v3.25.2
BANK AND OTHER BORROWINGS
 12 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
BANK AND OTHER BORROWINGS

NOTE 10 — BANK AND OTHER BORROWINGS

 

The Group’s outstanding indebtedness borrowed from banks and other financial institutions, consist of the following:

 

SCHEDULE OF BANK AND OTHER BORROWINGS 

Indebtedness 

Weighted

average

interest

rate*

  

Weighted

average

years

to maturity*

  

Balance as

of

March 31,

2025

  

Balance as

of

March 31,

2024

 
       Thousands of Yen 
Indebtedness 

Weighted

average

interest

rate*

  

Weighted

average

years

to maturity*

  

Balance as

of

March 31,

2025

  

Balance as

of

March 31,

2024

 
Short-term loans                    
Secured loans                    
Fixed rate loans   2.55%   0.58   ¥1,842,700   ¥2,510,820 
Unsecured loans                    
Fixed rate loans   2.80%   0.67    50,000    75,001 
Aggregate outstanding principal balances   2.55%   0.58   ¥1,892,700   ¥2,585,821 
                     
Less: unamortized debt issuance costs            ¥(7,441)  ¥(11,087)
Short-term loans            ¥1,885,259   ¥2,574,734 
                     
Long-term loans                    
Secured loans                    
Fixed rate loans   2.61%   1.90    9,718,249    9,251,677 
Variable rate loans (*1)   3.50%   2.08    280,000    433,308 
Unsecured loans                    
Fixed rate loans   1.50%   5.50    960,379    1,027,037 
Aggregate outstanding principal balances   2.54%   2.22   ¥10,958,628   ¥10,712,022 
                     
Less: unamortized debt issuance costs            ¥(74,678)  ¥(87,885)
Less: current portion             (4,025,343)   (6,065,020)
Non-current portion            ¥6,858,607   ¥4,559,117 

 

*Pertained to information for loans outstanding as of March 31, 2025.
*1Annual interest rate was long-term prime rate in Japan + 2.35%.

 

The Group borrowed loans from various financial institutions for the purpose of purchasing real estate properties and for working capital purpose.

 

Interest expenses for short-term and long-term loans were ¥198,476 thousand, ¥352,904 thousand and ¥248,334 thousand for the years ended March 31, 2025, 2024 and 2023, respectively.

 

Included in real estate inventory was capitalized interest of ¥124,788 thousand, ¥138,376 thousand and ¥78,506 thousand for the years ended March 31, 2025, 2024 and 2023, respectively.

 

As of March 31, 2025 and 2024, term deposits, inventories and property, plant and equipment, net pledged as security under secured loans are as follows:

 

SCHEDULE OF SECURITY PLEDGED 

   March 31, 2025   March 31, 2024 
   Thousands of Yen 
   March 31, 2025   March 31, 2024 
Term deposits  ¥5,000   ¥15,001 
Inventories   13,137,928    13,226,634 
Property, plant and equipment, net   84,386    78,532 
Total  ¥13,227,314   ¥13,320,167 

 

The guaranty information for the Group’s outstanding loans as of March 31, 2025 and 2024, consist of the following:

 

SCHEDULE OF GUARANTY INFORMATION FOR THE GROUP’S OUTSTANDING LOANS 

   March 31, 2025   March 31, 2024 
   Thousands of Yen 
   March 31, 2025   March 31, 2024 
Amounts guaranteed by CEO          
Short-term loans          
Secured loans  ¥-   ¥25,000 
Unsecured loans   -    50,000 
Subtotal   -    75,000 
Long-term loans          
Secured loans   -    450,000 
Unsecured loans   -    121,168 
Subtotal   -    571,168 
Total  ¥-   ¥646,168 

 

Compensating balances that do not legally restrict the use of cash were ¥26,400 thousand and ¥20,850 thousand as of March 31, 2025 and 2024.

 

 

As of March 31, 2025, future minimum payments for long-term loans are as follows:

 

SCHEDULE OF FUTURE MINIMUM PAYMENT FOR LONG-TERM LOANS 

   Thousands of Yen 
Fiscal Years Ending March 31, 

Principal

Repayment

 
2026  ¥4,044,922 
2027   5,350,415 
2028   806,055 
2029   160,056 
2030   158,785 
Thereafter   438,395 
Total  ¥10,958,628 

 

There are no significant debt covenants related to short-term and long-term loans.