The Infant Child Enrichment Services (ICES) Board of Directors have appointed Paula Gaiser to serve as executive director.
Gaiser will replace Chris Mackenzie, who will retire after 23 years with the agency.
EAU CLAIRE, Wis. (VISIT EAU CLAIRE PRESS RELEASE) – Visit Eau Claire, in partnership with the Sonnentag Center, has secured a major national sporting event for 2026, bringing the Pylon 7on7 Flag Football Tournament to the Sonnentag Field House on March 14–15, 2026.
Pylon 7on7 is a premier traveling flag football tournament that attracts elite high school athletes from across the country. The Eau Claire stop is expected to welcome more than 30 teams and over 1,000 athletes, coaches, families, and spectators, generating direct economic impact for the community.
While Pylon 7on7 features high-level flag football competition, the event is widely recognized as a critical exposure platform for student-athletes pursuing collegiate opportunities. Over the past two decades, Pylon has helped produce over three thousand Division I college commits and over 300 NFL alumni, establishing itself as a proven pathway for athletic development, competition, and visibility.
“We’re extremely excited to welcome Pylon 7on7 to Eau Claire,” said Lucas Connolly, Sports Relationship Manager for Visit Eau Claire. “This event brings elite competition to our community and provides young athletes with a platform to compete, be seen, and develop, while highlighting the Sonnentag Center as a top-tier venue for national sporting events.”
Scheduled between Pylon 7on7 events in Philadelphia and Los Angeles, Eau Claire’s inclusion reflects the growing reputation of the region as an attractive host for large-scale sporting events.
“This tournament is another example of how Eau Claire continues to grow as a destination for youth sports, and we are excited to partner with Visit Eau Claire to welcome Pylon 7on7 Football and the many athletes, families, and visitors who will experience our community,” said Steve Kirk, Interim General Manager of the Sonnentag Center.
The event was secured through a collaborative effort between Visit Eau Claire’s sales team and the Sonnentag Center. This partnership reinforces a shared commitment to attracting impactful sporting events that drive visitation, showcase local facilities, and elevate Eau Claire’s profile on a national stage.
Copyright 2025 WEAU. All rights reserved.
With Matthew Knight Arena packed with school kids for a midweek matinee, the viral “6-7” trend created a moment of joyous jubilation late in the third quarter when Jacobs completed a three-point play for the Ducks’ 67th point, on the way to an 85-59 win over Portland. After making the free throw, Jacobs backpedaled down the court making the ubiquitous hand gesture associated with “6-7,” as did hundreds of kids in the arena.
“I don’t know why it’s a thing but it is, and the kids love it,” said Jacobs, who passed up a three-pointer that would have gotten the Ducks to 67 points, instead driving to the hoop and scoring while absorbing contact. “I didn’t know that it was the point to get six-seven. And then they fouled me and I realized, you have to make a free throw. So it was kind of funny.”
Jacobs finished the game with 21 points and 10 rebounds for her second straight double-double, and Katie Fiso finished one rebound shy of a triple-double, tallying 10 points, 11 assists and nine boards. Amina Muhammad added 12 points, while Avary Cain and Sarah Rambus added 11 each.

And the Ducks teamed up to create a core memory for the kids in attendance, peaking with the free throw by Jacobs for the 67th point of the game. UO coach Kelly Graves immediately called timeout, allowing for an extended celebration by the young fans in the stands.
“I just think it’s important to have a game like this for the kids,” Graves said. “That’s a memory that they had today. It was a fun, fun atmosphere. They got to be around their friends, and they were exposed to our basketball team. And you never know what kind of impact it makes.”
The UO women mostly executed with aplomb in the atmosphere, shooting 44.9 percent for the game and committing just 14 turnovers while forcing 24.
“I feel like when we’re having fun, we’re playing the best type of basketball,” Fiso said. “I keep mentioning it — like, we compete in practice, and that’s where we get our sense of joy. We know there’s a fine line, when to be serious and then when to be goofy. I feel like that’s gonna take us far, because we know when to switch that.”

How It Happened: The Ducks took control early by scoring the first seven points of the game, though the start seemed a bit uneven given that the UO women only had three field goals over the first seven minutes of the day. Then Fiso hit a three-pointer and Cain followed with another, and Oregon took a 19-7 lead into the second quarter.
It was 22-9 in the second when the Ducks put together a 9-0 run, with all nine points scored by Muhammad and Cain. Muhammad ended up with 10 points in the period, helping the Ducks take a 44-19 lead into halftime.
“They’re great and they’re amazing,” Fiso said of Muhammad and Cain’s play off the bench. “They came out with a lot of energy, a lot of sense of urgency, too. Just creating the right plays, making the right shots.”
The opening minutes of the second half went back and forth. Portland cut Oregon’s 25-point halftime lead down to 19 a couple of times, the last at 56-37.
“We’re still a pretty young team, all things considered,” Graves said. “We’ve got to learn to come out in that second half and play with the same kind of intensity, and not just trade basket for basket.”

Jacobs, one of Oregon’s most veteran players, led the way out of that span. From the point Portland got within 56-37, Jacobs scored Oregon’s next 11 points, the capper the three-point play for a 67-39 lead.
By the fourth quarter, about the only remaining drama pertained to Fiso’s triple-double chase. She came up just short, but it seems only a matter of time before she notches one.
“I’m happy I can be that person for my team,” Fiso said. “And I know that in order to be great, yes, the assists are cool, but if I want to get to that next level, I gotta start filling up all the other stats. My coaches are on me in film, like, if you want to be great, you got to fill up all the other stuff as well. So that was kind of my initiative.”
Up Next: The Ducks face Stanford at the Women’s Bay Area Classic in San Francisco on Sunday (3 p.m., ESPN).
More Than 550 Boys Volleyball Teams Gather in Los Angeles for SoCal Cup ‘Winter Formal’ Event and College Combine
AIM Sports Group Further Demonstrates its Commitment to Boys Volleyball with Three Days of Unparalleled Competition, Plus a High School College Combine and Junior College Tournament
One of the nation’s leading tournament series for boys volleyball, SoCal Cup, hosted its latest ‘Winter Formal’ tournament at the Los Angeles Convention Center (LACC) this past weekend.
Despite construction at LACC, the three-day event, owned and operated by AIM Sports Group, drew more than 550 club volleyball teams of various age groups (12U through 18U) from across the nation. The three-day Winter Formal event packed the Los Angeles Convention Center floor with volleyball courts and a unique fan experience, while drawing a crowd of more than 19,000 daily attendees including athletes, coaches, families, and spectators.
This year’s event also featured a high profile College Combine the day prior, drawing coaches and scouts from more than 25 universities from across the country. With more than 350 young athletes and about 50 coaches participating in the College Combine, the day leading up to the Winter Formal became a unique opportunity for players to get noticed and take their talents to the next level.
In addition, the Winter Formal event provided a venue for a Junior College tournament for 16 Jr. College programs. Many of the recruiting scouts and athletes from that tournament also participated in the Combine.
“The College Combine we had at this year’s SoCal Cup Winter Formal event was an added bonus to what was already an amazing event,” said AIM Sports Group Founder John Gallegos. “The Combine exceeded expectations and further demonstrated our commitment to the development of the sport at all levels. It all ties in with our overarching mission to advance sports performance and enjoyment for youth athletes. AIM Sports Group is all-in on the growth of boys volleyball for generations to come.”
Founded by AIM Sports Group to provide elite competition, developmental playing opportunities, and training for young athletes, the SoCal Cup has grown exponentially over the last five years and is now one of the largest and best-attended youth volleyball event series in the country. The next event, the SoCal Cup Open Championship, will take place January 17-19 in Salt Lake City.
Balboa Bay was the overall tournament-winning club this year, capturing titles in three divisions. The full list of boys volleyball clubs that achieved bragging rights this year by winning their divisions at the Winter Formal event included:
Open:
18 Open: MB Surf 18’s Asics
17 Open: Coast 17-1 Victor/Berkley
16 Open: Balboa Bay 16 Blue
15 Open: Indoor
14 Open: MB Surf 14’s Asics
13 Open: Bay to Bay 13-1
12 Open: Aspire 12 Thanos
Club:
18 Club: Bravo 18-X
17 Club: Balboa Bay 17 White
16 Club: Balboa Bay 16 White
15 Club: Liv 15’s Royal
14 Club: Bay to Bay 14-Club
AIM Sports Group is a premier youth sports enterprise that owns and operates a state-of-the-art facility, premier youth boys volleyball league, regional and national events, and tech & media platforms. AIM is focused on enhancing the journey of youth athletes through innovation and elite competition in sports. Learn more at aimsportsgroup.com.
Learn more about upcoming SoCal Cup events at SoCalCupVolleyball.com.
MEDIA CONTACT:
Paul Williams, paul@medialinecommunications.com, 310/569-0023
View source version on businesswire.com: https://www.businesswire.com/news/home/20251218108284/en/
WASHINGTON (AP) — The U.S. Department of Health and Human Services on Thursday unveiled a series of regulatory actions designed to effectively ban gender-affirming care for minors, building on broader Trump administration restrictions on transgender Americans.
The sweeping proposals — the most significant moves this administration has taken so far to restrict the use of puberty blockers, hormone therapy and surgical interventions for transgender children — include cutting off federal Medicaid and Medicare funding from hospitals that provide gender-affirming care to children and prohibiting federal Medicaid dollars from being used to fund such procedures.
“This is not medicine, it is malpractice,” Health Secretary Robert F. Kennedy Jr. said of gender-affirming procedures on children in a news conference on Thursday. “Sex-rejecting procedures rob children of their futures.”
Kennedy also announced Thursday that the HHS Office of Civil Rights will propose a rule excluding gender dysphoria from the definition of a disability.
In a related move, the Food and Drug Administration issued warning letters to a dozen companies that market chest-binding vests and other equipment used by people with gender dysphoria. Manufacturers include GenderBender LLC of Carson, California and TomboyX of Seattle. The FDA letters state that chest binders can only be legally marketed for FDA-approved medical uses, such as recovery after mastectomy surgery.

Medicaid programs in slightly less than half of states currently cover gender-affirming care. At least 27 states have adopted laws restricting or banning the care. The Supreme Court’s recent decision upholding Tennessee’s ban means most other state laws are likely to remain in place.
Thursday’s announcements would imperil access in nearly two dozen states where drug treatments and surgical procedures remain legal and funded by Medicaid, which includes federal and state dollars.
The proposals announced by Kennedy and his deputies are not final or legally binding. The federal government must go through a lengthy rulemaking process, including periods of public comment and document rewrites, before the restrictions becoming permanent. They are also likely to face legal challenges.
But the proposed rules will likely further intimidate health care providers from offering gender-affirming care to children and many hospitals have already ceased such care in anticipation of federal action.
Nearly all U.S. hospitals participate in the Medicare and Medicaid programs, the federal government’s largest health plans that cover seniors, the disabled and low-income Americans. Losing access to those payments would imperil most U.S. hospitals and medical providers.
The same funding restrictions would apply to a smaller health program when it comes to care for people under the age of 19, the State Children’s Health Insurance Program, according to a federal notice posted Thursday morning.
Dr. Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services, on Thursday called transgender treatments “a Band-Aid on a much deeper pathology,” and suggested children with gender dysphoria are “confused, lost and need help.”
Polling shows many Americans agree with the administration’s view of the issue. An Associated Press-NORC Center for Public Affairs Research survey conducted earlier this year found that about half of U.S. adults approved of how Trump was handling transgender issues.
Chloe Cole, a conservative activist known for speaking about her gender-transition reversal, spoke at the news conference to express appreciation. She said cries for help from her and others in her situation, “have finally been heard.”
But the approach contradicts the recommendations of most major U.S. medical organizations, including the American Medical Association, which has urged states not to restrict care for gender dysphoria.
Advocates for transgender children strongly refuted the administration’s claims about gender-affirming care and said Thursday’s moves would put lives at risk.
“In an effort to strongarm hospitals into participating in the administration’s anti-LGBTQ agenda, the Trump Administration is forcing health care systems to choose between providing lifesaving care for LGBTQ+ young people and accepting crucial federal funding,” Dr. Jamila Perritt, a Washington-based OB/GYN and president and CEO of Physicians for Reproductive Health, said in a statement. “This is a lose-lose situation where lives are inevitably on the line. “
Rodrigo Heng-Lehtinen, senior vice president at The Trevor Project, a nonprofit suicide prevention organization for LBGTQ+ youth, called the changes a “one-size-fits-all mandate from the federal government” on a decision that should be between a doctor and patient.
“The multitude of efforts we are seeing from federal legislators to strip transgender and nonbinary youth of the health care they need is deeply troubling,” he said.
The announcements build on a wave of actions President Donald Trump, his administration and Republicans in Congress have taken to target the rights of transgender people nationwide.
On his first day in office, Trump signed an executive order that declared the federal government would recognize only two immutable sexes: male and female. He also has signed orders aimed at cutting off federal support for gender transitions for people under age 19 and barring transgender athletes from participating in girls’ and women’s sports.
On Wednesday, a bill that would open transgender health care providers to prison time if they treat people under the age of 18 passed the U.S. House and heads to the Senate. Another bill under consideration in the House on Thursday aims to ban Medicaid coverage for gender-affirming care for children.
Young people who persistently identify as a gender that differs from their sex assigned at birth are first evaluated by a team of professionals. Some may try a social transition, involving changing a hairstyle or pronouns. Some may later also receive hormone-blocking drugs that delay puberty, followed by testosterone or estrogen to bring about the desired physical changes in patients. Surgery is rare for minors.
___
Shastri reported from Milwaukee. Associated Press writer Geoff Mulvihill contributed to this report.
Copyright 2025 The Associated Press. All rights reserved.
TOKYO, Dec. 18, 2025 /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.
Financial Highlights for the Nine Months Ended September 30, 2025
Operational Highlights for the Nine Months Ended September 30, 2025
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.”
Financial Results for the Nine Months Ended September 30, 2025
Revenue
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.
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).
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).
Cost of Revenue
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.
Gross Profit
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.
Selling, General, and Administrative Expenses
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.
Other Income (Expenses), Net
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.
Net Income
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
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.
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.
Financial Condition
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.
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.
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.
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.
Financial Guidance
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.
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 ($3.5 million) for the fiscal year ended December 31, 2024.
These projections are based on the assumption that no business acquisitions, restructuring activities, or legal settlements will take place during the period.
Exchange Rate Information
This announcement contains translations of certain Japanese Yen (“JPY”) amounts into U.S. dollars (“USD,” or “$”) 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.
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, 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/.
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 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: [email protected]
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]
|
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. AND SUBSIDIARIES |
||||||||||||
|
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
||||||||||||
|
For the nine months ended |
||||||||||||
|
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. AND SUBSIDIARIES |
||||||||||||
|
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||||||
|
For the nine months ended |
||||||||||||
|
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 |
|||||||||
SOURCE LEIFRAS Co., Ltd.


photo by: Contributed
Volunteers serve hot meals Wednesday, Dec. 25, 2024, for Lawrence’s annual Community Christmas Dinner.
Friday, Dec. 19
Christmas Through the Ages: Historic Lecompton’s Annual Christmas Tree Display, 10 a.m.-4 p.m., Territorial Capital Museum, 640 E. Woodson Ave., Lecompton.
“Holiday Reflections” walk-through village, 10 a.m.-8 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
“Adornment” Holiday Art Show & Sale, 1-6 p.m., Van Go, 715 New Jersey St.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Knights of Lights, 5:30-10 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Moving screening: “Trading Places” (1983), 7 p.m., Liberty Hall Little Theater, 644 Massachusetts St. See liberty-hall.com for ticket information.
Kansas City Symphony Presents: Christmas Festival, 7 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Wine and Carols, 7-9 p.m., Trivedi Wine, 1826 E. 1150 Road. $5 cover charge.
Kansas City Ballet Presents: “The Nutcracker,” 7:30 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
KC Rep: “A Christmas Carol,” 8 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Saturday, Dec. 20
Festivus Fun Run, 9 a.m., Ad Astra Running, 837 Massachusetts St. See connect.garmin.com/modern/course/239297421 for course.
“Holiday Reflections” walk-through village, 9 a.m.-7 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
Christmas Through the Ages: Historic Lecompton’s Annual Christmas Tree Display, 10 a.m.-4 p.m., Territorial Capital Museum, 640 E. Woodson Ave., Lecompton.
“Adornment” Holiday Art Show & Sale, 10 a.m.-5 p.m., Van Go, 715 New Jersey St.
Silent Book Club meeting, 10:30 a.m., Tous les Jours, 525 Wakarusa Drive. Bring whatever book you’re reading. No assigned reading; readers quietly gather to enjoy their various books in silent companionship.
Festival of Nativities, noon-4 p.m., Centenary United Methodist Church, 245 N. Fourth (corner of Fourth and Elm), North Lawrence.
Holiday Bake Sale to benefit Sunrise Project, noon-4 p.m., 245 N. Fourth St.
Kansas City Symphony Presents: Christmas Festival, 1 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
KC Rep: “A Christmas Carol,” 2 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Kansas City Ballet Presents: “The Nutcracker,” 2 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Winter Wonderland, 5-8 p.m., Prairie Park Nature Center, 2730 Harper St. Pre-register at lprd.org.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Knights of Lights, 5:30-10 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Miller Marley Performing Companies: “Clara’s Dream and a Holiday Musical Revue,” 6 p.m., Lied Center, 1600 Stewart Drive. See lied.ku.edu for tickets.
Kansas Ballet Presents “The Nutcracker” featuring the Topeka Symphony, 7 p.m., Topeka Performing Arts Center, 214 SE 8th St., Topeka.
Kansas City Symphony Presents: Christmas Festival, 7 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Kansas City Ballet Presents: “The Nutcracker,” 7:30 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Movie screening: “Spaceballs” (1987), 8 p.m., Liberty Hall, 644 Massachusetts St. See liberty-hall.com for tickets.
KC Rep: “A Christmas Carol,” 8 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Sunday, Dec. 21
“Holiday Reflections” walk-through village, 9 a.m.-7 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
Festival of Nativities, noon-4 p.m., Centenary United Methodist Church, 245 N. 4th (corner of 4th and Elm), North Lawrence.
Holiday Bake Sale to benefit Sunrise Project, noon-4 p.m., 245 N. Fourth St.
“Adornment” Holiday Art Show & Sale, 1-5 p.m., Van Go, 715 New Jersey St.
Miller Marley Performing Companies: “Clara’s Dream and a Holiday Musical Revue,” 2 p.m., Lied Center, 1600 Stewart Drive. Tickets at lied.ku.edu.
Knights of Lights, 5:30-9 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Kansas Ballet Presents “The Nutcracker” featuring the Topeka Symphony, 7 p.m., Topeka Performing Arts Center, 214 SE 8th St., Topeka.
KC Rep: “A Christmas Carol,” 1 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Kansas City Ballet Presents: “The Nutcracker,” 1 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Christmas Through the Ages: Historic Lecompton’s Annual Christmas Tree Display, 1-5 p.m., Territorial Capital Museum, 640 E. Woodson Ave., Lecompton.
Kansas City Symphony Presents: Christmas Festival, 2 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Drunken Fiddles Holiday Music, 3 p.m., Lucia’s, 1016 Massachusetts St.
Kansas City Ballet Presents: “The Nutcracker,” 5:30 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
KC Rep: “A Christmas Carol,” 6 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Movie screening: “Home Alone” (1990), 7 p.m., Liberty Hall Main Theater, 644 Massachusetts St. See liberty-hall.com for tickets.
Kansas City Symphony Presents: Christmas Festival, 7 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Monday, Dec. 22
“Holiday Reflections” walk-through village, 10 a.m.-8 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
Kansas City Ballet Presents: “The Nutcracker,” 2 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Knights of Lights, 5:30-9 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Movie screening: “Holiday” (1938), 7 p.m., Liberty Hall Main Theater, 644 Massachusetts St. Tickets at liberty-hall.com.
Kansas City Ballet Presents: “The Nutcracker,” 7:30 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Tuesday, Dec. 23
“Holiday Reflections” walk-through village, 10 a.m.-8 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
Kansas City Ballet Presents: “The Nutcracker,” 2 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Knights of Lights, 5:30-9 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Kansas City Symphony Presents: It’s a Wonderful Life in Concert, 7 p.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
KC Rep: “A Christmas Carol,” 7 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Movie screening: “Gremlins” (1984), 7 p.m., Liberty Hall Main Theater, 644 Massachusetts St. See liberty-hall.com for tickets.
Kansas City Ballet Presents: “The Nutcracker,” 7:30 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
Wednesday, Dec. 24
“Holiday Reflections” walk-through village, 10 a.m.-2 p.m., Grand Plaza, Union Station, 30 West Pershing Road, Kansas City, Mo.; see unionstation.org for tickets.
Christmas Through the Ages: Historic Lecompton’s Annual Christmas Tree Display, 10 a.m.-4 p.m., Territorial Capital Museum, 640 E. Woodson Ave., Lecompton.
Kansas City Symphony Presents: It’s a Wonderful Life in Concert, 11 a.m., Helzberg Hall, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
KC Rep: “A Christmas Carol,” 1 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Kansas City Ballet Presents: “The Nutcracker,” 1 p.m., Muriel Kauffman Theatre, Kauffman Center, 1601 Broadway Blvd., Kansas City, Mo.
KC Rep: “A Christmas Carol,” 5 p.m., Spencer Theatre, UMKC Campus, 4949 Cherry St., Kansas City, Mo.
Knights of Lights, 5:30-9 p.m., KC Ren Fest, Queen’s Gate Entrance, 628 N. 126th St., Bonner Springs.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Movie screening: “The Shop Around the Corner” (1940), 7 p.m., Liberty Hall Main Theater, 644 Massachusetts St. See liberty-hall.com for tickets.
Thursday, Dec. 25
Community Christmas Dinner, 11 a.m.-2 p.m., First United Methodist Church, 946 Vermont St. Home deliveries also available.
Lawrence Lights: Making Spirits Bright, 5:30-9:30 p.m., Youth Sports Complex, 4911 W. 27th St. See lawrence-lights.com.
Movie screening: “While You Were Sleeping” (1995), 7 p.m., Liberty Hall Main Theater, 644 Massachusetts St. Tickets at liberty-hall.com.
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