v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Feb. 28, 2026
USD ($)
Feb. 28, 2026
JPY (¥)
Feb. 28, 2025
JPY (¥)
Feb. 29, 2024
JPY (¥)
Cash flows from operating activities        
Net income $ 10,378 ¥ 1,619,495 ¥ 1,354,327 ¥ 1,399,536
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization expense 2,750 429,103 441,932 423,597
Amortization of operating lease right-of-use assets 7,409 1,156,300 929,705 651,593
Provisions for inventory valuation losses 197 30,688
Loss (gain) on disposal of property and equipment (7) (1,092) (219) 154
Loss on disposal of intangible assets 1,589
Change in fair value of marketable securities 718 112,100 44,352 (71,165)
Impairment loss on long- term investment 583 91,021
Gain on bargain purchase (684) (106,805)
Deferred tax benefit (2,098) (327,464) (271,623) (163,968)
Changes in operating assets and liabilities:        
Accounts receivable (345) (53,770) 114,708 (26,098)
Accounts receivable due from related parties 5,975 932,423 (818,844) 1,244,049
Contract assets 1,363 212,677 (209,309) (48,148)
Contract assets due from related parties (9,951) (1,552,835) 1,845,516 (1,900,379)
Inventories (6) (961) (43,697) (2,292)
Tax receivables 2,178 339,884 (340,569) (4,244)
Prepayments and other assets 425 66,390 (1,441,012) (363,437)
Prepayments and other assets due from related parties 36 5,620 (7,097) 15,752
Accounts payable (932) (145,412) 178,164 244,732
Accounts payable due to a related party (640) (99,941) (30,206) (97,431)
Contract liabilities 1,345 209,857 170,141 216,753
Contract liabilities due to a related party 4,144 646,603 (92) (7,978)
Accrued expenses and other liabilities (34) (5,335) 544,889 (488,192)
Accrued expenses and other liabilities due to related parties (4) (674) 1,052 (1,426)
Operating lease liabilities (6,996) (1,091,737) (705,040) (658,615)
Taxes payable (2,510) (391,678) 470,572 40,260
Net cash provided by operating activities 13,294 2,074,457 2,229,239 403,053
Cash flows from investing activities        
Payment for investment (1,925) (300,472) (500) (50,000)
Proceeds from sale of investment 26,191
Purchase of property and equipment (1,722) (268,727) (594,987) (180,738)
Proceeds from sale of property and equipment 15 2,308 1,108 254
Purchase of intangible assets (146) (22,712) (38,710) (14,709)
Payment for investment (1,314) (205,000)
Net cash used in investing activities (5,092) (794,603) (633,089) (219,002)
Cash flows from financing activities        
Proceeds from borrowings 7,690 1,200,000 3,260,000 5,300,000
Repayment of borrowings (12,113) (1,890,277) (2,009,256) (4,278,044)
Payments on deferred offering costs (912) (142,368) (86,174)
Repayments of finance lease obligation (409) (63,751) (55,249) (47,906)
Purchase of treasury shares (2,618,591)
Reissuance of treasury shares 961 149,940 776,000 1,618,500
Proceeds from issuance of redeemable ordinary shares 65,000
Net cash used in investing activities (4,783) (746,456) 1,885,321 38,959
Effect of foreign exchange rate changes on cash and cash equivalents 357 55,799 (644) 38,742
Net increase in cash and cash equivalents 3,776 589,197 3,480,827 261,752
Cash and cash equivalents at the beginning of the year 49,154 7,670,463 4,189,636 3,927,884
Cash and cash equivalents at the end of the year 52,930 8,259,660 7,670,463 4,189,636
Supplementary cash flow information        
Cash paid for income taxes 6,951 1,084,760 816,763 677,119
Cash paid for interest expenses 459 71,698 53,499 36,731
Non-cash financing and investing activities        
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 6,929 1,081,311 3,127,334 126,623
Finance lease right-of-use assets obtained in exchange for finance lease liabilities 751 117,164 25,629 94,994
Remeasurement of operating lease liabilities and right-of-use assets due to modifications 49 7,674 8,092
Remeasurement of finance lease liabilities and right-of-use assets due to modifications 87 13,529
Adjustments to redeemable ordinary shares fair value measurement $ 2,048 ¥ 319,624 ¥ 3,210 ¥ 3,290