| Borrowings |
Note 10 – Borrowings As of April 30, 2026, the Company had total third-party borrowings of JPY33,859,000 (USD216,131), of which JPY15,204,000 (USD97,051) was current and JPY15,204,000 (USD97,051) was non-current. Outstanding balances of borrowings are as follows: As of April 30, 2025 | | | Balance
JPY | | | Maturity
Date | | Effective
Interest
Rate | | | Collateral/
Guarantee | | 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 April 30, 2026 | | | Balance
JPY | | | Balance
USD | | | Maturity
Date | | Effective
Interest
Rate | | | Collateral/
Guarantee | | Kiraboshi Bank | | | 19,559,000 | | | | 124,850 | | | Mar. 31, 2030 | | | 1.6 | % | | Guaranteed by Mr. Satoshi Kobayashi and Tokyo guarantee | | Shoko Chukin Bank | | | 14,300,000 | | | | 91,281 | | | Sep. 30, 2027 | | | 2.69 | % | | | | Total borrowings | | | 33,859,000 | | | | 216,131 | | | | | | | | | | | Less: current portion | | | (15,204,000 | ) | | | (97,051 | ) | | | | | | | | | | Long-term borrowings | | | 18,655,000 | | | | 119,080 | | | | | | | | | | Interest expense on the parent company’s third-party bank loans for the years ended April 30, 2024, 2025 and 2026 amounted to JPY3,427,580, JPY1,770,933 and JPY891,496 (USD5,691), respectively. The maturity schedule below relates to the parent company’s JPY33,859,000 (USD216,131) of bank loans. | Years ending April 30, | | JPY | | | USD | | | 2027 | | | 15,204,000 | | | | 97,051 | | | 2028 | | | 8,687,000 | | | | 55,451 | | | 2029 | | | 5,004,000 | | | | 31,942 | | | 2030 | | | 4,964,000 | | | | 31,687 | | | 2031 | | | - | | | | - | | | Thereafter | | | - | | | | - | | | Total | | | 33,859,000 | | | | 216,131 | | Related-party indebtedness is presented separately in Note 16.
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