v3.26.3
Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2026
Income Taxes [Abstract]  
Schedule of Components of Loss Before Income Taxes

The components of loss before income taxes are as follows:

 

For the years ended April 30,   2024     2025     2026     2026  
    JPY     JPY     JPY     USD  
Domestic (Japan)     (336,339,168 )     (256,696,946 )     (2,422,369,760 )     (15,462,593 )
Foreign     -       -       (319,862,071       (2,041,759 )
Total loss before income taxes     (336,339,168 )     (256,696,946 )     (2,742,231,831 )     (17,504,352 )
Schedule of Provision for Income Taxes

The significant components of the provision for income taxes are as follows:

 

For the years ended April 30,   2024     2025     2026     2026  
    JPY     JPY     JPY     USD  
Current income tax expense (benefit)     -            -            -             -  
Deferred income tax expense (benefit)     (188,496 )     -       -       -  
Total provision for income taxes     (188,496 )     -       -       -  
Schedule of Schedule of Rate Reconciliations, Prior to Adoption

For FY2026, the Company uses the Japanese national statutory income tax rate applicable to the parent company, its jurisdiction of domicile, as the starting point for the reconciliation. The rate reconciliation is presented using the categories required by ASU 2023-09.

 

Year ended April 30, 2026   JPY     %     USD  
Tax at Japanese statutory income tax rate     (948,537,990 )     34.6 %     (6,054,755 )
State and local income tax, net of national income tax effect     -       -       -  
Foreign tax effects     43,461,618       (1.6 )%     277,426  
Effect of changes in tax laws or rates     -       -       -  
Effect of cross-border tax laws     -       -       -  
Tax credits     -       -       -  
Changes in valuation allowances     187,858,423       (6.9 )%     1,199,147  
Nontaxable or nondeductible items – acquisition-related expense     699,430,848       (25.5 )%     4,464,642  
Outside-basis / related-company share basis difference     -       -       -  
Other nontaxable or nondeductible items     745,830       0.0 %     4,761  
Other     17,041,271       (0.6 )%     108,779  
Effective income tax rate / provision     -       -       -  

The comparative FY2024 and FY2025 rate reconciliations, prior to adoption of ASU 2023-09, were as follows:

 

Year ended April 30,   2024     2025  
Japanese statutory income tax rate     34.6 %     34.6 %
Deferred IPO costs     11.8 %     —  
Non-taxable income     1.0 %     —  
Valuation allowance     (45.9 )%     (33.4 )%
Share-based compensation     (0.2 )%     —  
Non-deductible compensation     —       —  
Others     (1.2 )%     (1.2 )%
Effective tax rate     0.1 %     0.0 %
Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are recognized for temporary differences and tax loss carryforwards and are measured using enacted tax rates expected to apply when the related amounts are recovered or settled. The April 30, 2025 comparative amounts below reflect the parent company.

 

As of April 30,   2025     2026     2026  
    JPY     JPY     USD  
Japan tax loss carryforwards     438,955,724       565,712,853       3,611,087  
Other Japan temporary differences     29,932,840       35,177,137       224,544  
Foreign tax loss carryforwards     -       144,895,706       924,906  
Foreign / other deferred tax assets     -       55,260,105       352,739  
Gross deferred tax assets     468,888,564       801,045,801       5,113,276  
Valuation allowance     (466,899,408 )     (784,807,452 )     (5,009,623 )
Deferred tax assets, net     1,989,156       16,238,349       103,653  
Parent / other deferred tax liabilities     (1,989,156 )     (3,854,002 )     (24,601 )
Foreign / other deferred tax liabilities     -       (12,384,347 )     (79,052 )
Deferred tax liabilities     (1,989,156 )     (16,238,349 )     (103,653 )
Net deferred tax asset (liability)     -       -       -  
Schedule of Income Taxes Paid

Income taxes paid, net of refunds received, are presented by jurisdiction below.

 

Year ended April 30, 2026   JPY     USD  
Japan – national income taxes     -       -  
Japan – local income taxes     -       -  
Cyprus     -       -  
Germany     89,560       572  
Switzerland     -       -  
United States     -       -  
Other foreign jurisdictions     -       -  
Total income taxes paid, net of refunds     89,560       572