| SCHEDULE OF BANK AND OTHER BORROWINGS |
As of June 30, 2026 and December 31, 2025, the Company’s borrowings from banks and other financial institutions consist of the following:
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
Indebtedness |
|
Weighted
Average
Interest
Rate* |
|
|
Weighted
Average
Years to
Maturity* |
|
|
June 30,
2026 |
|
|
December 31,
2025 |
|
Guaranteed loans |
|
|
|
|
|
|
|
|
|
|
|
|
Fixed rate loan |
|
|
1.25 |
% |
|
|
1.32 |
|
|
$ |
40,941 |
|
|
$ |
58,412 |
|
Variable rate loans |
|
|
1.72 |
% |
|
|
1.71 |
|
|
|
7,290,698 |
|
|
|
7,635,865 |
|
Subtotal |
|
|
1.72 |
% |
|
|
1.71 |
|
|
|
7,331,639 |
|
|
|
7,694,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsecured loans |
|
|
|
|
|
|
|
|
|
|
|
|
Fixed rate loans |
|
|
2.60 |
% |
|
|
0.17 |
|
|
|
125,546 |
|
|
|
149,204 |
|
Variable rate loans |
|
|
1.15 |
% |
|
|
4.23 |
|
|
|
29,104,943 |
|
|
|
33,777,069 |
|
Variable rate loans borrowed under revolving lines of credit |
|
|
1.24 |
% |
|
|
0.96 |
|
|
|
1,192,688 |
|
|
|
1,212,934 |
|
Subtotal |
|
|
1.16 |
% |
|
|
4.08 |
|
|
|
30,423,177 |
|
|
|
35,139,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans |
|
|
1.27 |
% |
|
|
3.62 |
|
|
|
37,754,816 |
|
|
|
42,833,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: current portion |
|
|
|
|
|
|
|
|
(11,816,235 |
) |
|
|
(9,099,046 |
) |
Non-current portion |
|
|
|
|
|
|
|
$ |
25,938,581 |
|
|
$ |
33,734,438 |
|
* Pertained to information for loans outstanding as of June 30, 2026.
|
| SCHEDULE OF LINE Of CREDIT AND BORROWED AMOUNTS |
As of June 30, 2026 and December 31, 2025, the Company had borrowings under revolving lines of credit as follows:
|
|
|
|
|
|
|
|
|
Line of credit * |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
Maximum available amounts |
|
$ |
1,883,192 |
|
|
$ |
1,915,158 |
|
Borrowed amounts ** |
|
$ |
1,192,688 |
|
|
$ |
1,212,934 |
|
* These revolving lines of credit automatically renew annually unless canceled in writing. ** Borrowings typically have three-month to one-year terms.
|
| SCHEDULE OF OUTSTANDING LOANS |
The guarantee information of the Company’s outstanding loans as of June 30, 2026 and December 31, 2025 consists of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30,
2026 |
|
|
December 31,
2025 |
|
Co-guaranteed by CEO of subsidiaries within the Company’s organizational structure and Tokyo Credit Guarantee Association |
|
$ |
84,352 |
|
|
$ |
122,047 |
|
Guaranteed by subsidiaries within the Company’s organizational structure |
|
$ |
7,247,287 |
|
|
$ |
7,572,230 |
|
|
| SCHEDULE OF MATURITIES OF LONG TERM DEBT |
As of June 30, 2026, future minimum payments for bank and other borrowings are as follows:
|
|
|
|
|
Years ending December 31, |
|
Principal
Repayment |
|
Remainder of 2026 |
|
$ |
8,257,452 |
|
2027 |
|
|
10,395,723 |
|
2028 |
|
|
7,189,992 |
|
2029 |
|
|
6,667,664 |
|
2030 |
|
|
5,243,985 |
|
Thereafter |
|
|
— |
|
Total |
|
$ |
37,754,816 |
|
|