元。減少的原因包括：(i) 收取（退還）特許經營淨收入 2740 萬日元（2 萬美元），這是與某些商業權利轉讓相關的支付退款；(ii) 與租賃建築物的騰退相關的賠償金 550 萬日元（4 萬美元）。截至2025年9月30日的九個月，淨利息費用為 970 萬日元（7 萬美元），比去年同期的 1240 萬日元減少了 21.8%。

Net Income

淨收入

Net income was JPY226.7 million ($1.5 million) for the nine months ended September 30, 2025, an increase of 0.7% from JPY225.1 million for the same period last year.

截至2025年9月30日的九個月，淨收入為 2.267 億日元（150 萬美元），比去年同期的 2.251 億日元增長了 0.7%。

Basic and Diluted Earnings per Share

基本和稀釋每股收益

Basic earnings per share was JPY9.10 ($0.06) for the nine months ended September 30, 2025, compared to JPY9.04 for the same period last year.

截至2025年9月30日的九個月，基本每股收益為 9.10 日元（0.06 美元），而去年同期為 9.04 日元。

Diluted earnings per share was JPY9.10 ($0.06) for the nine months ended September 30, 2025, compared to JPY8.32 for the same period last year.

截至2025年9月30日的九個月，稀釋每股收益為 9.10 日元（0.06 美元），而去年同期為 8.32 日元。

Financial Condition

財務狀況

As of September 30, 2025, the Company had cash of JPY2.4 billion ($16.5 million), compared to JPY2.5 billion as of December 31, 2024.

截至2025年9月30日，公司現金為 24 億日元（1650 萬美元），而截至2024年12月31日為 25 億日元。

Net cash provided by operating activities was JPY326.7 million ($2.2 million) for the nine months ended September 30, 2025, compared to net cash used in operating activities of JPY105.4 million for the same period last year.

截至2025年9月30日的九個月，經營活動提供的淨現金為 3.267 億日元（220 萬美元），而去年同期的經營活動使用的淨現金為 1.054 億日元。

Net cash used in investing activities was JPY48.5 million ($0.3 million) for the nine months ended September 30, 2025, compared to JPY45.7 million for the same period last year.

截至2025年9月30日的九個月，投資活動使用的淨現金為 4850 萬日元（30 萬美元），而去年同期為 4570 萬日元。

Net cash used in financing activities was JPY380.1 million ($2.6 million) for the nine months ended September 30, 2025, compared to JPY224.1 million for the same period last year.

截至2025年9月30日的九個月，融資活動使用的淨現金為 3.801 億日元（260 萬美元），而去年同期為 2.241 億日元。

Financial Guidance

財務指導

The Company is projecting total revenue to be between JPY11.6 billion and JPY11.9 billion ($78.1 million and $80.5 million) for the fiscal year ending December 31, 2025, an increase of approximately 11.9% to 15.3% from JPY10.3 billion ($69.8 million) for the fiscal year ended December 31, 2024.

公司預計截至2025年12月31日的財年總收入將在 116 億日元至 119 億日元（7810 萬美元至 8050 萬美元）之間，比截至2024年12月31日的財年 10.3 億日元（6980 萬美元）增長約 11.9% 至 15.3%。

Income from operations is projected to be between JPY580.0 million and JPY696.5 million ($3.9 million and $4.7 million) for the fiscal year ending December 31, 2025, an increase of 11.6% to 34.0% from JPY519.8 million ($3.5 million) for the fiscal year ended December 31, 2024.

預計截至2025年12月31日的財年運營收入將在 5.8 億日元至 6.965 億日元（390 萬美元至 470 萬美元）之間，比截至2024年12月31日的財年 5.198 億日元（350 萬美元）增長 11.6% 至 34.0%。

These projections are based on the assumption that no business acquisitions, restructuring activities, or legal settlements will take place during the period.

這些預測是基於假設在此期間不會發生任何業務收購、重組活動或法律和解。

Exchange Rate Information

匯率信息

This 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 JPY147.97 = $1.00, the exchange rate on September 30, 2025 set forth in the H.10 statistical release of the United States Federal Reserve Board.

本公告包含將某些日元（"JPY"）金額轉換為美元（"USD"或"$") 的翻譯，以方便讀者。日元轉換為美元的匯率為 147.97 日元 = 1.00 美元，這是2025年9月30日美國聯邦儲備委員會 H.10 統計發佈的匯率。

About LEIFRAS Co., Ltd.

關於 LEIFRAS 有限公司

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, 2024, 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/.

Leifras 總部位於東京，是一家專注於青少年體育和社區參與的體育與社會企業。公司主要提供與兒童體育學校和體育活動的組織和運營相關的服務。截至2024年12月31日，Leifras 被東京商工研究所認定為日本最大的兒童體育學校運營商之一，按會員和設施數量計算。公司在體育教育方面的理念強調非認知技能的發展，遵循"認可、讚美、鼓勵和激勵"的教學原則。整合身心發展的整體方法使 Leifras 在行業中脱穎而出。基於在體育教育方面的深厚經驗和專業知識，Leifras 還運營着強大的社會商業部門，派遣體育教練以滿足各種社區需求，旨在促進不同人羣的身體健康、社會包容和社區福祉。有關更多信息，請訪問公司網站：https://ir.leifras.co.jp/。

Forward-Looking Statements

前瞻性聲明

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 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.

本公告中的某些聲明為前瞻性聲明。這些前瞻性聲明涉及已知和未知的風險和不確定性，並基於公司對未來事件的當前預期和預測，公司認為這些事件可能影響其財務狀況、經營成果、商業戰略和財務需求。投資者可以通過使用諸如 “近似”、“相信”、“希望”、“期待”、“預期”、“估計”、“計劃”、“打算”、“將”、“會”、“應該”、“可能”、“或其他類似表達” 來找到許多（但不是全部）這樣的聲明。公司沒有義務公開更新或修訂任何前瞻性聲明，以反映後續發生的事件或情況，或其預期的變化，除非法律要求。這些聲明受到不確定性和風險的影響，包括但不限於與市場條件相關的不確定性，以及在向美國證券交易委員會（“SEC”）提交的註冊聲明的 “風險因素” 部分中討論的其他因素。儘管公司相信這些前瞻性聲明中表達的預期是合理的，但無法保證這些預期會被證明是正確的，公司提醒投資者，實際結果可能與預期結果有重大差異，並鼓勵投資者在註冊聲明和其他向 SEC 提交的文件中審查可能影響其未來結果的其他因素。其他因素在公司向 SEC 提交的文件中進行了討論，這些文件可在 www.sec.gov 上查閲。

For more information, please contact:

如需更多信息，請聯繫：

LEIFRAS Co., Ltd. Investor Relations Department

LEIFRAS 有限公司 投資者關係部

Email: IR@leifras.co.jp

電子郵件：IR@leifras.co.jp

Ascent Investor Relations LLC Tina Xiao

Phone: +1-646-932-7242

電話：+1-646-932-7242

Email: investors@ascent-ir.com

電子郵件：investors@ascent-ir.com


LEIFRAS CO., LTD. AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS


	December 31,		September 30,		September 30,
	2024		2025		2025
	JPY		JPY		US$
			(Unaudited)		(Unaudited)
ASSETS
CURRENT ASSETS
Cash		2,538,554,638		2,436,675,605		16,467,362
Accounts receivable, net		518,398,551		555,775,583		3,756,002
Short-term investments		4,935,000		5,075,000		34,297
Inventories, net		24,468,188		20,757,063		140,279
Prepaid expenses		182,278,232		201,888,793		1,364,390
Other current assets		34,381,843		57,886,907		391,207
TOTAL CURRENT ASSETS		3,303,016,452		3,278,058,951		22,153,537

NON-CURRENT ASSETS
Property and equipment, net		53,805,279		99,293,143		671,035
Finance lease right-of-use assets		208,611,550		228,794,098		1,546,219
Operating lease right-of-use assets		337,330,750		513,349,897		3,469,284
Intangible assets, net		39,250,078		27,980,475		189,096
Goodwill		27,999,994		27,999,994		189,228
Deferred tax assets, net		214,671,578		189,283,332		1,279,201
Deferred initial public offering ("IPO") costs		157,482,065		254,764,117		1,721,728
Long-term deposits		150,407,276		150,210,192		1,015,140
Other non-current assets		3,090,205		9,784,796		66,127
TOTAL NON-CURRENT ASSETS		1,192,648,775		1,501,460,044		10,147,058
TOTAL ASSETS		4,495,665,227		4,779,518,995		32,300,595

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term loans		700,000,000		700,000,000		4,730,689
Current portion of long-term loans		230,785,000		169,252,000		1,143,826
Bond payable, current		40,000,000		40,000,000		270,325
Accounts payable		168,281,568		114,243,578		772,073
Accrued liabilities		1,109,740,581		1,184,636,104		8,005,921
Income tax payable		75,374,800		3,301,800		22,314
Contract liabilities, current		147,628,310		267,364,483		1,806,883
Amount due to a director		1,000,000		-		-
Finance lease liabilities, current		71,681,545		83,549,523		564,638
Operating lease liabilities, current		110,889,134		132,923,377		898,313
Other current liabilities		195,952,191		156,907,705		1,060,403
TOTAL CURRENT LIABILITIES		2,851,333,129		2,852,178,570		19,275,385

NON-CURRENT LIABILITIES
Long-term loans, net of current portion		175,452,000		38,568,000		260,648
Bond payable, non-current		56,807,020		37,833,335		255,682
Contract liabilities, non-current		10,615,635		14,507,411		98,043
Finance lease liabilities, non-current		140,333,247		143,881,183		972,367
Operating lease liabilities, non-current		207,353,977		364,551,378		2,463,684
Assets retirement obligations		12,914,758		30,671,626		207,283
TOTAL NON-CURRENT LIABILITIES		603,476,637		630,012,933		4,257,707
TOTAL LIABILITIES		3,454,809,766		3,482,191,503		23,533,092

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY
Ordinary shares		80,500,000		80,500,000		544,029
Additional paid-in capital		748,840,080		778,624,844		5,262,045
Treasury shares		(100,012,265)		(100,012,265)		(675,896)
Retained earnings		311,527,646		538,214,913		3,637,325
TOTAL SHAREHOLDERS' EQUITY		1,040,855,461		1,297,327,492		8,767,503
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		4,495,665,227		4,779,518,995		32,300,595


LEIFRAS CO., LTD. 及其子公司
未經審計的中期簡明合併資產負債表


	2024年12月31日		2025年9月30日		2025年9月30日
	日元		日元		美元
			（未經審計）		（未經審計）
資產
流動資產
現金		2,538,554,638		2,436,675,605		16,467,362
應收賬款，淨額		518,398,551		555,775,583		3,756,002
短期投資		4,935,000		5,075,000		34,297
存貨，淨額		24,468,188		20,757,063		140,279
預付費用		182,278,232		201,888,793		1,364,390
其他流動資產		34,381,843		57,886,907		391,207
流動資產總計		3,303,016,452		3,278,058,951		22,153,537

非流動資產
房產和設備，淨額		53,805,279		99,293,143		671,035
融資租賃使用權資產		208,611,550		228,794,098		1,546,219
操作租賃使用權資產		337,330,750		513,349,897		3,469,284
無形資產，淨額		39,250,078		27,980,475		189,096
商譽		27,999,994		27,999,994		189,228
遞延所得税資產，淨額		214,671,578		189,283,332		1,279,201
遞延首次公開募股（"IPO"）費用		157,482,065		254,764,117		1,721,728
長期存款		150,407,276		150,210,192		1,015,140
其他非流動資產		3,090,205		9,784,796		66,127
非流動資產總計		1,192,648,775		1,501,460,044		10,147,058
資產總計		4,495,665,227		4,779,518,995		32,300,595

負債和股東權益
流動負債
短期貸款		700,000,000		700,000,000		4,730,689
長期貸款的流動部分		230,785,000		169,252,000		1,143,826
應付債券，流動		40,000,000		40,000,000		270,325
應付賬款		168,281,568		114,243,578		772,073
應計負債		1,109,740,581		1,184,636,104		8,005,921
應付所得税		75,374,800		3,301,800		22,314
合同負債，流動		147,628,310		267,364,483		1,806,883
應付董事款項		1,000,000		-		-
融資租賃負債，流動		71,681,545		83,549,523		564,638
操作租賃負債，流動		110,889,134		132,923,377		898,313
其他流動負債		195,952,191		156,907,705		1,060,403
流動負債總計		2,851,333,129		2,852,178,570		19,275,385

非流動負債
長期貸款，扣除流動部分		175,452,000		38,568,000		260,648
應付債券，非流動		56,807,020		37,833,335		255,682
合同負債，非流動		10,615,635		14,507,411		98,043
融資租賃負債，非流動		140,333,247		143,881,183		972,367
操作租賃負債，非流動		207,353,977		364,551,378		2,463,684
資產退休義務		12,914,758		30,671,626		207,283
非流動負債總計		603,476,637		630,012,933		4,257,707
負債總計		3,454,809,766		3,482,191,503		23,533,092

承諾和或有事項

股東權益
普通股		80,500,000		80,500,000		544,029
額外實收資本		748,840,080		778,624,844		5,262,045
庫存股		(100,012,265)		(100,012,265)		(675,896)
留存收益		311,527,646		538,214,913		3,637,325
股東權益總計		1,040,855,461		1,297,327,492		8,767,503
負債和股東權益總計		4,495,665,227		4,779,518,995		32,300,595


LEIFRAS CO., LTD. AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	For the nine months ended September 30
	2024		2025		2025
	JPY		JPY		US$
NET REVENUE		7,419,460,643		8,556,096,390		57,823,183
Cost of revenue		(5,378,876,612)		(6,145,159,916)		(41,529,769)
GROSS PROFIT		2,040,584,031		2,410,936,474		16,293,414
Selling, general, and administrative expenses		(1,802,047,253)		(2,055,180,818)		(13,889,172)
INCOME FROM OPERATIONS		238,536,778		355,755,656		2,404,242

OTHER INCOME (EXPENSE)
Interest income		325,182		3,801,610		25,691
Interest expense		(12,751,685)		(13,514,164)		(91,330)
Grant income		14,205,788		14,902,919		100,716
Unrealized (loss) gain on short-term investment		(168,000)		140,000		946
Loss on disposal of long-lived assets		-		(168,973)		(1,142)
Loss on disposal of a subsidiary		(753,900)		-		-
Other income (expense), net		15,438,598		(16,773,644)		(113,358)
Total other income (expense), net		16,295,983		(11,612,252)		(78,477)
INCOME BEFORE INCOME TAX PROVISION		254,832,761		344,143,404		2,325,765

PROVISION FOR INCOME TAXES
Current		(69,425,173)		(92,067,891)		(622,206)
Deferred		39,664,246		(25,388,246)		(171,577)
Total provision for income taxes		(29,760,927)		(117,456,137)		(793,783)
NET INCOME		225,071,834		226,687,267		1,531,982

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES
Basic		24,910,660		24,910,619		24,910,619
Diluted		27,066,715		24,913,619		24,913,619
EARNINGS PER SHARE
Basic		9.04		9.10		0.06
Diluted		8.32		9.10		0.06


LEIFRAS CO., LTD. 及其子公司
未經審計的中期合併損益表

	截至 9 月 30 日的九個月
	2024		2025		2025
	日元		日元		美元
淨收入		7,419,460,643		8,556,096,390		57,823,183
收入成本		(5,378,876,612)		(6,145,159,916)		(41,529,769)
毛利潤		2,040,584,031		2,410,936,474		16,293,414
銷售、一般和管理費用		(1,802,047,253)		(2,055,180,818)		(13,889,172)
營業收入		238,536,778		355,755,656		2,404,242

其他收入（費用）
利息收入		325,182		3,801,610		25,691
利息費用		(12,751,685)		(13,514,164)		(91,330)
補助收入		14,205,788		14,902,919		100,716
短期投資未實現（損失）收益		(168,000)		140,000		946
長期資產處置損失		-		(168,973)		(1,142)
子公司處置損失		(753,900)		-		-
其他收入（費用），淨額		15,438,598		(16,773,644)		(113,358)
總其他收入（費用），淨額		16,295,983		(11,612,252)		(78,477)
税前收入		254,832,761		344,143,404		2,325,765

所得税準備
現期		(69,425,173)		(92,067,891)		(622,206)
遞延		39,664,246		(25,388,246)		(171,577)
所得税總準備		(29,760,927)		(117,456,137)		(793,783)
淨收入		225,071,834		226,687,267		1,531,982

普通股加權平均數
基本		24,910,660		24,910,619		24,910,619
稀釋		27,066,715		24,913,619		24,913,619
每股收益
基本		9.04		9.10		0.06
稀釋		8.32		9.10		0.06


LEIFRAS CO., LTD. AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the nine months ended September 30,
	2024		2025		2025
	JPY		JPY		US$
Cash flows from operating activities
Net income		225,071,834		226,687,267		1,531,982
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization expense		90,057,762		96,233,315		650,357
Loss on disposal of a subsidiary		753,900		-		-
Provision for expected credit loss		2,771,782		9,208,096		62,229
Loss on disposal of property and equipment		-		168,973		1,142
Accounts receivable written off as uncollectible		-		28,558		193
Provision for inventory impairment		3,403,261		424,180		2,867
Unrealized loss (gain) on short-term investment		168,000		(140,000)		(946)
Other non-cash expenses (income)		1,100,148		29,173,060		197,155
Deferred tax expense (benefit)		(39,664,246)		25,388,246		171,577
Changes in operating assets and liabilities
Accounts receivable, net		(1,051,687)		(46,613,686)		(315,021)
Inventories		(13,808,125)		3,286,945		22,214
Prepaid expenses		(105,900,505)		(19,854,842)		(134,182)
Long-term deposits		(6,998,055)		197,084		1,332
Amount due from a director		33,577,065		-		-
Other current assets		(25,969,080)		(23,505,064)		(158,850)
Other non-current assets		(10,722,988)		(6,694,591)		(45,243)
Accounts payable		(61,359,477)		(54,037,990)		(365,196)
Accrued liabilities		(204,167,728)		74,895,523		506,153
Contract liabilities		121,711,898		123,627,949		835,493
Operating lease liabilities		(400,151)		3,212,497		21,710
Income tax payable		(149,952,500)		(72,073,000)		(487,078)
Amount due to a director		-		(1,000,000)		(6,758)
Other current liabilities		36,020,082		(41,875,805)		(283,002)
Net cash (used in) provided by operating activities		(105,358,810)		326,736,715		2,208,128

Cash flows from investing activities
Cash outflow due to reduction in consolidated entities		(17,257,489)		-		-
Purchase of property and equipment		(11,926,248)		(42,598,215)		(287,884)
Purchase of intangible assets		(16,521,500)		(5,880,000)		(39,738)
Net cash used in investing activities		(45,705,237)		(48,478,215)		(327,622)

Cash flows from financing activities
Payment of finance lease liabilities		(43,259,590)		(64,438,481)		(435,483)
Proceeds from bank loans		250,000,000		-		-
Repayment of bank loans		(280,815,000)		(198,417,000)		(1,340,927)
Repayment of bond payable		(20,000,000)		(20,000,000)		(135,163)
Payment of deferred IPO costs		(129,983,403)		(97,282,052)		(657,445)
Net cash used in financing activities		(224,057,993)		(380,137,533)		(2,569,018)

Net decrease in cash		(375,122,040)		(101,879,033)		(688,512)
Cash at the beginning of period		2,729,282,346		2,538,554,638		17,155,874
Cash at the end of the period end		2,354,160,306		2,436,675,605		16,467,362

Supplementary cash flow information
Cash paid for income taxes		202,070,573		115,154,307		778,227
Cash paid for interest expenses		11,651,537		12,325,868		83,300


LEIFRAS 有限公司及其子公司
未經審計的中期合併現金流量表

	截至 9 月 30 日的九個月
	2024		2025		2025
	日元		日元		美元
經營活動產生的現金流
淨收入		225,071,834		226,687,267		1,531,982
調整淨收入以對賬經營活動提供的淨現金
折舊和攤銷費用		90,057,762		96,233,315		650,357
子公司處置損失		753,900		-		-
預期信用損失準備		2,771,782		9,208,096		62,229
財產和設備處置損失		-		168,973		1,142
應收賬款核銷		-		28,558		193
存貨減值準備		3,403,261		424,180		2,867
短期投資未實現損失（收益）		168,000		(140,000)		(946)
其他非現金費用（收益）		1,100,148		29,173,060		197,155
遞延所得税費用（收益）		(39,664,246)		25,388,246		171,577
經營資產和負債的變動
應收賬款，淨額		(1,051,687)		(46,613,686)		(315,021)
存貨		(13,808,125)		3,286,945		22,214
預付費用		(105,900,505)		(19,854,842)		(134,182)
長期存款		(6,998,055)		197,084		1,332
應收董事款項		33,577,065		-		-
其他流動資產		(25,969,080)		(23,505,064)		(158,850)
其他非流動資產		(10,722,988)		(6,694,591)		(45,243)
應付賬款		(61,359,477)		(54,037,990)		(365,196)
應計負債		(204,167,728)		74,895,523		506,153
合同負債		121,711,898		123,627,949		835,493
經營租賃負債		(400,151)		3,212,497		21,710
應付所得税		(149,952,500)		(72,073,000)		(487,078)
應付董事款項		-		(1,000,000)		(6,758)
其他流動負債		36,020,082		(41,875,805)		(283,002)
淨現金（使用）經營活動提供的現金		(105,358,810)		326,736,715		2,208,128

投資活動產生的現金流
由於合併實體減少而產生的現金流出		(17,257,489)		-		-
購買財產和設備		(11,926,248)		(42,598,215)		(287,884)
購買無形資產		(16,521,500)		(5,880,000)		(39,738)
投資活動使用的淨現金		(45,705,237)		(48,478,215)		(327,622)

融資活動產生的現金流
融資租賃負債支付		(43,259,590)		(64,438,481)		(435,483)
銀行貸款收入		250,000,000		-		-
銀行貸款償還		(280,815,000)		(198,417,000)		(1,340,927)
債券償還		(20,000,000)		(20,000,000)		(135,163)
遞延 IPO 成本支付		(129,983,403)		(97,282,052)		(657,445)
融資活動使用的淨現金		(224,057,993)		(380,137,533)		(2,569,018)

現金淨減少		(375,122,040)		(101,879,033)		(688,512)
期初現金		2,729,282,346		2,538,554,638		17,155,874
期末現金		2,354,160,306		2,436,675,605		16,467,362

補充現金流信息
支付的所得税		202,070,573		115,154,307		778,227
支付的利息費用		11,651,537		12,325,868		83,300

SOURCE LEIFRAS Co., Ltd.

來源 LEIFRAS 有限公司

Leifras 有限公司公佈截至2025年9月30日的九個月財務業績 | LFS 股票新聞