v3.25.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Expected Economic Useful Lives The expected economic useful lives of the Company’s assets are as follows:
    Useful life
Property and buildings   35-50 years
Land   Infinite
Leasehold improvements   Lesser of useful life and lease term
Equipment and furniture   2-18 years
Automobiles   4-6 years
Software   5 years
Schedule of Total Revenue by Geographic Areas

The summary of the Company’s total revenue by geographic areas for the fiscal years ended March 31, 2025, 2024, and 2023 was as follows

 

   For the Fiscal Years Ended March 31, 
   2025   2024   2023 
Japan domestic market  $62,190,446   $57,381,922   $72,190,276 
Hong Kong market   104,685,311    100,982,052    40,960,511 
The United States market   19,515,109    17,193,899    8,808,766 
Other overseas markets   23,728,372    20,123,442    47,764,793 
Total revenue  $210,119,238   $195,681,315   $169,724,346 
Schedule of Total Revenue by Product Categories

The summary of the Company’s total revenue by product categories for the fiscal years ended March 31, 2025, 2024, and 2023 was as follows:

 

   For the Fiscal Years Ended March 31, 
   2025   2024   2023 
Beauty products  $81,374,101   $50,114,893   $128,781,665 
Health products   6,869,364    4,931,671    18,701,204 
Sundry products   20,275,598    6,083,770    11,033,924 
Luxury products   35,357,960    90,189,723    
-
 
Electronic products   47,969,875    34,901,681    
-
 
Collectible cards and trendy toys   11,408,517    
-
    
-
 
Other products and services (1)   6,863,823    9,459,577    11,207,553 
Total revenue  $210,119,238   $195,681,315   $169,724,346 

 

(1) Other products and services include primarily trading cards and food, such as soft drinks, packaged snacks, tea and coffee, fruit juice, and mineral water, and alcoholic beverages, cigarettes, and pet food. It also includes revenue from advertising services through KOLs as well as supporting services to the online celebrities.
Schedule of Total Revenue by Distribution Channels

The summary of the Company’s total revenue by distribution channels for the fiscal years ended March 31, 2025, 2024, and 2023 was as follows:

 

   For the Fiscal Years Ended March 31, 
   2025   2024   2023 
Directly-operated physical stores  $17,105,488   $14,951,952   $11,606,180 
Online stores and services   7,493,259    10,705,449    20,700,011 
Franchise stores and wholesale customers   185,520,491    170,023,914    137,418,155 
Total revenue  $210,119,238   $195,681,315   $169,724,346 
Schedule of Currency Exchange Rates used in Creating Consolidated Financial Statements

The following table outlines the currency exchange rates that were used in creating the consolidated financial statements in this report:

 

    March 31, 2025   March 31, 2024   March 31, 2023
    Year-end 
spot rate		   Average
rate		   Year-end
spot rate		   Average
rate		   Year-end 
spot rate		   Average
rate
US$ against YEN   ¥1=US$0.00666   ¥1=US$0.00657   ¥1=US$0.00661   ¥1=US$0.00692   ¥1=US$0.00752   ¥1=US$0.00740
US$ against HK$   HK$1=US$0.12856   HK$1=US$0.12833   HK$1=US$0.12778   HK$1=US$0.12780   HK$1=US$0.12739   HK$1=US$0.12757
US$ against RMB   RMB1=US$0.13769   RMB1=US$0.13858   RMB1=US$0.13850   RMB1=US$0.13953   RMB1=US$0.14560   RMB1=US$0.14607
US$ against MYR   MYR1=US$0.22540   MYR1=US$0.22226   MYR1=US$0.21175   MYR1=US$0.21548   MYR1=US$0.22659   MYR1=US$0.22499
US$ against CAD   CAD1=US$0.70018   CAD1=US$0.71899   CAD1=US$0.73855   CAD1=US$0.74162   -   -
Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the fiscal years ended March 31, 2025, 2024, and 2023:

 

   For the Fiscal Years Ended March 31, 
   2025   2024   2023 
Numerator:            
Net income (loss) – basic  $6,638,488   $7,478,936   $(8,048,822)
Add: change in fair value of warrants liabilities   2,050,211    
-
    
-
 
Net income (loss) for the year - diluted  $8,688,699   $7,478,936   $(8,048,822)
                
Denominator:               
Weighted average shares outstanding - basic   42,242,610    37,264,162    36,250,054 
Add: effect of dilutive securities   2,635,578    
-
    
-
 
Weighted average shares outstanding - diluted   44,878,189    37,264,162    36,250,054 
                
Earnings (loss) per share - basic  $0.16   $0.20   $(0.22)
Earnings (loss) per share - diluted  $0.19   $0.20   $(0.22)