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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