XML 45 R18.htm IDEA: XBRL DOCUMENT
v3.25.2

Long-Term Debts | 6 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Sep. 30, 2024
Long-Term Debts [Abstract] |  |
LONG-TERM DEBTS | 12. LONG-TERM DEBTS As of March 31, 2025 and September 30, 2024, long-term debts consist of the following:
|  |  |  |  |  |  |  |  | As of March 31, 2025 |  |  | As of September 30, 2024 |  |  |
Bank and other financial institution |  | Annual Interest Rate |  |  | Start |  | End |  | Long- term |  |  | Long- term (current portions) |  |  | Long- term |  |  | Long- term (current portions) |  |  | Pledge
|  |  |  |  |  |  |  |  | USD |  |  | USD |  |  |
The Shoko Chukin Bank |  |  | 1.11 | % |  | 05/26/2020 |  | 04/25/2030 |  |  | 82,456 |  |  |  | 20,174 |  |  |  | 96,838 |  |  |  | 21,110 |  |  |
The Shoko Chukin Bank |  |  | 1.50 | % |  | 02/04/2022 |  | 01/27/2025 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 21,780 |  |  |
Mizuho Bank |  |  | 0.83 | % |  | 03/25/2020 |  | 03/25/2025 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,855 |  |  |
Mizuho Bank |  |  | 2.00 | % |  | 06/01/2021 |  | 06/01/2031 |  |  | 105,070 |  |  |  | 20,013 |  |  |  | 120,419 |  |  |  | 20,942 |  |  |
Japan Finance Corporation |  |  | 1.11 | % |  | 07/16/2020 |  | 06/30/2030 |  |  | 140,227 |  |  |  | 36,424 |  |  |  | 164,328 |  |  |  | 38,115 |  |  |
Musashino Bank |  |  | 1.50 | % |  | 05/31/2022 |  | 06/02/2025 |  |  | - |  |  |  | 10,967 |  |  |  | - |  |  |  | 46,408 |  |  |
Japan Finance Corporation |  |  | 0.46 | % |  | 06/09/2020 |  | 04/20/2030 |  |  | 85,390 |  |  |  | 20,494 |  |  |  | 98,290 |  |  |  | 21,445 |  |  |
Japan Finance Corporation |  |  | 0.38 | % |  | 04/23/2021 |  | 03/20/2031 |  |  | 34,022 |  |  |  | 7,372 |  |  |  | 38,569 |  |  |  | 7,714 |  |  |
Kiraboshi Bank |  |  | 0.50 | % |  | 06/27/2023 |  | 05/30/2032 |  |  | 286,858 |  |  |  | 43,362 |  |  |  | 321,116 |  |  |  | 45,376 |  |  |
Zhongli International Financial Leasing Co. LTD |  |  | 14.56 | % |  | 08/11/2022 |  | 08/15/2025 |  |  | - |  |  |  | 57,420 |  |  |  | - |  |  |  | 130,625 |  |  |
Zhongli International Financial Leasing Co. LTD |  |  | 13.63 | % |  | 07/26/2022 |  | 07/26/2025 |  |  | - |  |  |  | 27,331 |  |  |  | - |  |  |  | 68,332 |  |  | Vehicle
|  |  |  |  |  |  |  |  |  |  | 734,023 |  |  |  | 243,557 |  |  |  | 839,560 |  |  |  | 428,702 |  |  |
The long-term debts as of March 31, 2025 were primarily obtained from five banks and one financial institution, with interest rates ranging from 0.38% to 14.56% per annum. The long-term debts as of September 30, 2024 were primarily obtained from five banks and one financial institution, with interest rates ranging from 0.38% to 14.56% per annum. The interest expenses were $33,020 and $47,115 for the six months ended March 31, 2025 and 2024, respectively. The weighted average interest rates of long-term debts outstanding were 2.21% and 3.02% per annum as of March 31, 2025 and September 30, 2024, respectively. As of March 31, 2025 and September 30, 2024, there was no event of default on long-term debts occurred. As of March 31, 2025 and September 30, 2024, no long-term debts were guaranteed by the Company or its subsidiaries. As of March 31, 2025 and September 30, 2024, a vehicle with carrying value of $24,988 and $77,550 was pledged against one long-term debt. On January 17, 2022, the Group bought a vehicle and paid in full. On July 26, 2022, the Group entered into a loan agreement with Zhongli International Financial Leasing Co. LTD (the “Lessor”) to pledge the same vehicle and to receive RMB1,500,000 ($210,867) from the Lessor. The transaction is classified as “failed” sale and leaseback transactions, as the control of the vehicle does not transfer to the lessor. Consequently, the received consideration from the lessor is accounted for as a liability. As of March 31, 2025 and September 30, 2024, the current portion of the liability recorded in short-term debt were $27,331 and $68,332. The Group was not subject to any financial covenants as of March 31, 2025 and September 30, 2024. Debt Maturities The contractual maturities of the Group’s long-term debts as of March 31, 2025 were as follows:
|  | Principle amount |
Within 1 year |  | $ | 243,557 |
1 - 2 years |  |  | 141,134 |
2 - 3 years |  |  | 141,134 |
3 - 4 years |  |  | 141,134 |
4 - 5 years |  |  | 141,134 |
Over 5 years |  |  | 169,487 |
Total |  | $ | 977,580 |
| 12. LONG-TERM DEBTS As of September 30, 2024 and 2023, long-term debts consist of the following:
|  |  |  |  |  |  |  |  |  |  | As of September 30, 2024 |  |  | As of September 30, 2023 |  |  |
Bank and other financial institution |  | Annual Interest Rate |  |  | Start |  |  | End |  |  | Long- term |  |  | Long- term (current portions) |  |  | Long- term |  |  | Long- term (current portions) |  |  | Pledge
|  |  |  |  |  |  |  |  |  |  | USD |  |  | USD |  |  |
The Shoko Chuk in Bank |  |  | 1.50 | % |  | 05/09/2019 |  |  | 04/25/2024 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 26,768 |  |  |
The Shoko Chukin Bank |  |  | 1.11 | % |  | 05/26/2020 |  |  | 04/25/2030 |  |  |  | 96,838 |  |  |  | 21,110 |  |  |  | 113,070 |  |  |  | 20,237 |  |  |
The Shoko Chukin Bank |  |  | 1.50 | % |  | 02/04/2022 |  |  | 01/27/2025 |  |  |  | - |  |  |  | 21,780 |  |  |  | 20,879 |  |  |  | 67,456 |  |  |
Mizuho Bank |  |  | 0.83 | % |  | 03/25/2020 |  |  | 03/25/2025 |  |  |  | - |  |  |  | 6,855 |  |  |  | 6,572 |  |  |  | 13,411 |  |  |
Mizuho Bank |  |  | 2.00 | % |  | 06/01/2021 |  |  | 06/01/2031 |  |  |  | 120,419 |  |  |  | 20,942 |  |  |  | 135,515 |  |  |  | 20,076 |  |  |
Japan Finance Corporation |  |  | 1.11 | % |  | 07/16/2020 |  |  | 06/30/2030 |  |  |  | 164,328 |  |  |  | 38,115 |  |  |  | 194,071 |  |  |  | 36,539 |  |  |
Musashino Bank |  |  | 1.50 | % |  | 05/31/2022 |  |  | 06/02/2025 |  |  |  | - |  |  |  | 46,408 |  |  |  | 44,489 |  |  |  | 72,556 |  |  |
Japan Finance Corporation |  |  | 0.46 | % |  | 06/09/2020 |  |  | 04/20/2030 |  |  |  | 98,290 |  |  |  | 21,445 |  |  |  | 114,783 |  |  |  | 20,558 |  |  |
Japan Finance Corporation |  |  | 0.38 | % |  | 04/23/2021 |  |  | 03/20/2031 |  |  |  | 38,569 |  |  |  | 7,714 |  |  |  | 44,369 |  |  |  | 7,395 |  |  |
Kiraboshi Bank |  |  | 0.50 | % |  | 06/27/2023 |  |  | 05/30/2032 |  |  |  | 321,116 |  |  |  | 45,376 |  |  |  | 351,335 |  |  |  | 43,499 |  |  |
Caizhi Linghang (Xiamen) Investment Management Co., Ltd |  |  | 3.75 | % |  | 11/01/2022 |  |  | 10/31/2027 |  |  |  | - |  |  |  | - |  |  |  | 779,879 |  |  |  | - |  |  |
Zhongli International Financial Leasing Co. LTD |  |  | 14.56 | % |  | 08/11/2022 |  |  | 08/15/2025 |  |  |  | - |  |  |  | 130,625 |  |  |  | 125,640 |  |  |  | 137,061 |  |  |
Zhongli International Financial Leasing Co. LTD |  |  | 13.63 | % |  | 07/26/2022 |  |  | 07/26/2025 |  |  |  | - |  |  |  | 68,332 |  |  |  | 65,724 |  |  |  | 69,670 |  |  | Vehicle
|  |  |  |  |  |  |  |  |  |  |  |  | 839,560 |  |  |  | 428,702 |  |  |  | 1,996,326 |  |  |  | 535,226 |  |  |
The long-term debts as of September 30, 2024 were primarily obtained from five banks and one financial institution, with interest rates ranging from 0.38% to 14.56% per annum. The long-term debts as of September 30, 2023 were primarily obtained from five banks and two financial institutions, with interest rates ranging from 0.38% to 14.56% per annum. The interest expenses were $62,870, $102,350 and $57,270 for the years ended September 30, 2024, 2023 and 2022, respectively. The weighted average interest rates of long-term debts outstanding were 3.02% and 4.68% per annum as of September 30, 2024 and 2023, respectively. As of September 30, 2024 and 2023, there was no event of default on long-term debts occurred. As of September 30, 2024 and September 30, 2023, no long-term debts were guaranteed by the Company or its subsidiaries. As of September 30, 2024 and 2023, a vehicle with carrying value of $77,550 and $130,533 was pledged against one long-term debt. On January 17, 2022, the Group bought a vehicle and paid in full. On July 26, 2022, the Group entered into a loan agreement with Zhongli International Financial Leasing Co. LTD (the “Lessor”) to pledge the same vehicle and to receive RMB1,500,000 ($210,867) from the Lessor. The transaction is classified as “failed” sale and leaseback transactions, as the control of the vehicle does not transfer to the lessor. Consequently, the received consideration from the lessor is accounted for as a liability. As of September 30, 2024, the current portion of the liability is recorded in short-term debt ($68,332). The Group was not subject to any financial covenants as of September 30, 2024 and 2023. Debt Maturities The contractual maturities of the Group’s long-term debts as of September 30, 2024 were as follows:
|  | Principle amount |
Within 1 year |  | $ | 428,702 |
1 - 2 years |  |  | 147,686 |
2 - 3 years |  |  | 147,686 |
3 - 4 years |  |  | 147,686 |
4 - 5 years |  |  | 147,686 |
Over 5 years |  |  | 248,817 |
Total |  | $ | 1,268,263 |

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LongtermDebtCurrentAndNoncurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration