27.3 C
Vientiane
Sunday, September 14, 2025
spot_img
Home Blog Page 292

Over 500 Lao-Registered Cars Overstay in Vietnam

This photo is for representational purpose only.

Vietnamese authorities have reported that over 500 Lao-registered vehicles, including luxury models, have overstayed in Vietnam after entering under temporary import arrangements. 

On 14 August, Vietnam’s Tuoi Tre Online reported that these vehicles crossed from Savannakhet Province, Laos, into Quang Tri Province, Vietnam, via the Dansavanh-Lao Bao border gate but remained beyond the 30-day limit allowed under the Lao-Vietnam Transport Agreement.

The Dansavanh International Checkpoint, where the crossings took place, is located in Sepon district, Savannakhet Province, about 43 km from Sepon town and 240 km from the provincial capital, Kaysone Phomvihane.

Lưu Viet Hung, Head of the Lao Bao Customs Office, stated that vehicles from Laos remaining in Vietnam beyond the permitted period without returning are considered illegal.

He added that while some cars had been located in repair garages or seized as part of criminal investigations, the whereabouts of about 500 vehicles remained unknown.

The customs office reportedly requested support from multiple agencies, including the Vietnam Road Administration, national traffic police, and provincial authorities, to track and detain the vehicles. 

Officials acknowledged that enforcement is challenging without coordinated action across sectors.

According to Lao Bao Customs, the problem of overdue Lao-registered vehicles has persisted for years, and authorities have repeatedly called for stronger cooperation between border control, police, and road management agencies to address it.

Delonix Group Deepens Southeast Asia Expansion with Strategic Model J Deployment in Indonesia

Merging Chinese Hospitality Expertise with Indonesia’s Growth Markets, Delonix sets a new standard for business travel experiences

SHENZHEN, China, Aug. 15, 2025 /PRNewswire/ — Delonix Group, a leading force in Asia-Pacific’s hospitality and experiential consumption sector, announced the official debut of its business travel brand Model J in the prime business district of BSD, Tangerang, Greater Jakarta. This marks a pivotal step in the Group’s Southeast Asia strategy, demonstrating its ability to execute high-efficiency hospitality deployments in core growth corridors.

Model J Hotel BSD Carstensz - Tangerang
Model J Hotel BSD Carstensz – Tangerang

Following the successful launch of Model J Hotel Jakarta Soekarno-Hatta Airport, this new deployment strengthens Delonix’s regional presence and underscores its long-term commitment to reshaping the Southeast Asian hospitality landscape through structured innovation and deeply localized brand execution.

Through the launch of Model J BSD, Delonix is introducing its Betterwood loyalty platform to a broader Indonesian market, offering millions of members intelligent, reliable, and brand-driven travel services. In a departure from conventional, spending-based loyalty models, Betterwood pioneers an industry-first approach that calculates loyalty points based on length of stay rather than spending amount—shifting the focus from how much guests spend to how much time they spend with the brand. This equitable framework not only reinforces long-term, brand-led relationships, but also sets a new benchmark for business travel experiences across the region.

Beyond capital investment, Delonix delivers a comprehensive, integrated operating framework—encompassing its proprietary AI large language model, proven service methodologies, and organizational capabilities validated at scale in the Chinese market. With this launch, these capabilities have been localized to provide sustainable momentum for talent development and service standardization within Indonesia’s hospitality sector.

“From operations to product to returns, everything at Delonix is built for clarity, scalability, and efficiency,” said Alex Zheng, Executive Chairman & CEO of Delonix Group, “Our focus isn’t just to build better hotels, but to deliver a fully integrated, end-to-end travel experience — one that is smoother, smarter, warmer, and more reliable.

This capability goes far beyond technology. It’s the result of years of system-level thinking and operational excellence. By bringing China’s most mature hospitality frameworks to rapidly growing markets like Indonesia, we aim to raise the regional standard of travel — and create lasting societal value.”

Delonix’s global expansion strategy is grounded in a dual mission: to achieve commercial excellence while catalyzing systemic upgrades in local hospitality infrastructure. Rather than prioritizing short-term gains, the Group focuses on long-term structural value creation — turning operational expertise into scalable, sustainable growth. In Indonesia, Delonix has taken an equity position in Indies Hospitality Investments(IHI), the nation’s largest hotel management platform, securing controlling stakes in both Swiss-Belhotel and Artotel. In parallel, Delonix has expanded strategic collaborations with global hospitality leaders, including Marriott. Together, these initiatives fuse global synergies with deep local market insight and digital innovation—enhancing cross-market agility and reinforcing the strategic resilience required to accelerate Delonix’s growth across Southeast Asia.

About Delonix Group

Delonix Group is a leading international hospitality and experiential consumption group in the Asia-Pacific region. Ranked 14th globally, the Group partnered with Marriott to launch the world’s first dual-branded luxury property—MajesTang Hotel • A Tribute Portfolio Hotel—while independently creating MaisonLee, a Tang-inspired premium business travel brand. As one of the first Chinese hotel groups to expand overseas, Delonix has established a presence in high-potential markets such as Japan and Indonesia, now spanning more than 200 cities worldwide. Its portfolio encompasses Swiss-Belhotel, Artotel, Model J, hotel MONday, and other brands, positioning the Group at the forefront of building a new-generation global platform for high-end hospitality and culturally immersive travel.

Sangfor Receives Frost & Sullivan’s 2025 APAC Company of the Year Recognition for Excellence in SASE

Sangfor’s customer-first innovation and unified SASE architecture deliver real-world impact across APAC.

SAN ANTONIO, Aug. 15, 2025 /PRNewswire/ — Frost & Sullivan is pleased to announce that Sangfor has been awarded the 2025 APAC Company of the Year Recognition in the secure access service edge (SASE) industry for its outstanding achievements in innovation, customer impact, and strategic market execution. This recognition highlights Sangfor’s consistent leadership in driving measurable outcomes, strengthening its market position, and delivering customer-centric innovation in an evolving competitive landscape.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Sangfor excelled in both, demonstrating its ability to align strategic initiatives with market demand while executing them with efficiency, consistency, and scale. “Sangfor’s strong regional partner ecosystem, which includes value-added resellers (VARs), managed service providers (MSPs), system integrators (SIs), and telecom operators, further enhances the customer experience. These partners provide localized support and tailored deployment strategies that reflect the regulatory and operational realities of each country in the region,” said Claudio Stahnke, industry analyst at Frost & Sullivan.

Guided by a long-term growth strategy focused on SASE, Sangfor has shown its ability to adapt and lead in a rapidly evolving landscape. The company’s strategic agility and sustained investment in integrated cybersecurity have enabled it to scale effectively across the diverse APAC market.

Innovation is central to Sangfor’s approach. Its Athena SASE platform is built on a unified architecture that integrates key security components—zero trust network access (ZTNA), secure web gateway (SWG), firewall-as-a-service (FWaaS), data loss protection (DLP), and endpoint secure access (ESA)—within a single-agent model. This eliminates the complexity of managing fragmented tools and accelerates time-to-value, particularly for SMEs.

“We’re honored to be recognized by Frost & Sullivan for excellence in the SASE market. Sangfor Athena SASE is designed to address the evolving challenges of today’s cybersecurity landscape—supporting distributed, cloud-first enterprises, enabling scalability and agility, and delivering superior performance with stronger security. Our vision is to make Athena SASE the industry’s leading one-stop cloud security solution, with upcoming enhancements such as Zero Trust Data Access, CASB capabilities, and an expanded PoP network to provide even greater protection and reach.” — Darren Du, Vice President of Sangfor International Market

Sangfor’s unwavering commitment to customer experience further strengthens its market position. By streamlining deployment, enabling centralized policy enforcement, and equipping lean IT teams with automated alerts and rich analytics, the company meets the needs of hybrid workforces and decentralized enterprises. Its high customer retention and advocacy metrics—demonstrated by strong NPS scores and brand loyalty—underscore a delivery model built on tangible value and user satisfaction.

Frost & Sullivan commends Sangfor for setting a high standard in competitive strategy, execution, and market responsiveness. The company’s vision, innovation pipeline, and customer-first culture are shaping the future of the SASE industry and driving tangible results at scale.

Each year, Frost & Sullivan presents the Company of the Year recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition honors forward-thinking organizations that are reshaping their industries through innovation and growth excellence.

Frost & Sullivan Best Practices Recognition

Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Ashley Shreve
E: ashley.weinkauf@frost.com 

About Sangfor Technologies

Sangfor Technologies is a global leader in cybersecurity, cloud computing, and IT infrastructure, providing fully integrated and AI-driven solutions. Founded in 2000 and publicly listed since 2018 (STOCK CODE: 300454.SZ), Sangfor serves over 100,000 customers worldwide, including Fortune Global 500 companies, government institutions, universities, and healthcare organizations. With over 8,000 employees and more than 70 branch offices across APAC, EMEA, and LATAM, the company is committed to delivering on its mission to Make Your Digital Transformation Simpler and Secure.

Contact:
Joseph Lee
E: joseph.lee@sangfor.com

Sarawak Launches Landmark Energy Transition Policy at Public-Industry Engagement Day

KUCHING, Malaysia, Aug. 15, 2025 /PRNewswire/ — Sarawak has taken a decisive step toward a low-carbon future with the official launch of the Sarawak Energy Transition Policy (SET-P) by The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, Premier of Sarawak. The event was held today at the Borneo Convention Centre Kuching (BCCK) during the Public-Industry Engagement Day hosted by the Ministry of Energy and Environmental Sustainability Sarawak (MEESty).

Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, officiates the Public-Industry Engagement Day and Launching Ceremony of the Sarawak Energy Transition Policy (SET-P) at Borneo Convention Centre Kuching (BCCK) on 11 August 2025, hosted by the Ministry of Energy & Environmental Sustainability Sarawak.
Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, officiates the Public-Industry Engagement Day and Launching Ceremony of the Sarawak Energy Transition Policy (SET-P) at Borneo Convention Centre Kuching (BCCK) on 11 August 2025, hosted by the Ministry of Energy & Environmental Sustainability Sarawak.

This milestone occasion brought together over 500 participants from government, industry, academia, and civil society to exchange ideas, strengthen partnerships, and align efforts for a greener energy future.

The Sarawak Energy Transition Policy (SET-P) offers a strategic and unified roadmap to transform Sarawak’s energy landscape. Anchored on seven energy pillars namely, Renewable Energy, Natural Gas, Energy Efficiency, Low-Carbon Mobility, Clean Hydrogen, Carbon Capture Utilisation and Storage (CCUS), and Alternative Energy. The policy envisions a resilient and inclusive energy future that addresses the energy trilemma of security, affordability, and sustainability.

In his keynote address, the Premier stressed the need for collective action and innovation to achieve energy resilience and economic transformation:

“Today, we gather not merely to launch a document, but to affirm our collective vision, action, and partnership for a sustainable tomorrow.”

The launch of SET-P aligns closely with the Sarawak Sustainability Blueprint 2030 (SSB 2030), introduced in May 2025. SSB 2030 outlines 10 strategic thrusts for sustainable growth, with energy transition as its first priority. The blueprint promotes social inclusion, equitable growth, and environmental sustainability for all, while reducing reliance on traditional high-carbon industries.

Today’s event also builds on the recent release of the Sarawak Hydrogen Economy Roadmap (SHER), which outlines Sarawak’s ambitions to strengthen the entire hydrogen value chain, ranging from cost-effective production and infrastructure development to certification, innovation, and workforce readiness. It also emphasises the importance of coordinated policies and collaboration across public and private sectors to ensure successful and inclusive implementation. Together, SET-P, SHER, and SSB 2030 form a coordinated policy ecosystem to drive Sarawak’s transformation into a regional low-carbon energy hub.

The Public-Industry Engagement Day served as a platform for stakeholders to provide feedback, explore collaborations, and co-develop implementation strategies. The Honourable Datuk Dr Hazland Abang Hipni, Deputy Minister for Energy and Environmental Sustainability Sarawak, reaffirmed the government’s commitment to inclusive development and multi-stakeholder collaboration. He stated:

“We are deeply encouraged by the presence of so many industry stakeholders here today. Your interest signals your readiness to co-create the future of our homeland Sarawak, with us.

Let us use this platform to build trust, exchange expertise, and move together towards real, measurable impact. The SET-P is our compass, but each of you will help bring it to life.”

The Ministry will provide further information and policy developments after the event to ensure continued awareness and alignment with Sarawak’s energy transition agenda.

Robot Consulting Co., Ltd. Announces Fiscal Year 2025 Financial Results

TOKYO, Aug. 15, 2025 /PRNewswire/ — Robot Consulting Co., Ltd. (Nasdaq: LAWR) (the “Company” or “Robot Consulting”), a Japanese platform service provider focusing on human resource solutions with an intention to expand into legal technology and the metaverse, today announced its financial results for the fiscal year ended March 31, 2025.

Fiscal Year 2025 Financial Summary

  • Revenue was JPY675.6 million ($4.5 million) in the fiscal year ended March 31, 2025, compared to JPY693.1 million in the fiscal year ended March 31, 2024.
  • Gross profit was JPY671.6 million ($4.5 million) in the fiscal year ended March 31, 2025, compared to JPY673.3 million in the fiscal year ended March 31, 2024.
  • Net loss was JPY534.7 million ($3.6 million) in the fiscal year ended March 31, 2025, a decrease of 19.2% from JPY662.0 million in the fiscal year ended March 31, 2024.
  • Basic and diluted loss per share was JPY12.7 in the fiscal year ended March 31, 2025, compared to JPY16.1 in the fiscal year ended March 31, 2024.

Mr. Amit Thakur, Director and Chief Executive Officer of Robot Consulting, remarked, “In fiscal year 2025, we achieved notable progress in our software business while continuing to streamline our operations. Our software revenue increased by 101.0% year over year, driven by the continued adoption of our Labor Robot platform since its launch in 2023. This growth reinforces our commitment to delivering innovative solutions that meet evolving customer needs. We also achieved substantial cost improvements, with the cost of revenue down 80.2% and selling, general, and administrative expenses reduced by 8.3%, resulting in a narrower net loss compared to the prior fiscal year.

“A major recent milestone was our successful listing on the Nasdaq Capital Market under the ticker symbol ‘LAWR’ on July 17, 2025. We anticipate that this achievement will enhance our visibility with global investors, broaden our access to capital, and provide the Company with the resources needed to accelerate innovation.

“Looking ahead, we remain focused on growing the market reach of our products while enriching our product portfolio. We are currently in the process of developing and incorporating desired features to the prototype of Robot Lawyer, with a plan to launch it in November 2025. Together with our growth initiatives and supported by our ongoing operational improvements, we believe these efforts will position us to capture new opportunities, strengthen our market presence, and deliver sustainable value for our shareholders over the long term.”

Fiscal Year 2025 Financial Results

Revenue

Revenue was JPY675.6 million ($4.5 million) in the fiscal year ended March 31, 2025, a decrease of 2.5% from JPY693.1 million in the fiscal year ended March 31, 2024. The decrease was primarily driven by the following factors:

  • Revenue from sales of software was JPY151.0 million ($1.0 million) in the fiscal year ended March 31, 2025, an increase of 101.0% from JPY75.1 million in the fiscal year ended March 31, 2024. Since the Company released its software, Labor Robot, in 2023, the number of accumulated users increased, with more users as of the fiscal year ended March 31, 2025 compared to the prior fiscal year 2024, which resulted in higher revenue in the fiscal year ended March 31, 2025.
  • Revenue from consulting and support services was JPY524.6 million ($3.5 million) in the fiscal year ended March 31, 2025, a decrease of 15.1% from JPY618.0 million in the fiscal year ended March 31, 2024, as the Company discontinued the e-commerce store set-up services and had no revenue from such services during the fiscal year ended March 31, 2025.

Cost of Revenue

Cost of revenue was JPY3.9 million ($26,000) in the fiscal year ended March 31, 2025, a decrease of 80.2% from JPY19.8 million in the fiscal year ended March 31, 2024. The decrease was primarily due to the discontinuation of e-commerce store set-up services, which had a higher cost of revenue relative to total revenue.

Gross Profit

Gross profit was JPY671.6 million ($4.5 million) in the fiscal year ended March 31, 2025, a decrease of 0.2% from JPY 673.3 million in the fiscal year ended March 31, 2024.

Operating Expenses

Operating expenses were JPY1,205.8 million ($8.0 million) in the fiscal year ended March 31, 2025, a decrease of 9.0% from JPY1,325.1 million in the fiscal year ended March 31, 2024.

  • Research and development expenses were JPY86.2 million ($0.6 million) in the fiscal year ended March 31, 2025, a decrease of 16.7% from JPY103.4 million in the fiscal year ended March 31, 2024. The decrease was primarily due to reduced software development costs related to Lawyer Robot incurred during the fiscal year ended March 31, 2024.
  • Selling, general, and administrative expenses were JPY1,119.6 million ($7.5 million) in the fiscal year ended March 31, 2025, a decrease of 8.3% from JPY1,221.6 million in the fiscal year ended March 31, 2024. The decrease was primarily due to lower audit-related expenses.

Other Income (Expenses), net and Interest Expenses

Other expenses were JPY0.5 million ($3,000) in the fiscal year ended March 31, 2025, a decrease of 95% from JPY10.2 million in the fiscal year ended March 31, 2024. The decrease was primarily due to the impairment loss on investments as non-recurring expenses in the fiscal year ended March 31, 2024.

Net Loss

Net loss was JPY534.7 million ($3.6 million) in the fiscal year ended March 31, 2025, a decrease of 19.2% from JPY662.0 million in the fiscal year ended March 31, 2024.

Basic and Diluted Loss per Share

Basic and diluted loss per share was JPY12.7 in the fiscal year ended March 31, 2025, compared to JPY16.1 in the fiscal year ended March 31, 2024.

Financial Condition

As of March 31, 2025, the Company had cash and cash equivalents of JPY112.0 million, compared to JPY471.6 million as of March 31, 2024.

Net cash used in operating activities was JPY283.0 million in the fiscal year ended March 31, 2025, compared to JPY317.1 million in the fiscal year ended March 31, 2024.

Net cash used in investing activities was JPY13.1 million in the fiscal year ended March 31, 2025, compared to JPY8.9 million in the fiscal year ended March 31, 2024.

Net cash used in financing activities was JPY63.6 million in the fiscal year ended March 31, 2025, compared to net cash provided by financing activities of JPY346.4 million in the fiscal year ended March 31, 2024.

Exchange Rate Information

This announcement contains translations of certain JPY amounts into U.S. dollars for the convenience of the reader. Translations of amounts from JPY into U.S. dollars have been made at the exchange rate of JPY149.9 = $1.00, which was the foreign exchange rate on March 31, 2025 as reported by the Board of Governors of the Federal Reserve System in its weekly release on April 7, 2025.

About Robot Consulting Co., Ltd.

Robot Consulting Co., Ltd. is a Japanese platform service provider focusing on human resource solutions with an intention to expand into legal technology and the metaverse. The Company’s major product, “Labor Robot,” is a cloud-based human resource management system that helps users track employee attendance, manage sales orders, and journalize accounting items. Robot Consulting also assists users with grant and subsidy applications and provides consulting and support services for digital transformation to small and medium-sized businesses. Robot Consulting also aims to create more software and services related to digital transformation, legal technology, and the metaverse. The Company is currently developing “Robot Lawyer,” which will enable users to pose metaverse-related legal questions on certain metaverse platforms through Robot Lawyer’s AI-powered chat interface, search legal precedents through an AI-driven search engine, and access lawyer matching services for further legal consultation. For more information, please visit the Company’s website: https://ir.robotconsulting.net.

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 prospectus. 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. 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 Company’s registration statement and other filings with the U.S. Securities and Exchange Commission (“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:

Robot Consulting Co., Ltd.
Investor Relations Department
Email: ir@robotconsulting.net

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

BALANCE SHEETS

As of March 31, 2025 and 2024

(Yen in thousands, except share data)

2025

2024

March 31,

2025

2024

ASSETS

Current Assets:

Cash and cash equivalents

¥

112,012

¥

471,648

Accounts receivable, net

21,412

84,424

Related party receivable

9,304

Deferred offering costs

131,035

67,470

Prepaid expenses and other current assets

13,041

76,538

Total Current Assets

277,500

709,384

Non-current Assets:

Restricted cash

19,470

19,470

Property and equipment, net

6,946

1,929

Operating lease right-of-use assets, net

880

6,778

Intangible assets, net

7,104

1,962

Investments – Non-current

134

134

Other assets

1,938

3,888

Total Assets

¥

313,972

¥

743,545

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current Liabilities:

Trade accounts payable

¥

113,962

¥

368,883

Other payable

58,150

64,765

Accrued expenses

1,614

936

Deferred revenue – Current

351,937

130,824

Current portion of operating lease liabilities

402

6,523

Total Current Liabilities

526,065

571,931

Non-current Liabilities:

Non-current operating lease liabilities

479

255

Deferred revenue – Non-current

412,996

268,589

Other liabilities

25,817

19,470

Total Liabilities

965,357

860,245

Commitments and contingencies (Note 10)

SHAREHOLDERS’ DEFICIT:

Ordinary share, JPY1.7 par value – 168,000,000 shares authorized as of
March 31, 2025 and 2024; 42,210,000 shares issued and outstanding as of
March 31, 2025 and 2024

70,350

70,350

Additional paid-in capital

1,060,750

1,060,750

Accumulated deficit

(1,782,485)

(1,247,800)

Total Shareholders’ Deficit

(651,385)

(116,700)

Total Liabilities & Shareholders’ Deficit

¥

313,972

¥

743,545

 

STATEMENTS OF OPERATIONS

For the Fiscal Years Ended March 31, 2025, 2024 and 2023

(Yen in thousands, except share and per share data)

2025

2024

2023

For the Fiscal Years Ended March 31,

2025

2024

2023

Restated

Revenue

¥

675,561

¥

693,104

¥

83,597

Cost of revenue

3,936

19,848

70,622

Gross profit

671,625

673,256

12,975

Operating expenses:

Research and development

86,158

103,440

138,322

Selling, General and Administrative Expenses

1,119,641

1,221,614

342,670

Total operating expenses

1,205,799

1,325,054

480,992

Loss from operations

(534,174)

(651,798)

(468,017)

Other income (expenses), net

(511)

(10,168)

(10,591)

Interest expenses

(25)

Loss before income taxes

(534,685)

(661,966)

(478,633)

Provision for income taxes

Net Loss

¥

(534,685)

¥

(661,966)

¥

(478,633)

Net loss per share attributable to shareholders, basic
and diluted

¥

(12.7)

¥

(16.1)

¥

(12.3)

Weighted-average shares outstanding used to
compute net loss
per share, basic and diluted

42,210,000

41,127,797

38,882,926

 

STATEMENTS OF CASH FLOWS

For the Fiscal Years Ended March 31, 2025, 2024, and 2023

(Yen in thousands)

2025

2024

2023

For the Fiscal Years Ended March 31,

2025

2024

2023

Restated

Cash flows from operating activities:

Net loss

¥

(534,685)

¥

(661,966)

¥

(478,633)

Adjustments to reconcile net loss to net cash used in operating
activities:

Depreciation and amortization

2,892

1,832

220

Noncash lease expenses

6,643

6,179

2,968

Loss on disposal of property and equipment

592

Impairment loss on investments

10,000

10,000

Change in allowance for credit losses

(7,044)

Accounts receivable

70,056

(2,441)

(81,983)

Related party receivable

9,304

(7,230)

(2,073)

Prepaid expenses and other current assets

63,495

(51,507)

(9,555)

Other Assets

1,950

(2,297)

(594)

Accounts payable and accrued expenses

(260,857)

220,609

189,607

Deferred revenue

365,520

175,942

219,185

Operating lease liabilities

(6,643)

(6,179)

(2,968)

Other liabilities

6,350

19,470

Net cash used in operating activities

(283,019)

(317,058)

(133,764)

Cash flows from investing activities:

Purchase of property and equipment

(7,587)

(3,339)

(437)

Purchase of intangible assets

(5,464)

(2,101)

Acquisition of investments

(10,000)

(10,134)

Proceeds from sales of investment

6,552

Net cash used in investing activities

(13,051)

(8,888)

(10,571)

Cash flows from financing activities:

Payment for deferred offering costs

(63,566)

(22,015)

(45,454)

Proceeds from stock issuance

338,600

335,500

Proceeds received for subscription receivable

29,834

17,327

Net cash provided by financing activities

(63,566)

346,419

307,373

Net increase in cash, cash equivalents and restricted
cash

(359,636)

20,473

163,038

Cash, cash equivalents and restricted cash at
beginning of period

491,118

470,645

307,607

Cash, cash equivalents and restricted cash at end
of period

¥

131,482

¥

491,118

¥

470,645

Reconciliation of cash, cash equivalents and
restricted cash

Cash and cash equivalents

¥

112,012

¥

471,648

¥

451,175

Restricted cash

19,470

19,470

19,470

Total cash, cash equivalents and restricted cash

¥

131,482

¥

491,118

¥

470,645

 

Phetnilan ‘Golf’ Keovongsi Triumphs at International Dance Competition in China

Phetnilan ‘Golf’ Keowongsi Triumphs at International Dance Competition in China
Phetnilan Keowongsi, also known as Bboy KA-G, a solo dancer from Laos, performs on stage (photo credit: Cloud Jam China)

A 28-year-old Lao dancer, Phetnilan “Golf” Keovongsi, better known in the breakdancing world as Bboy KA-G, has brought home a victory from the Cloud Jam China dance competition held on 9 August in Kunming, China.

Uproot Company Deepens Partnership with VSV Capital Through Strategic Web3 Advisory Role

SEOUL, South Korea, Aug. 15, 2025 /PRNewswire/ — Uproot Company, a leading provider of AI-powered digital asset investment solutions, announced today that Chief Operating Officer Seung-gu Kang has joined as a Web3 Advisor to VSV Capital, Vietnam’s first startup accelerator.

VSV Capital has been a cornerstone of Vietnam’s startup ecosystem since its inception, actively investing from Seed to Series B stages. In 2022, it was named “Most Active VC” by Singapore-based tech media Tech in Asia, solidifying its reputation as one of the country’s most influential venture capital firms.

Uproot Company’s collaboration with VSV Capital began in 2024 when it was selected for the Global Accelerating Support Program, in which VSV participated as a partner. The relationship has since strengthened through the co-development and launch of a localized version of Uproot’s AI-powered Bitsaving platform tailored for Vietnamese investors.

“As VSV Capital’s Web3 Advisor, my mission is to help Vietnamese people truly understand Bitcoin—the first and most important form of Web3 digital money—and guide them toward investing wisely, easily, and for the long term,” said Kang. “I also aim to help Vietnam stay ahead in the rapidly evolving digital economy.”

Looking ahead, Uproot Company expects its AI and on-chain data analytics-based smart investment platform to become a trusted tool for long-term wealth building in Vietnam. As part of this mission, Uproot is spearheading the Vietnamese translation and distribution of the ‘Bitcoin Diploma’, an official educational curriculum from El Salvador’s Ministry of Education. This initiative is designed to improve digital asset literacy and promote informed, sustainable investment practices in a market where structured education on Bitcoin remains limited.

Through these strategic efforts, Uproot aims to empower Vietnamese investors with the knowledge, tools, and confidence to participate in the emerging global digital asset economy.

About Uproot Company

Founded in January 2022, Uproot Company is the creator of Bitsaving, South Korea’s first AI-powered Bitcoin accumulation investment platform based on on-chain data. Bitsaving is one of Korea’s most widely used cryptocurrency services outside of exchanges. In March 2025, Uproot became the first Korean company to join Bitcoin for Corporations, a global initiative by Strategy and Bitcoin Magazine supporting corporate Bitcoin adoption. Uproot is dedicated to helping individuals, businesses, and institutions invest in Bitcoin intelligently, sustainably, and strategically.

INCUBASE Studio Debuts New Curation “Dragon Ball: Heroes Rise” Asia Tour in Thailand, Expanding Its Creative Portfolio of Immersive IP Curations Across Asia

HONG KONG, Aug. 15, 2025 /PRNewswire/ — INCUBASE Studio proudly unveils its latest original curation, “Dragon Ball: Heroes Rise”, marking its debut in Bangkok, Thailand at ICONSIAM from August 1 to October 19, 2025. This large-scale immersive experience celebrates the legendary Dragon Ball franchise, reimagined through INCUBASE Studio‘s distinctive approach to narrative-led design, interactive storytelling and emotionally charged fan engagement.

Representatives gathered on stage for the opening ceremony of “Dragon Ball: Heroes Rise” Asia Tour in Thailand, celebrating the grand launch together with fans.
Representatives gathered on stage for the opening ceremony of “Dragon Ball: Heroes Rise” Asia Tour in Thailand, celebrating the grand launch together with fans.

Curated in close collaboration with TOEI Animation, the experience takes visitors on a dynamic journey through the defining eras of Goku and other iconic characters who constantly push their limits in pursuit of strength and worthy rivals. Life-sized character installations, meticulously recreated animation scenes, interactive game challenges and photo spots are woven together in a story-driven flow, capturing the series’ energy, humour and heart. Inspired by the tension and spectacle of its most iconic battles, the design ensures every encounter draws visitors deeper into the Dragon Ball universe.

“As the curator of this exhibition, we are honoured to bring this legendary world to life through INCUBASE’s creativity and imagination, transforming it into a brand-new immersive experience for fans to see in a whole new light,” said Sion Yip, Founder and CEO of INCUBASE Studio. “I believe this journey will resonate deeply with fans, rekindling the excitement and joy of those cherished days.”

The launch of “Dragon Ball: Heroes Rise” Asia Tour comes as INCUBASE Studio‘s other acclaimed curations continue to captivate audiences across Asia. In Hong Kong, the debut “Crayon Shinchan: Space & Time Adventure Interactive Exhibition” has entered its highly anticipated second phase and will conclude on 31 August. In Seoul, The Conjuring Universe Tour is delivering a spine-chilling, walk-through horror experience from 26 July to 19 October, immersing visitors in the terrifying world of the blockbuster film series. Meanwhile, the One Piece “The Great Era of Piracy” Exhibition Asia Tour has just wrapped its seventh stop in Shanghai, with its eighth stop now running in Taiwan from 21 June to 19 October, continuing to bring the beloved pirate adventure to fans across the region.

These milestones reflect INCUBASE Studio‘s unwavering passion for creating immersive, authentic and culturally resonant experiences. Every curation is carefully crafted to merge compelling storytelling with design innovation, transforming beloved IPs into multi-sensory worlds that engage, inspire and connect people. With a growing portfolio that spans genres, generations and geographies, INCUBASE Studio remains dedicated to setting new benchmarks in exhibition experiences, continuing to expand its creative footprint across Asia and beyond.

About INCUBASE Studio
INCUBASE Studio curates diverse IP-themed exhibition experiences that celebrate and connect fandoms worldwide. The Studio brings stories to life by blending captivating content with engaging installations and interactive devices. Since its establishment in Hong Kong in 2021, INCUBASE Studio has been committed to realising and promoting Touring Experiences across Asia, pushing the boundaries of physical venues and experiences.

In 2024, INCUBASE Studio established INCUBASE Arena in Hong Kong and Malaysia as hubs for Japanese anime culture and entertainment experiences, continuously hosting a variety of popular anime IP exhibitions and related events to build a vibrant community for anime fans in both regions and the surrounding areas.
www.incubasestudio.com