Core Insights - Leifras Co., Ltd. reported strong financial results for the first half of fiscal year 2025, with revenue increasing by 15.0% year over year, gross profit rising by 16.1%, and net income growing by 25.6% [3][5][13] Financial Highlights - Total revenue for the six months ended June 30, 2025, was JPY 5.5 billion ($38.1 million), up from JPY 4.8 billion for the same period last year [5][6] - Gross profit was JPY 1.4 billion ($10.0 million), an increase from JPY 1.2 billion, with a gross margin of 26.3% [10][5] - Net income reached JPY 53.7 million ($0.4 million), compared to JPY 42.8 million in the previous year [13] - Basic and diluted earnings per share were JPY 2.2 ($0.01), up from JPY 1.7 and JPY 1.5 respectively [14][15] Operational Highlights - Membership in the sports school business increased to 69,500, a 6.4% rise from 65,337 [5] - The average membership duration in the sports school business was 1.9 years, up 2.2% from the previous year [5] - Revenue per capita in the sports school business was JPY 6.1 million ($42,433), a 4.2% increase [5] - The number of schools served under the social business segment rose to 349, a 48.5% increase from 235 [5] - Revenue per capita in the social business was JPY 5.1 million ($35,121), reflecting a 21.7% increase [5] Cost and Expenses - Cost of revenue was JPY 4.0 billion ($28.1 million), an increase of 14.6% from JPY 3.5 billion [9] - Selling, general, and administrative expenses were JPY 1.4 billion ($9.5 million), up 13.6% from JPY 1.2 billion [11] Recent Developments - Leifras successfully completed its initial public offering (IPO) on Nasdaq on October 10, 2025, raising approximately JPY 720.9 million ($5.0 million) [4][18] - The company expects total revenue for the fiscal year ending December 31, 2025, to be between $80.2 million and $82.6 million, representing an increase of approximately 11.9% to 15.3% from the previous year [19]

Core Insights - The U.S. IPO market remains active despite government shutdown, with 6 traditional IPOs and 2 SPACs launched this week, alongside 13 companies filing for initial public offerings [1][12]. Group 1: IPO Activity - Alliance Laundry Holdings (ALH) raised $826 million, pricing at the upper limit of its range, achieving a market cap of $4.5 billion, and saw a 14% stock price increase [1]. - Phoenix Education Partners (PXED) raised $136 million, pricing at the midpoint of its range, with a market cap of $1.3 billion and a 13% stock price increase [1]. - Ping An Good Doctor (POM) raised $20 million, pricing at the lower limit of its range, with a market cap of $474 million and a 9% stock price increase [2]. - One and One Green Tech (YDDL) raised $10 million, pricing at the midpoint of its range, achieving a market cap of $27 million and a significant 31% stock price increase [2]. - Leifras (LFS) raised $5 million, pricing at the lower limit of its range, with a market cap of $10.5 million, but experienced a 5% stock price decline [2]. - Turn Therapeutics (TTRX) debuted via direct listing at $10, but saw a 26% decline in stock price [3]. Group 2: SPAC Activity - Two SPACs completed their listings: GigCapital8 (GIWWU) raised $220 million and Lake Superior Acquisition (LKSPU) raised $100 million, focusing on energy, social media, and consumer goods [4]. - Five SPACs filed for IPOs, including Xsolla SPAC 1 (XSOLU.RC) and Alussa Energy Acquisition II (ALUBU), both aiming to raise $250 million [8][10]. Group 3: Upcoming IPOs and Market Trends - 13 companies filed for IPOs, including BillionToOne (BLLN), Evommune (EVMN), and Central Bancompany (CBC), each planning to raise $100 million [6]. - The SEC issued new guidelines allowing companies to announce pricing ranges and set final pricing above the range, which may encourage more companies to proceed with listings amid the government shutdown [12].

Core Viewpoint - LEIFRAS Co., Ltd. has successfully closed its initial public offering (IPO) of 1,250,000 American Depositary Shares (ADSs) at a price of US$4.00 per ADS, raising gross proceeds of US$5.0 million before expenses [1][2]. Group 1: Offering Details - The ADSs began trading on the Nasdaq Capital Market under the ticker symbol "LFS" on October 9, 2025 [1]. - The underwriters have a 45-day option to purchase an additional 187,500 ADSs to cover over-allotments at the public offering price [1]. Group 2: Use of Proceeds - Proceeds from the Offering will be allocated to: - Investing in full-time human resources to expand market shares in the sports school and social businesses [2]. - Expanding the sports school business, including securing sports facilities and hiring part-time assistance [2]. - Expanding the social business by hiring part-time personnel [2]. - Other working capital uses [2]. Group 3: Company Background - LEIFRAS is headquartered in Tokyo and focuses on youth sports and community engagement, recognized as one of Japan's largest operators of children's sports schools [6]. - The company emphasizes a holistic approach to sports education, integrating physical and mental development, and operates a robust social business sector to promote community well-being [6].

As filed with the U.S. Securities and Exchange Commission on September 17, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 7 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) ...

As filed with the U.S. Securities and Exchange Commission on July 2, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 6 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) LEIFRAS Co., Ltd. (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Japan 8200 Not Applicable (Primary Standard ...

As filed with the U.S. Securities and Exchange Commission on June 13, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 5 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) LEIFRAS Co., Ltd. (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Japan 8200 Not Applicable (Primary Standard ...

As filed with the U.S. Securities and Exchange Commission on May 20, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 4 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) LEIFRAS Co., Ltd. (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Japan 8200 Not Applicable (Primary Standard ...

As filed with the U.S. Securities and Exchange Commission on March 11, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Japan 8200 Not Applicable (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) Ebisu Garden Place Tower Floor 17 4-20-3, Ebisu, Shibuya-ku Tokyo, Japan +81-30-6451-1341 AMENDMENT NO. 3 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name o ...

As filed with the U.S. Securities and Exchange Commission on February 19, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) LEIFRAS Co., Ltd. (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Japan 8200 Not Applicable (Primary Stan ...

As filed with the U.S. Securities and Exchange Commission on February 5, 2025. Registration No. 333-283712 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LEIFRAS Kabushiki Kaisha (Exact name of registrant as specified in its charter) LEIFRAS Co., Ltd. (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Japan 8200 Not Applicable (Primary Stand ...