LEIFRAS Co., Ltd. dismissed its auditor WWC, P.C. and appointed Forvis Mazars Japan Audit LLC as its new independent registered public accounting firm, effective after the completion of the third quarter fiscal year review. The company disclosed material weaknesses in internal controls identified by management for the fiscal year ended December 31, 2025, including insufficient U.S. GAAP expertise, lack of formalized financial reporting controls, and ineffective IT controls over segregation of duties and user access. WWC confirmed no disagreements with the company on accounting principles or auditing matters during the two most recent fiscal years. The transition aims to unify Japan-U.S. audit frameworks, enhance governance, and optimize costs while supporting potential dual listing plans. LEIFRAS Co., Ltd. operates in the youth sports education industry as a leading operator of children's sports schools and community engagement services in Japan.
