Photozou (PTZH) 10-Q 17 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	May 31, 2023	Jul. 17, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	May 31, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--11-30
Entity File Number	000-55806
Entity Registrant Name	Photozou Holdings, Inc.
Entity Central Index Key	0001627469
Entity Tax Identification Number	90-1260322
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Common Stock, Shares, Outstanding	8,000,000	8,000,000	8,000,000	8,000,000	8,000,000	8,000,000	8,000,000

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	May 31, 2023	Nov. 30, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 9,263	$ 19,104
Accounts receivable	3,647	7,981
Prepaid and other current assets	2,260	2,657
Sales tax recoverable	2,612	10,978
Inventories, net	45,101	58,780
TOTAL CURRENT ASSETS	62,883	99,500
NON-CURRENT ASSETS
Software, net	4,650	5,401
Advance payments	24,923	25,084
TOTAL ASSETS	92,456	129,985
CURRENT LIABILITIES
Accrued expenses	708	823
Due to related party	728,644	651,999
Long-term loan payable, current portion	10,131	10,197
TOTAL CURRENT LIABILITIES	739,483	663,019
Long-term loan payable, non-current portion	11,819	16,994
TOTAL LIABILITIES	751,302	680,013
Preferred stock ($0.0001 par value, 20,000,000 shares authorized; 0 issued and outstanding as of May 31, 2023 and November 30, 2022)
Common stock ($0.0001 par value, 500,000,000 shares authorized; 8,000,000 shares issued and outstanding as of May 31, 2023 and November 30, 2022)	800	800
Additional paid in capital	50,030	50,030
Accumulated deficit	(787,477)	(674,947)
Accumulated other comprehensive income	77,801	74,089
TOTAL STOCKHOLDERS’ DEFICIT	(658,846)	(550,028)
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT	$ 92,456	$ 129,985

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical)	May 31, 2023 $ / shares shares
Statement of Financial Position [Abstract]
preferred par value | $ / shares	$ 0.0001
preferred authorized	20,000,000
preferred issued	0
common par value | $ / shares	$ 0.0001
common authorized	500,000,000
common issued	8,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
REVENUES
Revenue from cameras sold	$ 16,475	$ 54,137	$ 32,729	$ 98,879
Service revenue	3,339	14,361	9,817	32,853
TOTAL REVENUES	19,814	68,498	42,546	131,732
COST OF REVENUES
Cost of revenue from cameras sold	11,492	39,310	23,912	69,594
Cost of service revenue	6,800	12,075	15,259	25,591
TOTAL COST OF REVENUES	18,292	51,385	39,171	95,185
GROSS PROFIT	1,522	17,113	3,375	36,547
OPERATING EXPENSES
General and administrative expenses	70,765	94,044	116,413	122,385
TOTAL OPERATING EXPENSES	70,765	94,044	116,413	122,385
OTHER INCOME	201	3,337	568	7,305
OTHER EXPENSES	29	43	60	93
NET LOSS	(69,071)	(73,637)	(112,530)	(78,626)
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	9,237	32,369	3,712	37,266
TOTAL COMPREHENSIVE LOSS	$ (59,834)	$ (41,268)	$ (108,818)	$ (41,360)
BASIC AND DILUTED NET LOSS PER COMMON STOCK	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED	8,000,000	8,000,000	8,000,000	8,000,000

Statements of Changes in Stockh

Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member]	Total
Common Stock, Shares, Outstanding					8,000,000
Balance, value	$ 800	$ 50,030	$ 12,575	$ (519,661)	$ (456,256)
Beginning balance, value at Nov. 30, 2021	800	50,030	12,575	(519,661)	(456,256)
Net loss				(4,989)	(4,989)
Foreign currency translation			4,897		4,897
Beginning balance, value at Nov. 30, 2021	800	50,030	12,575	(519,661)	(456,256)
Net loss					$ (78,626)
Common Stock, Shares, Outstanding					8,000,000
Balance, value	800	50,030	17,472	(524,650)	$ (456,348)
Beginning balance, value at Feb. 28, 2022	800	50,030	17,472	(524,650)	(456,348)
Net loss				(73,637)	(73,637)
Foreign currency translation			32,369		$ 32,369
Common Stock, Shares, Outstanding					8,000,000
Balance, value	800	50,030	49,841	(598,287)	$ (497,616)
Common Stock, Shares, Outstanding					8,000,000
Balance, value	800	50,030	74,089	(674,947)	$ (550,028)
Beginning balance, value at Nov. 30, 2022	800	50,030	74,089	(674,947)	(550,028)
Net loss				(43,459)	(43,459)
Foreign currency translation			(5,525)		(5,525)
Beginning balance, value at Nov. 30, 2022	800	50,030	74,089	(674,947)	(550,028)
Net loss					$ (112,530)
Common Stock, Shares, Outstanding					8,000,000
Balance, value	800	50,030	68,564	(718,406)	$ (599,012)
Beginning balance, value at Feb. 28, 2023	800	50,030	68,564	(718,406)	(599,012)
Net loss				(69,071)	(69,071)
Foreign currency translation			9,237		$ 9,237
Common Stock, Shares, Outstanding					8,000,000
Balance, value	$ 800	$ 50,030	$ 77,801	$ (787,477)	$ (658,846)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	May 31, 2023	May 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (112,530)	$ (78,626)
Adjustments to reconcile net loss to net cash:
Depreciation and amortization expenses	747	837
Changes in operating assets and liabilities:
Accounts receivable	4,470	2,649
Prepaid and other current assets	399	(124)
Sales tax recoverable	8,660	(9,046)
Inventories, net	18,348	18,505
Accrued expenses	84,861	69,315
Deferred revenue		(2,009)
Net cash provided by operating activities	4,955	1,501
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from due to related party	1,867
Repayment of due to related party	(7,219)
Repayments of long-term loan	(5,309)	(5,926)
Net cash used in financing activities	(10,661)	(5,926)
Net effect of exchange rate changes on cash	(4,135)	(7,393)
Net change in cash and cash equivalents	(9,841)	(11,818)
Cash and cash equivalents - beginning of period	19,104	68,312
Cash and cash equivalents - end of period	9,263	56,494
NON-CASH TRANSACTIONS
Expense paid by related party on behalf of the Company	84,977	95,718
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid	60	94
Income taxes paid

NOTE 1 - ORGANIZATION, DESCRIPT

NOTE 1 - ORGANIZATION, DESCRIPTION OF BUSINESS	6 Months Ended
	May 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 1 - ORGANIZATION, DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION, DESCRIPTION OF BUSINESS Photozou Holdings, Inc., (the “Company”) was incorporated under the laws of the State of Delaware on September 29, 2014. On May 8, 2018, the Company conducted a stock cancellation of the above 3,037,300 shares and the total funds of $75,933 were returned to investors. The cancellation of the shares and return of funds was due to the fact that we did not make an acquisition in the allotted time granted by Rule 419. On May 31, 2018, the Company entered into and consummated a Stock Purchase Agreement (the “Stock Purchase Agreement”) with Koichi Ishizuka, our President, CEO, and Director. At the closing of the Stock Purchase Agreement, Koichi Ishizuka transferred to the Company, 10,000 shares of common stock of Photozou Koukoku Co., Ltd., a Japan corporation (“Photozou Koukoku”), which represented all of its issued and outstanding shares, in consideration of 1,000,000 JPY ($9,190 USD as of the exchange rate May 31, 2018). The Company has since gained a 100% interest in the issued and outstanding shares of Photozou Koukoku’s common stock and Photozou Koukoku is now a wholly owned subsidiary of the Company. The Company and Photozou Koukoku were under common control at the time of the acquisition. Photozou Koukoku was incorporated under the laws of Japan on March 14, 2017. Currently, Photozou Koukoku is headquartered in Tokyo, Japan. The Company offers advertising services and photo session services, and sells used cameras. On June 5, 2018, Photozou Co., Ltd., our controlling shareholder, entered into stock purchase agreements with 69 Japanese shareholders. Pursuant to these agreements, Photozou Co., Ltd. sold 3,028,900 shares of Photozou Holdings common stock in total to these individuals and received $75,723 as aggregate consideration. Each shareholder paid $0.025 USD per share. On July 17, 2018, Photozou Co., Ltd., our controlling shareholder, entered into a stock purchase agreement with 1 Japanese shareholder. Pursuant to the agreement, Photozou Co., Ltd. sold a total of 7,000 shares of common stock to this individual and received $175 as aggregate consideration. Each shareholder paid $0.025 USD per share. On September 21, 2020, Photozou Co., Ltd., our principal controlling shareholder, entered into a Stock Purchase Agreement with Koichi Ishizuka, our Sole Officer and Director. Pursuant to the closing of the Agreement on September 21, 2020, Photozou Co., Ltd. transferred to Koichi Ishizuka 4,553,200 shares of our common stock, which represents approximately 56.9% of our issued and outstanding common stock, in consideration of JPY 6,657,917 (approximately $60,500). Following the closing of the share purchase transaction, Koichi Ishizuka owns approximately 66.7% interest in the issued and outstanding shares of our common stock. Photozou Co., Ltd. was and remains owned and controlled entirely by Koichi Ishizuka, we do not believe that this transaction is deemed to be a change in control of the Company. Our principal executive offices are located at 4-30-4F, Yotsuya, Shinjuku-ku, Tokyo, 160-0004, Japan. The Company has elected November 30 th

NOTE 2 - SIGNIFICANT ACCOUNTING

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	May 31, 2023
Accounting Policies [Abstract]
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and of its wholly-owned subsidiary, Photozou Koukoku. Intercompany transactions are eliminated. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation S-X. In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the nine months period, have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year. When used in these notes, the terms “Company”, “we”, “us” or “our” mean the Company. Certain information and note disclosure normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America has been omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our consolidated financial statements for the year ended November 30, 2022, included in our Form 10-K. USE OF ESTIMATES The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates and assumptions made by management include going concern, allowance for doubtful accounts, valuation allowance on deferred income tax, inventory obsolescence and sales allowance. Actual results in the future could vary from the amounts derived from management’s estimates and assumptions. RELATED PARTY TRANSACTION The Company accounts for related party transactions in accordance with ASC 850 (“Related Party Disclosures”). A related party is generally defined as (i) any person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company conducts business with its related parties in the ordinary course of business. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. FOREIGN CURRENCY TRANSLATION The Company maintains its books and record in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations. The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. Shareholders’ equity is translated at historical exchange rate at the time of transaction. Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates: May 31, 2023 May 31, 2022 Current JPY: US$1 exchange rate 139.77 128.21 Average JPY: US$1 exchange rate 133.88 119.47 COMPREHENSIVE INCOME OR LOSS ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying consolidated statements of shareholders’ deficit consists of changes in unrealized gains and losses on foreign currency translation. REVENUE RECOGNITION AND DEFERRED REVENUE The Company recognizes its revenue in accordance with ASC 606 - Revenue from contracts with Customers. To determine revenue recognition for agreements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Revenue for used cameras sold is recognized at a point in time when the cameras are delivered to the customer. There are two types of service revenue. Revenue for advertising service is recognized over time when the services are provided to the customers. Revenue for photo session service is recognized at a point of time when service is provided to the customers at the photo session. Deferred revenue is recorded when consideration is received from a customer prior to the goods or services were delivered. There was no deferred revenue as of May 31, 2023 or November 30, 2022. Disaggregated revenue of the Company is as follows: For the six months Percentage of For the six months Percentage of ended total revenues ended total revenues 　 May 31, 2023 　 May 31, 2022 　 Revenue from cameras sold $ 32,729 76.9% 98,879 75.1% Service revenue 9,817 23.1% 32,853 24.9% Total 42,546 100% 131,732 100% For the six months Percentage of For the six months Percentage of ended total revenues ended total revenues May 31, 2023 May 31, 2022 Revenue from US $ 27,978 65.8% 98,879 75.1% Revenue from Japan 14,568 34.2% 32,853 24.9% Total 42,546 100% 131,732 100% -F6- Table of Contents

NOTE 3 - GOING CONCERN

NOTE 3 - GOING CONCERN	6 Months Ended
	May 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 3 - GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying consolidated financial statements are prepared on a basis of accounting assuming that the Company is a going concern that contemplates realization of assets and satisfaction of liabilities in the normal course of business. The Company is in the early stage of operations and has recurring net losses. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue-producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4 - RELATED-PARTY TRANSACT

NOTE 4 - RELATED-PARTY TRANSACTIONS	6 Months Ended
	May 31, 2023
Related Party Transactions [Abstract]
NOTE 4 - RELATED-PARTY TRANSACTIONS	NOTE 4 - RELATED-PARTY TRANSACTIONS For the six months ended May 31, 2023, the Company borrowed $ 86,844 84,977 7,219 728,644 651,999 For the six months ended May 31, 2022, Photozou Co., Ltd., a company controlled by Koichi Ishizuka, CEO, paid expense on behalf of the Company in an amount of $ 95,718 For the six months ended May 31, 2023 and May 31, 2022, the Company utilized office space and storage space of the Company’s sole officer, Koichi Ishizuka, free of charge.

NOTE 5 - SHAREHOLDERs_ DEFICIT

NOTE 5 - SHAREHOLDERs’ DEFICIT	6 Months Ended
	May 31, 2023
Equity [Abstract]
NOTE 5 - SHAREHOLDERs’ DEFICIT	NOTE 5 - SHAREHOLDERs’ DEFICIT Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.0001. The Company has not issued any shares for the six months ended May 31, 2023 and May 31, 2022. Common Stock The authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.0001. There were 8,000,000 shares of common stock issued and outstanding as of May 31, 2023 and November 30, 2022. Pertinent Rights and Privileges Holders of shares of common stock are entitled to one vote for each share held to be used at all stockholders’ meetings and for all purposes including the election of directors. Common stock does not have cumulative voting rights. Nor does it have preemptive or preferential rights to acquire or subscribe for any unissued shares of any class of stock.

NOTE 6 - CONCENTRATION

NOTE 6 - CONCENTRATION	6 Months Ended
	May 31, 2023
Accounting Policies [Abstract]
NOTE 6 - CONCENTRATION	NOTE 6 - CONCENTRATION Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of purchases of inventory, accounts receivable and revenue. Concentration of Purchases Purchases from suppliers accounting for 10% or more of total purchases are as follows: For the six months ended May 31, 2023, 100% of inventories of cameras was purchased from one supplier whose name was e-Sakura Market the inventories of cameras were purchased from one supplier whose name was e-Sakura Market Concentration of Revenues Revenues from customers accounting for 10% or more of total revenues are as follows: For the six months ended May 31, 2023, 85% and 15% of the revenue from the sale of cameras was generated through Amazon USA and Yahoo Japan, respectively. For the six months ended May 31, 2022, 100% of the revenue from the sale of cameras was generated through Amazon USA. For the six months ended May 31, 2023 and May 31, 2022, 100% of the revenue from the sale of cameras was handled by Takaharu Ogami who the Company has a service agreement with to sell and buy used cameras on behalf of the Company. For the six months ended May 31, 2023 and May 31, 2022, no customer accounted for 10% or more of service revenue.

NOTE 7 - COMMITMENTS

NOTE 7 - COMMITMENTS	6 Months Ended
	May 31, 2023
Commitments and Contingencies Disclosure [Abstract]
NOTE 7 - COMMITMENTS	NOTE 7 - COMMITMENTS On May 1, 2017, the Company entered into an agreement with Mr. Takaharu Ogami, whereas he is to act as an independent contractor to Photozou Koukoku. The services he is to provide include, but are not limited to, handling the operations of Photozou Koukoku's used camera retail business through purchasing, selling and delivery of cameras by Mr. Ogami. He is compensated JPY 450,000 (approximately $3,361) a month. Unless either party expresses, in writing, their intention to terminate the agreement then it shall run another three months automatically. Mr. Ogami is responsible for the sale and shipping of the cameras at the expense of Photozou Koukoku. Photozou Koukoku is the legal owner of the camera(s) until the point of sale to the purchaser(s).

NOTE 8 - LONG-TERM LOAN

NOTE 8 - LONG-TERM LOAN	6 Months Ended
	May 31, 2023
Debt Disclosure [Abstract]
NOTE 8 - LONG-TERM LOAN	NOTE 8 - LONG-TERM LOAN On July 2, 2020, the Company borrowed JPY7,000,000 ($65,286) from Japan Finance Corporation ("JFC"), a wholly owned public entity by the Japanese government as the COVID-19 subsidy. The loan is unsecured, repaid monthly, due in five years, and with an annual interest rate of 0.46% within three years and 1.36% thereafter. Ishizuka Koichi is the guarantor of the loan. For the six months ended May 31, 2023, the Company repaid $ 5,309

NOTE 9 - SUBSEQUENT EVENTS

NOTE 9 - SUBSEQUENT EVENTS	6 Months Ended
	May 31, 2023
Subsequent Events [Abstract]
NOTE 9 - SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS From June 1, 2023 through the current date, Photozou Co., Ltd., a Company controlled by Koichi Ishizuka, CEO, paid expenses on behalf of the Company in amount of $ 372

NOTE 2 - SIGNIFICANT ACCOUNTI_2

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	May 31, 2023
Accounting Policies [Abstract]
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and of its wholly-owned subsidiary, Photozou Koukoku. Intercompany transactions are eliminated.
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation S-X. In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the nine months period, have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year. When used in these notes, the terms “Company”, “we”, “us” or “our” mean the Company. Certain information and note disclosure normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America has been omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our consolidated financial statements for the year ended November 30, 2022, included in our Form 10-K.
USE OF ESTIMATES	USE OF ESTIMATES The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates and assumptions made by management include going concern, allowance for doubtful accounts, valuation allowance on deferred income tax, inventory obsolescence and sales allowance. Actual results in the future could vary from the amounts derived from management’s estimates and assumptions.
RELATED PARTY TRANSACTION	RELATED PARTY TRANSACTION The Company accounts for related party transactions in accordance with ASC 850 (“Related Party Disclosures”). A related party is generally defined as (i) any person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company conducts business with its related parties in the ordinary course of business. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated.
FOREIGN CURRENCY TRANSLATION	FOREIGN CURRENCY TRANSLATION The Company maintains its books and record in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations. The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. Shareholders’ equity is translated at historical exchange rate at the time of transaction. Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates: May 31, 2023 May 31, 2022 Current JPY: US$1 exchange rate 139.77 128.21 Average JPY: US$1 exchange rate 133.88 119.47
COMPREHENSIVE INCOME OR LOSS	COMPREHENSIVE INCOME OR LOSS ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying consolidated statements of shareholders’ deficit consists of changes in unrealized gains and losses on foreign currency translation.
REVENUE RECOGNITION AND DEFERRED REVENUE	REVENUE RECOGNITION AND DEFERRED REVENUE The Company recognizes its revenue in accordance with ASC 606 - Revenue from contracts with Customers. To determine revenue recognition for agreements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Revenue for used cameras sold is recognized at a point in time when the cameras are delivered to the customer. There are two types of service revenue. Revenue for advertising service is recognized over time when the services are provided to the customers. Revenue for photo session service is recognized at a point of time when service is provided to the customers at the photo session. Deferred revenue is recorded when consideration is received from a customer prior to the goods or services were delivered. There was no deferred revenue as of May 31, 2023 or November 30, 2022. Disaggregated revenue of the Company is as follows: For the six months Percentage of For the six months Percentage of ended total revenues ended total revenues 　 May 31, 2023 　 May 31, 2022 　 Revenue from cameras sold $ 32,729 76.9% 98,879 75.1% Service revenue 9,817 23.1% 32,853 24.9% Total 42,546 100% 131,732 100% For the six months Percentage of For the six months Percentage of ended total revenues ended total revenues May 31, 2023 May 31, 2022 Revenue from US $ 27,978 65.8% 98,879 75.1% Revenue from Japan 14,568 34.2% 32,853 24.9% Total 42,546 100% 131,732 100%

NOTE 4 - RELATED-PARTY TRANSA_2

NOTE 4 - RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($)	2 Months Ended	6 Months Ended
	Jul. 17, 2023	May 31, 2023	Nov. 30, 2022
Related Party Transactions [Abstract]
borrowed from photozou		$ 86,844
expenses paid on behalf of the company	$ 372	84,977
photozou repayments		7,219
total due to related party		728,644	$ 651,999
expenses paid by photozou co ltd		$ 95,718

NOTE 8 - LONG-TERM LOAN (Detail

NOTE 8 - LONG-TERM LOAN (Details Narrative)	6 Months Ended
	May 31, 2023 USD ($)
Debt Disclosure [Abstract]
repaid to jfc	$ 5,309

NOTE 9 - SUBSEQUENT EVENTS (Det

NOTE 9 - SUBSEQUENT EVENTS (Details Narrative) - USD ($)	2 Months Ended	6 Months Ended
	Jul. 17, 2023	May 31, 2023
Subsequent Events [Abstract]
[custom:Expensespaidonbehalfofthecompany]	$ 372	$ 84,977