Cover
Cover | 12 Months Ended |
Mar. 31, 2022 | |
Cover [Abstract] | |
Document Type | 10-K |
Amendment Flag | false |
Document Annual Report | true |
Document Period End Date | Mar. 31, 2022 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --03-31 |
Entity File Number | 000-55769 |
Entity Registrant Name | AIS HOLDINGS GROUP, INC. |
Entity Central Index Key | 0001702015 |
Entity Tax Identification Number | 36-4877329 |
Entity Incorporation, State or Country Code | DE |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Entity Shell Company | false |
Auditor Firm ID | 2738 |
Auditor Name | M&K CPAS, PLLC |
Auditor Location | Houston, TX |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 45,307 | $ 23,144 |
Accounts receivable, trade | 3,600 | 3,600 |
Prepaid expenses | 175 | 375 |
TOTAL CURRENT ASSETS | 49,082 | 27,119 |
Current Liabilities | ||
Due to related party | 70,794 | 95,089 |
Accrued expenses | 2,981 | |
Accrued receipts | 45,372 | |
TOTAL CURRENT LIABILITIES | 116,166 | 98,070 |
Preferred stock ($0.0001 par value, 20,000,000 shares authorized; 0 issued and outstanding as of March 31, 2022 and 2021) | ||
Common stock ($0.0001 par value, 500,000,000 shares authorized, 20,000,000 shares issued and outstanding as of March 31, 2022 and 2021) | 2,000 | 2,000 |
Additional paid-in capital | 42,230 | 34,714 |
Accumulated deficit | (117,268) | (106,909) |
Accumulated other comprehensive loss | 5,954 | (756) |
Total Shareholders’ Deficit | (67,084) | (70,951) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 49,082 | $ 27,119 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) | Mar. 31, 2022$ / sharesshares |
Statement of Financial Position [Abstract] | |
preferred stock par value | $ / shares | $ 0.0001 |
preferred stock authorized | 20,000,000 |
preferred stock issued | 0 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.0001 |
Common Stock, Shares Authorized | 500,000,000 |
Common Stock, Shares, Issued | 20,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Statement [Abstract] | ||
Revenues | $ 44,700 | $ 84,700 |
OPERATING EXPENSE | ||
General and administrative expenses | 66,222 | 81,494 |
Total Operating Expenses | 66,222 | 81,494 |
Other income (expense) | ||
Other income | 18,679 | 18,864 |
Interest expenses | (7,516) | (9,946) |
NET INCOME (LOSS) | (10,359) | 12,124 |
Foreign currency translation adjustment | 6,710 | 844 |
TOTAL COMPREHENSIVE INCOME (LOSS) | $ (3,649) | $ 12,968 |
BASIC AND DILUTED NET LOSS PER COMMON SHARE | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED | 20,000,000 | 20,000,000 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Comprehensive Income [Member] | Retained Earnings [Member] | Total |
Balance - March 31, 2022 | $ 2,000 | $ 24,768 | $ (1,600) | $ (119,033) | $ (93,865) |
Balance - March 31, 2021 at Mar. 31, 2020 | 2,000 | 24,768 | (1,600) | (119,033) | (93,865) |
Imputed Interests | 9,946 | 9,946 | |||
Net loss | 12,124 | 12,124 | |||
Foreign currency translation | 844 | 844 | |||
Balance - March 31, 2022 | 2,000 | 34,714 | (756) | (106,909) | (70,951) |
Balance - March 31, 2021 at Mar. 31, 2021 | 2,000 | 34,714 | (756) | (106,909) | (70,951) |
Imputed Interests | 7,516 | 7,516 | |||
Net loss | (10,359) | (10,359) | |||
Foreign currency translation | 6,710 | 6,710 | |||
Balance - March 31, 2022 | $ 2,000 | $ 42,230 | $ 5,954 | $ (117,268) | $ (67,084) |
Balance, shares | 20,000,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ (10,359) | $ 12,124 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Imputed interest | 7,516 | 9,946 |
Depreciation expense | 5,426 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 4,400 | |
Accrued receipts | 45,372 | |
Prepaid expenses | 200 | 244 |
Accrued expenses | (2,981) | 526 |
Net cash used in operating activities | 39,748 | 32,666 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from due to related party | 8,584 | 33,632 |
Repayment of due to related party | (26,700) | (81,301) |
Net cash provided used in financing activities | (18,116) | (47,669) |
Net effect of exchange rate changes on cash | (531) | (3,412) |
Net Change in Cash and Cash Equivalents | 22,163 | (18,415) |
Cash and cash equivalents - beginning of period | 23,144 | 41,559 |
Cash and cash equivalents - end of period | 45,307 | 23,144 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | ||
Income taxes paid |
NOTE 1 - ORGANIZATION AND DESCR
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS AIS Holdings Group, Inc., a Delaware corporation (“the Company”) was incorporated under the laws of the State of Delaware on January 30, 2017 with the name Superb Acquisition, Inc. On September 20, 2017, we changed our name to AIS Holdings Group, Inc. On April 1, 2018, the Company entered into an agreement with Trend Rich Global Limited to lease the Company’s Software System package. The Software System Package is source code that can be expanded upon to create custom websites for clients in the digital currency industry. On August 16, 2018, AIS Japan entered into a Software Development Agreement with GL Co., Ltd., whereas GL Co., Ltd. will improve upon the Company’s existing Software Platform Package which is owned by AIS Japan. The fee to further develop the software is in amount of 5,000,000 JPY (approximately $45,000). On March 6, 2020, the agreement between the Company and GL Co., Ltd. was deemed to have been completed. GL Co., Ltd. successfully improved the software system’s administration system, as well as user system, in ways which were deemed to be acceptable and complete by the Company, and the ongoing services of GL Co., Ltd. were deemed to no longer be required. On April 1, 2020, the Company and Trend Rich Global Limited mutually agreed to alter the monthly fees charged to Trend Rich Global Limited by the Company. All material components of the initial agreement entered into on April 1, 2018 remained unaltered, but the monthly basic fee was reduced from $8,000 to $3,600. The agreement remains active. Our principal executive offices are located at 2-41-7-336, Shinsakae Naka-ku Nagoya-shi, Aichi, 460-0007, Japan. The Company has elected March 31st as its fiscal year end. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidations The consolidated financial statements include the accounts of the Company and AIS Japan Co., Ltd., a Japan corporation. All significant intercompany accounts and transactions have been eliminated. Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. Use of Estimates The preparation 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Related Party Transaction 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. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. - F7 - Table of Contents Property, Plant and Equipment Property, plant and equipment are stated at cost less depreciation and impairment loss. The initial cost of the assets comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the respective assets as follows: computer software developed or acquired for internal use, 2 to 5 years; computer equipment, 2 to 5 years; buildings and improvements, 5 to 15 years; leasehold improvements, 2 to 10 years; and furniture and equipment, 1 to 5 years. Significant improvements are capitalized when it is probable that the expenditure resulted in an increase in the future economic benefits expected to be obtained from the use of the asset beyond its originally assessed standard of performance. When improvements are made to real property and those improvements are permanently affixed to the property, the title to those improvements automatically transfers to the owner of the property. The lessee’s interest in the improvements is not a direct ownership interest but rather it is an intangible right to use and benefit from the improvements during the term of the lease. The Company uses the straight-line method over the shorter of the estimated useful life of the asset or the lease term. In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the period ended For the period ended March 31, 2022 and 2021 the Company did not record any impairment charges on long-lived assets. Routine repairs and maintenance are expensed when incurred. Gains and losses on disposal of fixed assets are recognized in the income statement based on the net disposal proceeds less the carrying amount of the assets. Revenue Recognition The Company recognizes revenue by applying the following steps in accordance with Accounting Standards Codification (“ASC”) Topic 606 - Revenue from contracts with Customers: (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 from consulting sales Revenue for consulting is recognized when the consulting is delivered to the customer and the customer complete the product inspection. Accounts Receivable and Allowance Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off against the allowance when identified. 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. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity. Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates: March 31, 2022 March 30, 2021 Current JPY: US$1 exchange rate 121.66 110.70 Average JPY: US$1 exchange rate 112.43 106.02 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 comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation. Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2022 and 2021 and, thus, anti-dilution issues are not applicable. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. Recently Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards. ASU 2019-12 removes certain exceptions from Topic 740, Income Taxes, including (i) the exception to the incremental approach for intra period tax allocation; (ii) the exception to accounting for basis differences when there are ownership changes in foreign investments; and (iii) the exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. ASU 2019-12 also simplifies GAAP in several other areas of Topic 740 such as (i) franchise taxes and other taxes partially based on income; (ii) transactions with a government that result in a step up in the tax basis of goodwill; (iii) separate financial statements of entities not subject to tax; and (iv) enacted changes in tax laws in interim periods. ASU 2019-12 is effective for public entities for annual reporting periods and interim periods within those years beginning after December 15, 2020, and early adoption is permitted. - F8 - Table of Contents |
NOTE 3 - GOING CONCERN
NOTE 3 - GOING CONCERN | 12 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 3 - GOING CONCERN | NOTE 3 - GOING CONCERN The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios. The Company has not had sufficient revenues to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. |
NOTE 4 - ACCRUED EXPENSES
NOTE 4 - ACCRUED EXPENSES | 12 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
NOTE 4 - ACCRUED EXPENSES | NOTE 4 - ACCRUED EXPENSES Accrued expenses totaled $ 0 2,981 NOTE 5 - Accrued receipts Accrued expenses totaled $45,372 as of March 31, 2022 as compared to March 31, 2021 which was $0. |
NOTE 6 - INCOME TAXES
NOTE 6 - INCOME TAXES | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
NOTE 6 - INCOME TAXES | NOTE 6 - INCOME TAXES The Company conducts its major businesses in Japan and is subject to tax in this jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authority. Japan The Company conducts its major businesses in Japan and is subject to tax in this jurisdiction. As a result of its business activities, the Company files tax returns that are su bject to examination by the local tax authority. The Company is subject to a number of income taxes, which, in aggregate, represent a statutory tax rate approximately as follows: Company’s assessable profit For the year ended March 31, Up to JPY 4 million Up to JPY 8 million Over JPY 8 million 2021 21.59% 23.40% 34.11% 2022 21.42% 23.20% 33.59% United States AIS Holdings Group, Inc., which acts as a holding company on a non-consolidated basis, does not plan to engage any business activities and current or future loss will be fully allowed. For the year ended March 31, 2022 and 2021, respectively, AIS Holdings Group, Inc., as a holding company registered in the state of Delaware, has incurred net loss and, therefore, has no tax liability. The net deferred tax asset generated by the loss carry forward has been fully reserved. The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years March 31, 2022 2021 Deferred tax asset, generated from net operating loss at statutory rates $ 14,517 $ 13,920 Valuation allowance (14,517) (13,920) $ - $ - The reconciliation of the effective income tax rate to the federal statutory rate is as follows: Federal INCOME tax rate 21.0 % Increase in valuation allowance (21.0 %) Effective income tax rate 0.0 % |
NOTE 7 - SHAREHOLDER EQUITY
NOTE 7 - SHAREHOLDER EQUITY | 12 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
NOTE 7 - SHAREHOLDER EQUITY | NOTE 7 - SHAREHOLDER EQUITY Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.0001. The Company had no shares of preferred stock issued and outstanding at March 31, 2022 and 2021. Common Stock The authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.0001. There were 20,000,000 shares of common stock issued and outstanding at March 31, 2022 and 2021. The Company did not have any potentially dilutive instruments as of March 31, 2022 and 2021 and, thus, anti-dilution issues are not applicable. Additional paid-in capital For the year ended March 31, 2022 and 2021, the Company had imputed interest of $ 7,516 9,946 |
NOTE 8 - RELATED-PARTY TRANSACT
NOTE 8 - RELATED-PARTY TRANSACTIONS | 12 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
NOTE 8 - RELATED-PARTY TRANSACTIONS | NOTE 8 - RELATED-PARTY TRANSACTIONS Additional paid-in capital For the year ended March 31, 2022 and 2021, the Company had imputed interest of $7,516 and $9,946. Due to related party For the year ended March 31, 2022 and 2021, the Company borrowed $8,584 and $33,632, respectively, from Takehiro Abe, CEO of the Company. For the year ended March 31, 2022 and 2021, the Company repaid $24,659 and $81,301, respectively, to Takehiro Abe. The total due as of March 31, 2022 and 2021 were $70,794 and $95,089, respectively, and were unsecured, due on demand and non-interest bearing. For the year ended March 31, 2022 and 2021, the Company had imputed interest of $7,516 and $9,946. The Company utilizes home office space and equipment of our management at no cost. Management estimates such amounts to be immaterial. |
NOTE 9 - CONCENTRATION
NOTE 9 - CONCENTRATION | 12 Months Ended |
Mar. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
NOTE 9 - CONCENTRATION | NOTE 9 - 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 Accounts Receivables Accounts receivables for 10% or more of total revenues are as follows: For the year ended March 31, 2022 and 2021, 100% of the accounts receivables was generated from one customer whose name was Trend Rich Global Limited in the amount of $3,600 and $3,600, respectively. Concentration of Revenues Gross revenues from customers accounting for 10% or more of total revenues are as follows: For the year ended March 31, 2022 and 2021, 100% of the revenue was generated from one customer whose name was Trend Rich Global Limited in the amount of $44,700 and $84,700, respectively. |
NOTE 10 - OTHER INCOME
NOTE 10 - OTHER INCOME | 12 Months Ended |
Mar. 31, 2022 | |
Other income (expense) | |
NOTE 10 - OTHER INCOME | NOTE 10 - OTHER INCOME On May 23, 2022, the Company received the subsidy for the COVID-19 from the Japanese government in the amount of JPY1,000,000 ($8,895). On May 31, 2022, the Company received the cancellation fees from one client in the amount of JPY1,100,000 ($9,784). |
NOTE 11 - CONTINGENCIES
NOTE 11 - CONTINGENCIES | 12 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
NOTE 11 - CONTINGENCIES | NOTE 11 - CONTINGENCIES For the year ended March 31, 2022 and 2021, the Company was not involved in any legal proceedings. As of March 31, 2021 and 2020, the Company had no pending legal cases. |
NOTE 12 - SUBSEQUENT EVENTS
NOTE 12 - SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
NOTE 12 - SUBSEQUENT EVENTS | NOTE 12 - SUBSEQUENT EVENTS The Company has evaluated subsequent events through June 10, 2022, the date on which the consolidated financial statements were available to be issued. |
NOTE 2 - SUMMARY OF SIGNIFICA_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Principles of Consolidations | Principles of Consolidations The consolidated financial statements include the accounts of the Company and AIS Japan Co., Ltd., a Japan corporation. All significant intercompany accounts and transactions have been eliminated. |
Basis of Presentation | Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. |
Use of Estimates | Use of Estimates The preparation 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. |
Related Party Transaction | Related Party Transaction 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. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. - F7 - Table of Contents |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at cost less depreciation and impairment loss. The initial cost of the assets comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the respective assets as follows: computer software developed or acquired for internal use, 2 to 5 years; computer equipment, 2 to 5 years; buildings and improvements, 5 to 15 years; leasehold improvements, 2 to 10 years; and furniture and equipment, 1 to 5 years. Significant improvements are capitalized when it is probable that the expenditure resulted in an increase in the future economic benefits expected to be obtained from the use of the asset beyond its originally assessed standard of performance. When improvements are made to real property and those improvements are permanently affixed to the property, the title to those improvements automatically transfers to the owner of the property. The lessee’s interest in the improvements is not a direct ownership interest but rather it is an intangible right to use and benefit from the improvements during the term of the lease. The Company uses the straight-line method over the shorter of the estimated useful life of the asset or the lease term. In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the period ended For the period ended March 31, 2022 and 2021 the Company did not record any impairment charges on long-lived assets. Routine repairs and maintenance are expensed when incurred. Gains and losses on disposal of fixed assets are recognized in the income statement based on the net disposal proceeds less the carrying amount of the assets. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue by applying the following steps in accordance with Accounting Standards Codification (“ASC”) Topic 606 - Revenue from contracts with Customers: (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 from consulting sales Revenue for consulting is recognized when the consulting is delivered to the customer and the customer complete the product inspection. |
Accounts Receivable and Allowance | Accounts Receivable and Allowance Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off against the allowance when identified. |
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. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity. Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates: March 31, 2022 March 30, 2021 Current JPY: US$1 exchange rate 121.66 110.70 Average JPY: US$1 exchange rate 112.43 106.02 |
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 comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation. |
Income Taxes | Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes |
Basic Earnings (Loss) Per Share | Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2022 and 2021 and, thus, anti-dilution issues are not applicable. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards. ASU 2019-12 removes certain exceptions from Topic 740, Income Taxes, including (i) the exception to the incremental approach for intra period tax allocation; (ii) the exception to accounting for basis differences when there are ownership changes in foreign investments; and (iii) the exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. ASU 2019-12 also simplifies GAAP in several other areas of Topic 740 such as (i) franchise taxes and other taxes partially based on income; (ii) transactions with a government that result in a step up in the tax basis of goodwill; (iii) separate financial statements of entities not subject to tax; and (iv) enacted changes in tax laws in interim periods. ASU 2019-12 is effective for public entities for annual reporting periods and interim periods within those years beginning after December 15, 2020, and early adoption is permitted. |
NOTE 4 - ACCRUED EXPENSES (Deta
NOTE 4 - ACCRUED EXPENSES (Details Narrative) - USD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Payables and Accruals [Abstract] | ||
accrued expenses | $ 0 | $ 2,981 |
NOTE 7 - SHAREHOLDER EQUITY (De
NOTE 7 - SHAREHOLDER EQUITY (Details Narrative) - USD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Equity [Abstract] | ||
imputed interest | $ 7,516 | $ 9,946 |