v3.26.1
BANK AND OTHER BORROWINGS
 12 Months Ended
Mar. 31, 2026
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:

 

                     
       Thousands of Yen 
Indebtedness   Weighted
average
interest rate* 		  

Weighted

average

years

to maturity*

   Balance as of
March 31, 2026		    Balance as of
March 31, 2025		 
Short-term loans                    
Secured loans                    
Fixed rate loans   2.64%   0.46   ¥589,020   ¥1,842,700 
Variable rate loans (*1)   2.51%   0.70    983,230    - 
Unsecured loans                    
Fixed rate loans   2.81%   0.17    33,782    50,000 
Variable rate loans (*1)   1.98%   0.17    2,368    - 
Aggregate outstanding principal balances   2.57%   0.59   ¥1,608,400   ¥1,892,700 
                     
Less: unamortized debt issuance costs            ¥(2,742)  ¥(7,441)
Short-term loans            ¥1,605,658   ¥1,885,259 
                     
Long-term loans                    
Secured loans                    
Fixed rate loans   2.93%   2.13    4,126,972    4,991,739 
Variable rate loans (*2)   2.62%   2.46    10,664,760    5,006,510 
Unsecured loans                    
Fixed rate loans   1.48%   5.36    683,064    960,379 
Variable rate loans (*2)   1.80%   3.23    67,987    - 
Aggregate outstanding principal balances   2.65%   2.52   ¥15,542,783   ¥10,958,628 
                     
Less: unamortized debt issuance costs            ¥(80,357)  ¥(74,678)
Less: current portion             (4,878,372)   (4,025,343)
Non-current portion            ¥10,584,054   ¥6,858,607 

 

*Pertained to information for loans outstanding as of March 31, 2026.
  
*1 Annual interest rate was short-term prime rate in Japan +2.13%.
   
*2 Annual interest rate was long-term prime rate in Japan +2.80%.

 

 

LOGPROSYLE INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

The Group borrowed funds from various financial institutions for the purchase of real estate properties and for working capital purposes.

 

Interest expenses for short-term and long-term loans were ¥316,861 thousand, ¥198,476 thousand and ¥352,904 thousand for the years ended March 31, 2026, 2025 and 2024, respectively.

 

Included in real estate inventory was capitalized interest of ¥158,134 thousand, ¥124,788 thousand and ¥138,376 thousand for the years ended March 31, 2026, 2025 and 2024, respectively.

 

The term deposits, inventories, and property, plant and equipment, net, pledged as collateral for secured loans as of March 31, 2026 and 2025 are as follows:

 

  

March 31, 2026

  

March 31, 2025

 
   Thousands of Yen 
  

March 31, 2026

  

March 31, 2025

 
Term deposits  ¥-   ¥5,000 
Inventories   14,652,292    13,137,928 
Property, plant and equipment, net   82,434    84,386 
Total  ¥14,734,726   ¥13,227,314 

 

Compensating balances that do not legally restrict the use of cash were ¥30,030 thousand and ¥26,400 thousand as of March 31, 2026 and 2025, respectively.

 

As of March 31, 2026, future minimum payments for long-term loans are as follows:

 

   Thousands of Yen 
Fiscal Years Ending March 31, 

Principal

Repayment

 
2027  ¥4,905,968 
2028   6,935,967 
2029   3,022,148 
2030   165,193 
2031   98,089 
Thereafter   415,418 
Total  ¥15,542,783 

 

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

 

 

LOGPROSYLE INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS