Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 39

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 5
Chunk 39
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Item 5. Operating and Financial
Review and Prospects

You should read the following discussion and
analysis of our financial condition and results of operations in conjunction with our audited consolidated financial statements and the
related notes included elsewhere in this annual report. This discussion contains forward-looking statements that involve risks and uncertainties.
Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking statements
as a result of various factors, including those set forth under “ Item 3. Key Information - 3. D. Risk Factors” and
elsewhere in this annual report.

Overview