BORROWINGS (Tables)
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12 Months Ended |
Feb. 28, 2026 |
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| Debt Disclosure [Abstract] |
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| Schedule of Short-term borrowings |
| Schedule of Short-term borrowings |
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Maturity |
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Effective
Interest Rate |
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As of
February 28,
2025 |
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As of
February 28,
2026 |
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As of
February 28,
2026 |
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JPY |
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JPY |
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US$ |
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(In thousands) |
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| Sumitomo Mitsui Banking Corporation(1) |
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March 2026 |
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1.45% |
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- |
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300,000 |
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1,922 |
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| MUFG Bank, Ltd.(2) |
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April 2026 |
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1.51% |
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- |
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500,000 |
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3,204 |
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| Total short-term borrowings |
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- |
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800,000 |
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5,126 |
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| (1) |
On October 31, 2025, the Company entered into a commitment line agreement with Sumitomo Mitsui Banking Corporation with a maximum commitment of JPY 2,500.0 million. The facility’s commitment period commences on October 31, 2025, and terminates on October 31, 2026. Pursuant to the agreement, the maximum borrowing limit for this period is JPY 2,500.0 million. The borrowings are primarily used for working capital purposes. As of February 28, 2026, the unused credit line balance was JPY2,200 million ($14.1 million). |
| (2) |
On February 25, 2025, the Company entered into a revolving credit facility agreement with MUFG Bank, Ltd. with a maximum commitment of JPY3,000.0 million. The facility’s commitment period commences on February 28, 2025, and terminates on February 25, 2028. |
Pursuant to the agreement,
the maximum borrowing limits for the respective periods are as follows:
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JPY2,000.0 million for the period from February 28, 2025, to February 27, 2026; |
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● |
JPY2,500.0 million for the period from February 28, 2026, to February 27, 2027; and |
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● |
JPY3,000.0 million for the period from February 28, 2027, to the commitment termination date (February 25, 2028). |
The borrowings are primarily used for working capital purposes. As of February 28, 2026, the unused credit line balance was JPY2,000 million ($12.8 million).
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| Schedule of Long-term borrowings |
| Schedule of Long-term borrowings |
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|
Maturity |
|
Effective
Interest Rate |
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As of
February 28,
2025 |
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As of
February 28,
2026 |
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As of
February 28,
2026 |
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JPY |
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JPY |
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US$ |
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|
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(In thousands) |
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| The Awaji Shinkin Bank(1) |
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September 2027 - September 2030 |
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0.60% - 1.25% |
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1,369,156 |
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1,220,620 |
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7,823 |
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| Sumitomo Mitsui Banking Corporation(2) |
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November 2026 - January 2030 |
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0.54% - 1.19% |
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1,974,026 |
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1,538,700 |
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9,860 |
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| The Iyo Bank, Ltd. |
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March 2026 |
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1.28% |
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83,339 |
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11,130 |
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71 |
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| The Bank of Fukuoka, Ltd. |
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September 2025 |
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0.86% |
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58,343 |
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- |
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- |
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| MUFG Bank, Ltd. |
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March 2026 - March 2029 |
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0.30% - 0.79% |
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1,591,683 |
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1,291,695 |
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8,277 |
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| The Minato Bank, Ltd. |
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June 2028 |
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0.68% |
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417,540 |
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241,677 |
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1,549 |
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| The Hiroshima Bank, Ltd. |
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April 2026 |
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1.00% |
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116,652 |
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16,644 |
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|
107 |
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| The San-in Godo Bank, Ltd. |
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November 2026 |
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0.80% |
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|
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174,990 |
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74,982 |
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|
480 |
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| The Kiyo Bank, Ltd. |
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January 2028 |
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1.05% |
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291,675 |
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191,679 |
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1,228 |
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| Total long-term borrowings |
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6,077,404 |
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4,587,127 |
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29,395 |
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| Current portion of long-term borrowings |
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1,804,164 |
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2,021,924 |
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12,957 |
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| Non-current portion of long-term borrowings |
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4,273,240 |
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2,565,203 |
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16,438 |
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| (1) |
As of February 28, 2025 and February 28, 2026, JPY82.6 million and JPY66.6 million ($0.4 million) were guaranteed by Credit Guarantee Association, a Japanese governmental affiliate agency which supplements private companies with credit, respectively. |
| (2) |
As of February 28, 2025 and February 28, 2026, JPY60.0 million and JPY60.0 million ($0.4 million) were guaranteed by Credit Guarantee Association, a Japanese governmental affiliate agency which supplements private companies with credit, respectively. |
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| Schedule of future loan obligations |
| Schedule of future loan obligations |
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JPY |
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US$ |
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(In thousands) |
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| Fiscal year |
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| 2027 |
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2,021,924 |
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12,957 |
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| 2028 |
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1,332,208 |
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8,537 |
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| 2029 |
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883,555 |
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5,662 |
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| 2030 |
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311,852 |
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1,998 |
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| 2031 |
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37,588 |
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|
241 |
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| Thereafter |
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- |
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- |
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| Total long-term borrowings |
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4,587,127 |
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29,395 |
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