Loans

6 Months Ended

Oct. 31, 2025

Note 10 – Loans

Outstanding balances of loans consist of the following:

As of April 30, 2025	Balance			Maturity Date	Effective Interest Rate			Collateral/ Guarantee
	JPY

Kiraboshi Bank		24,563,000		Mar. 31, 2030		1.6	%	Guaranteed by Mr. Satoshi Kobayashi and Tokyo guarantee
Shoko Chukin Bank		24,500,000		Sep. 30, 2027		2.69	%
Total loans		49,063,000
Less: Loan origination fee		-
Current portion of long – term loan		(15,204,000	)
Long-term loan – due over one year		33,859,000

As of October 31, 2025	Balance			Balance			Maturity Date	Effective Interest Rate			Collateral/ Guarantee
	JPY			USD

Kiraboshi Bank		22,061,000			143,207		Mar. 31, 2030		1.6	%	Guaranteed by Mr. Satoshi Kobayashi and Tokyo guarantee
Shoko Chukin Bank		19,400,000			125,933		Sep. 30, 2027		2.69	%
Total loans		41,461,000			269,140
Less: Loan origination fee		-			-
Current portion of long – term loan		(13,937,000	)		(90,471	)
Long-term loan – due over one year		27,524,000			178,669

Interest expense incurred from bank loans and secured borrowings for the six months ended October 31, 2024 and 2025 amounted to JPY1,196,881 and JPY2,578,165 (USD 16,736). As of October 31, 2025, the Company’s future loan obligations according to the terms of the loan agreement are as follows:

	JPY		USD
Remainder of 2026		7,602,000		49,348
2027		15,204,000		98,695
2028		8,687,000		56,391
2029		5,004,000		32,483
2030		4,964,000		32,223
Thereafter		-		-
Total		41,461,000		269,140