LEIFRAS Co., Ltd. Reports Financial Results of Six Months Ended June 30, 2025
TOKYO, Oct. 30, 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 six months ended June 30, 2025.
Financial Highlights of the Six Months Ended June 30, 2025
- Revenue was JPY5.5 billion ($38.1 million) for the six months ended June 30, 2025, an increase of 15.0% from JPY4.8 billion for the same period last year.
- Gross profit was JPY1.4 billion ($10.0 million) for the six months ended June 30, 2025, an increase of 16.1% from JPY1.2 billion for the same period last year.
- Gross margin was 26.3% for the six months ended June 30, 2025, increased from 26.0% for the same period last year.
- Net income was JPY53.7 million ($0.4 million) for the six months ended June 30, 2025, an increase of 25.6% from JPY42.8 million for the same period last year.
- Basic and diluted earnings per share was JPY2.2 ($0.01) for the six months ended June 30, 2025, compared to basic earnings per share of JPY1.7 and diluted earnings per share of JPY1.5 for the same period last year.
Operational Highlights of the Six Months Ended June 30, 2025
- Number of members in the sports school business was 69,500 for the six months ended June 30, 2025, an increase of 6.4% from 65,337 for the same period last year.
- Average membership duration in the sports school business was 1.9 years for the six months ended June 30, 2025, an increase of 2.2% from 1.8 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 JPY6.1 million ($42,433) for the six months ended June 30, 2025, an increase of 4.2% from JPY5.9 million for the same period last year.
- Number of schools served under the social business segment was 349 for the six months ended June 30, 2025, an increase of 48.5% 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 JPY5.1 million ($35,121) for the six months ended June 30, 2025, an increase of 21.7% from JPY4.2 million for the same period last year.
Mr. Kiyotaka Ito, the Representative Director and Chief Executive Officer of Leifras, commented, "We are pleased to share strong results for the first half of fiscal year 2025, with revenue increasing 15.0%, gross profit rising 16.1%, and net income growing 25.6% year over year. These results reflect both growth in our sports school business, where membership and event participation continued to increase, and momentum in our social business, which saw a 48.5% increase in the number of schools served from the same period last year. Notably, revenue per capita in our social business rose 21.7% year over year, highlighting the growing value and impact of our community-based services.
"In October 2025, we achieved an important milestone with Leifras' successful initial public offering on Nasdaq. This achievement would not have been possible without the unwavering support of so many: the children and families who use our services, the shareholders who share our vision, the business partners who advance our mission, and the dedicated instructors across Japan whose passion drives our work each day. I offer my heartfelt gratitude to everyone who has been part of this journey."
Mr. Ito continued, "At Leifras, we believe in the power of sports to transcend language and borders and to enrich lives and communities. Looking ahead, we are dedicated to continuing to build on the momentum by advancing youth sports education, broadening our social initiatives, and driving operational efficiency to create sustainable, long-term value for our shareholders and the communities we serve."
Financial Results of the Six Months Ended June 30, 2025
Revenue
Total revenue was JPY5.5 billion ($38.1 million) for the six months ended June 30, 2025, an increase of 15.0% from JPY4.8 billion for the same period last year.
Sports school business revenue was JPY3.9 billion ($27.3 million) for the six months ended June 30, 2025, an increase of 8.5% from JPY3.6 billion for the same period last year. The increase in revenue was mostly driven by: (i) an increase in the number of members by 4,163, from 65,337 as of June 30, 2024 to 69,500 as of June 30, 2025, resulting in an increase in revenue of JPY229.1 million ($1.6 million) and (ii) an increase in the number of customers who joined events hosted by the Company from 84,651 for the six months ended June 30, 2024 to 90,501 for the six months ended June 30, 2025, leading to an increase in the sports school business revenue by JPY74.8 million ($0.5 million).
Social business revenue was JPY1.6 billion ($10.8 million) for the six months ended June 30, 2025, an increase of 35.4% from JPY1.1 billion for the same period last year. The increase in revenue was mostly driven by: (i) an increase in the number of schools by 114, from 235 as of June 30, 2024 to 349 as of June 30, 2025, resulting in an increase in revenue of JPY356.2 million ($2.5 million), and (ii) an increase in after-school daycare service revenue by JPY37.4 million ($0.3 million).
Cost of Revenue
Cost of revenue was JPY4.0 billion ($28.1 million) for the six months ended June 30, 2025, an increase of 14.6% from JPY3.5 billion for the same period last year.
Gross Profit
Gross profit was JPY1.4 billion ($10.0 million) for the six months ended June 30, 2025, an increase of 16.1% from JPY1.2 billion for the same period last year.
Gross margin was 26.3% for the six months ended June 30, 2025, increased from 26.0% for the same period last year.
Selling, General, and Administrative Expenses
Selling, general, and administrative expenses were JPY1.4 billion ($9.5 million) for the six months ended June 30, 2025, an increase of 13.6% from JPY1.2 billion for the same period last year. The increase was attributed to (i) the increase in salaries and welfare expenses of JPY69.8 million ($0.5 million) due to business expansion as well as an increase in headquarters personnel in preparation for our initial public offering ("IPO"), (ii) the increase in promotion fees of JPY10.7 million ($0.07 million) due to business expansion, (iii) the increase in office rental fees of JPY12.6 million ($0.09 million) due to business expansion, (iv) the increase in system maintenance fee expenses of JPY13.9 million ($0.10 million) incurred due to the increase in the number of employees, and (v) the increase in recruitment fees of JPY33.4 million ($0.2 million) due to business expansion as well as an increase in headquarters personnel in preparation for our IPO.
Other Income (Expenses)
Other expenses were JPY11.3 million ($0.08 million) for the six months ended June 30, 2025, a decrease of 139.5% from other income of JPY28.6 million for the same period last year. The decrease was attributed to: (i) net franchise income collected (returned) of JPY27.4 million ($0.2 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.
Net Income
Net income was JPY53.7 million ($0.4 million) for the six months ended June 30, 2025, an increase of 25.6% from JPY42.8 million for the same period last year.
Basic and Diluted Earnings per Share
Basic earnings per share was JPY2.2 ($0.01) for the six months ended June 30, 2025, compared to JPY1.7 for the same period last year.
Diluted earnings per share was JPY2.2 ($0.01) for the six months ended June 30, 2025, compared to JPY1.5 for the same period last year.
Financial Condition
As of June 30, 2025, the Company had cash of JPY2.5 billion ($17.3 million), compared to JPY2.5 billion as of December 31, 2024.
Net cash provided by operating activities was JPY312.8 million ($2.2 million) for the six months ended June 30, 2025, compared to net cash used in operating activities of JPY212.3 million for the same period last year.
Net cash used in investing activities was JPY47.2 million ($0.3 million) for the six months ended June 30, 2025, compared to JPY44.2 million for the same period last year.
Net cash used in financing activities was JPY306.1 million ($2.1 million) for the six months ended June 30, 2025, compared to JPY35.7 million for the same period last year.
Recent Development
The Company consummated its IPO on October 10, 2025, in which it issued and sold 1,250,000 American Depositary Shares ("ADSs") at a price of $4.00 per ADS, resulting in gross proceeds of approximately JPY720.9 million ($5.0 million) and net proceeds of approximately JPY673.5 million ($4.7 million) after deducting the underwriting discount of approximately JPY47.4 million ($0.3 million).
Financial Guidance
The Company expects total revenue to be between $80.2 million and $82.6 million for the fiscal year ending December 31, 2025, an increase of approximately 11.9% to 15.3% from $71.6 million for the fiscal year ended December 31, 2024.
Income from operations is projected to be between $4.0 million and $4.8 million for the fiscal year ending December 31, 2025, an increase of 11.6% to 34.0% from $3.6 million for the fiscal year ended December 31, 2024.
These projections are based on the assumption that no business acquisitions, restructuring activities, or legal settlements will take place during the period.
Exchange Rate Information
This announcement contains translations of certain Japanese Yen ("JPY") amounts into U.S. dollars ("USD," or "$") for the convenience of the reader. Translations of amounts from JPY into USD have been made at the exchange rate of JPY144.17 = $1.00, the exchange rate on June 30, 2025 set forth in the H.10 statistical release of the United States Federal Reserve Board on July 7, 2025.
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 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]
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LEIFRAS CO., LTD. AND SUBSIDIARIES |
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UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS |
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December 31, |
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June 30, |
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June 30, |
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2024 |
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2025 |
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2025 |
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JPY |
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JPY |
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US$ |
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(Unaudited) |
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(Unaudited) |
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ASSETS |
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CURRENT ASSETS |
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|
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Cash |
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2,538,554,638 |
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|
2,498,098,518 |
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|
17,327,450 |
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Accounts receivable, net |
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|
518,398,551 |
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|
487,639,054 |
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|
3,382,389 |
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|
Short-term investments |
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4,935,000 |
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|
4,711,000 |
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|
32,677 |
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Inventories, net |
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24,468,188 |
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23,298,191 |
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161,602 |
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Prepaid expenses |
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182,278,232 |
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116,165,484 |
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|
805,754 |
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Other current assets |
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34,381,843 |
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42,803,587 |
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296,897 |
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TOTAL CURRENT ASSETS |
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3,303,016,452 |
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3,172,715,834 |
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22,006,769 |
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|
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NON-CURRENT ASSETS |
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Property and equipment, net |
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53,805,279 |
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|
101,588,668 |
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|
704,645 |
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Finance lease right-of-use assets |
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|
208,611,550 |
|
|
|
239,787,178 |
|
|
|
1,663,225 |
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|
Operating lease right-of-use assets |
|
|
337,330,750 |
|
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|
529,227,650 |
|
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|
3,670,858 |
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|
Intangible assets, net |
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|
39,250,078 |
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|
31,471,323 |
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|
218,293 |
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Goodwill |
|
|
27,999,994 |
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|
27,999,994 |
|
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|
194,215 |
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Deferred tax assets, net |
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|
214,671,578 |
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|
222,612,673 |
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|
1,544,098 |
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Deferred initial public offering ("IPO") costs |
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|
157,482,065 |
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|
243,714,152 |
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|
1,690,464 |
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Long-term deposits |
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|
150,407,276 |
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|
150,527,126 |
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|
1,044,095 |
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|
Other non-current assets |
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|
3,090,205 |
|
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|
10,818,502 |
|
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|
75,040 |
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TOTAL NON-CURRENT ASSETS |
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|
1,192,648,775 |
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|
1,557,747,266 |
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|
|
10,804,933 |
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TOTAL ASSETS |
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|
4,495,665,227 |
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|
4,730,463,100 |
|
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|
32,811,702 |
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LIABILITIES AND SHAREHOLDERS' EQUITY |
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CURRENT LIABILITIES |
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|
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|
|
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Short-term loans |
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|
700,000,000 |
|
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|
700,000,000 |
|
|
|
4,855,379 |
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|
Current portion of long-term loans |
|
|
230,785,000 |
|
|
|
169,248,000 |
|
|
|
1,173,947 |
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|
Bond payable, current |
|
|
40,000,000 |
|
|
|
40,000,000 |
|
|
|
277,450 |
|
|
Accounts payable |
|
|
168,281,568 |
|
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|
147,601,943 |
|
|
|
1,023,805 |
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|
Accrued liabilities |
|
|
1,109,740,581 |
|
|
|
1,157,505,640 |
|
|
|
8,028,757 |
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|
Income tax payable |
|
|
75,374,800 |
|
|
|
2,592,200 |
|
|
|
17,980 |
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|
Contract liabilities, current |
|
|
147,628,310 |
|
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|
362,794,883 |
|
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|
2,516,438 |
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|
Amount due to a director |
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|
1,000,000 |
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|
- |
|
|
|
- |
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Finance lease liabilities, current |
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|
71,681,545 |
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|
83,509,650 |
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|
|
579,244 |
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|
Operating lease liabilities, current |
|
|
110,889,134 |
|
|
|
127,649,484 |
|
|
|
885,409 |
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Other current liabilities |
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|
195,952,191 |
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|
142,558,262 |
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|
|
988,821 |
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TOTAL CURRENT LIABILITIES |
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|
2,851,333,129 |
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|
2,933,460,062 |
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|
20,347,230 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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NON-CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
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Long-term loans, net of current portion |
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|
175,452,000 |
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|
80,884,000 |
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|
|
561,032 |
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Bond payable, non-current |
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|
56,807,020 |
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|
37,491,230 |
|
|
|
260,049 |
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Contract liabilities, non-current |
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|
10,615,635 |
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|
13,393,896 |
|
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|
92,903 |
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Finance lease liabilities, non-current |
|
|
140,333,247 |
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|
154,402,355 |
|
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|
1,070,974 |
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Operating lease liabilities, non-current |
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|
207,353,977 |
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|
385,702,563 |
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|
2,675,332 |
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Assets retirement obligations |
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|
12,914,758 |
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30,567,335 |
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212,023 |
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TOTAL NON-CURRENT LIABILITIES |
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603,476,637 |
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702,441,379 |
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4,872,313 |
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TOTAL LIABILITIES |
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3,454,809,766 |
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|
3,635,901,441 |
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25,219,543 |
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COMMITMENTS AND CONTINGENCIES |
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SHAREHOLDERS' EQUITY |
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Ordinary shares |
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80,500,000 |
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80,500,000 |
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|
558,369 |
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Additional paid-in capital |
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|
748,840,080 |
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|
748,840,080 |
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5,194,146 |
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Treasury shares |
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|
(100,012,265) |
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|
|
(100,012,265) |
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|
(693,711) |
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Retained earnings |
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|
311,527,646 |
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|
365,233,844 |
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|
2,533,355 |
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TOTAL SHAREHOLDERS' EQUITY |
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|
1,040,855,461 |
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|
1,094,561,659 |
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|
7,592,159 |
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TOTAL LIABILITIES AND SHAREHOLDERS' |
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4,495,665,227 |
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4,730,463,100 |
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|
32,811,702 |
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LEIFRAS CO., LTD. AND SUBSIDIARIES |
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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
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For the six months ended |
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2024 |
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2025 |
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2025 |
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JPY |
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JPY |
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US$ |
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NET REVENUE |
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4,773,202,759 |
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5,488,810,821 |
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38,071,796 |
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Cost of revenue |
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(3,532,146,670) |
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(4,047,686,339) |
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(28,075,788) |
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GROSS PROFIT |
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1,241,056,089 |
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1,441,124,482 |
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|
9,996,008 |
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Selling, general, and administrative expenses |
|
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(1,208,412,234) |
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|
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(1,373,195,238) |
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|
|
(9,524,833) |
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INCOME FROM OPERATIONS |
|
|
32,643,855 |
|
|
|
67,929,244 |
|
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|
471,175 |
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|
|
|
|
|
|
|
|
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OTHER INCOME (EXPENSE) |
|
|
|
|
|
|
|
|
|
|
|
|
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Interest income |
|
|
26,102 |
|
|
|
1,299,080 |
|
|
|
9,011 |
|
|
Interest expense |
|
|
(9,169,968) |
|
|
|
(9,378,973) |
|
|
|
(65,055) |
|
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Grant income |
|
|
12,913,919 |
|
|
|
9,399,558 |
|
|
|
65,198 |
|
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Unrealized (loss) gain on short-term investment |
|
|
245,000 |
|
|
|
(224,000) |
|
|
|
(1,554) |
|
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Loss on disposal of long-lived assets |
|
|
- |
|
|
|
(168,973) |
|
|
|
(1,172) |
|
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Loss on disposal of a subsidiary |
|
|
(753,900) |
|
|
|
- |
|
|
|
- |
|
|
Other income (expense), net |
|
|
16,198,568 |
|
|
|
(20,302,598) |
|
|
|
(140,824) |
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Total other income, net |
|
|
19,459,721 |
|
|
|
(19,375,906) |
|
|
|
(134,396) |
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INCOME BEFORE INCOME TAX PROVISION |
|
|
52,103,576 |
|
|
|
48,553,338 |
|
|
|
336,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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PROVISION FOR INCOME TAXES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
|
(3,922,389) |
|
|
|
(2,788,235) |
|
|
|
(19,340) |
|
|
Deferred |
|
|
(5,405,355) |
|
|
|
7,941,095 |
|
|
|
55,081 |
|
|
Total provision for income taxes |
|
|
(9,327,744) |
|
|
|
5,152,860 |
|
|
|
35,741 |
|
|
NET INCOME |
|
|
42,775,832 |
|
|
|
53,706,198 |
|
|
|
372,520 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
24,910,660 |
|
|
|
24,910,619 |
|
|
|
24,910,619 |
|
|
Diluted |
|
|
28,115,922 |
|
|
|
24,913,619 |
|
|
|
24,913,619 |
|
|
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
1.72 |
|
|
|
2.16 |
|
|
|
0.01 |
|
|
Diluted |
|
|
1.52 |
|
|
|
2.16 |
|
|
|
0.01 |
|
|
LEIFRAS CO., LTD. AND SUBSIDIARIES |
||||||||||||
|
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||||||
|
|
||||||||||||
|
|
|
For the six months ended |
|
|||||||||
|
|
|
2024 |
|
|
2025 |
|
|
2025 |
|
|||
|
|
|
JPY |
|
|
JPY |
|
|
US$ |
|
|||
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
42,775,832 |
|
|
|
53,706,198 |
|
|
|
372,520 |
|
|
Adjustments to reconcile net income to net cash provided by operating |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization expense |
|
|
60,244,494 |
|
|
|
66,679,088 |
|
|
|
462,503 |
|
|
Loss on disposal of a subsidiary |
|
|
753,900 |
|
|
|
- |
|
|
|
- |
|
|
Reversal of (provision for) expected credit loss |
|
|
(1,089,375) |
|
|
|
5,788,690 |
|
|
|
40,152 |
|
|
Loss on disposal of property and equipment |
|
|
- |
|
|
|
168,973 |
|
|
|
1,172 |
|
|
Provision for inventory impairment |
|
|
- |
|
|
|
719,481 |
|
|
|
4,991 |
|
|
Unrealized loss (gain) on short-term investment |
|
|
(245,000) |
|
|
|
224,000 |
|
|
|
1,554 |
|
|
Other non-cash expenses |
|
|
1,846,026 |
|
|
|
215,875 |
|
|
|
1,497 |
|
|
Deferred tax expense |
|
|
5,405,355 |
|
|
|
(7,941,095) |
|
|
|
(55,081) |
|
|
Changes in operating assets and liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
36,039,016 |
|
|
|
24,970,807 |
|
|
|
173,204 |
|
|
Inventories |
|
|
1,140,810 |
|
|
|
450,516 |
|
|
|
3,125 |
|
|
Prepaid expenses |
|
|
(30,483,735) |
|
|
|
65,923,967 |
|
|
|
457,265 |
|
|
Long-term deposits |
|
|
(8,058,565) |
|
|
|
(119,850) |
|
|
|
(831) |
|
|
Amount due from a director |
|
|
33,577,065 |
|
|
|
- |
|
|
|
- |
|
|
Other current assets |
|
|
(848,651) |
|
|
|
(8,421,744) |
|
|
|
(58,416) |
|
|
Other non-current assets |
|
|
(11,654,487) |
|
|
|
(7,728,297) |
|
|
|
(53,606) |
|
|
Accounts payable |
|
|
(93,111,459) |
|
|
|
(20,679,625) |
|
|
|
(143,439) |
|
|
Accrued liabilities |
|
|
(271,113,027) |
|
|
|
47,765,059 |
|
|
|
331,311 |
|
|
Contract liabilities |
|
|
214,872,458 |
|
|
|
217,944,834 |
|
|
|
1,511,721 |
|
|
Operating lease liabilities |
|
|
(21,505) |
|
|
|
3,212,036 |
|
|
|
22,280 |
|
|
Income tax payable |
|
|
(153,014,746) |
|
|
|
(72,782,600) |
|
|
|
(504,839) |
|
|
Amount due to a director |
|
|
- |
|
|
|
(1,000,000) |
|
|
|
(6,936) |
|
|
Other current liabilities |
|
|
(39,335,511) |
|
|
|
(56,292,856) |
|
|
|
(390,462) |
|
|
Net cash (used in) provided by operating activities |
|
|
(212,321,105) |
|
|
|
312,803,457 |
|
|
|
2,169,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash outflow due to reduction in consolidated entities |
|
|
(17,257,489) |
|
|
|
- |
|
|
|
- |
|
|
Purchase of property and equipment |
|
|
(11,322,540) |
|
|
|
(42,125,175) |
|
|
|
(292,191) |
|
|
Purchase of intangible assets |
|
|
(15,621,500) |
|
|
|
(5,045,000) |
|
|
|
(34,994) |
|
|
Net cash used in investing activities |
|
|
(44,201,529) |
|
|
|
(47,170,175) |
|
|
|
(327,185) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of finance lease liabilities |
|
|
(27,097,591) |
|
|
|
(43,752,315) |
|
|
|
(303,477) |
|
|
Proceeds from bank loans |
|
|
250,000,000 |
|
|
|
- |
|
|
|
- |
|
|
Repayment of bank loans |
|
|
(177,355,000) |
|
|
|
(156,105,000) |
|
|
|
(1,082,784) |
|
|
Repayment of bond payable |
|
|
(20,000,000) |
|
|
|
(20,000,000) |
|
|
|
(138,725) |
|
|
Payment of deferred IPO costs |
|
|
(61,211,064) |
|
|
|
(86,232,087) |
|
|
|
(598,128) |
|
|
Net cash used in financing activities |
|
|
(35,663,655) |
|
|
|
(306,089,402) |
|
|
|
(2,123,114) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash |
|
|
(292,186,289) |
|
|
|
(40,456,120) |
|
|
|
(280,614) |
|
|
Cash at the beginning of period |
|
|
2,729,282,346 |
|
|
|
2,538,554,638 |
|
|
|
17,608,064 |
|
|
Cash at the end of the period end |
|
|
2,437,096,057 |
|
|
|
2,498,098,518 |
|
|
|
17,327,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary cash flow information |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for income taxes |
|
|
156,721,835 |
|
|
|
75,570,835 |
|
|
|
524,179 |
|
|
Cash paid for interest expenses |
|
|
7,323,942 |
|
|
|
8,637,073 |
|
|
|
59,909 |
|
SOURCE LEIFRAS Co., Ltd.
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