A girl named Kita can see the ring that appears on a person's neck when they are about to die. After seeing it on two boys in her class, she seeks to warn them, only to discover that the boys are already dead, but are still walking around.

Now that Michiru works for the Zombie-Loan office, she moves out of her relatives' place. Chika, who is still claiming to be using her for her Shinigami Eyes, introduces her to the various strange people who work at Zombie Loan.

As Shito and Chika battle Shiba, we flashback to the past, and learn exactly how Shiba became a zombie. After learning about Shiba, the others can't help but wonder-what happens after zombies die?

Toho, a member of the mafia, tells the Zombie-Loan office that Shito has been abducted, and that he will take on the task of retrieving Shito himself, since Shito is an important asset to him.

Michiru, Chika and Sotetsu arrive late at night at a closed JRail station which is rumored to be haunted. Their aim is to seek out the Grim Reaper who like the master of the black rings, knows of all souls passing through the dimensions.

Chika finds Shito and they reunite to fight the twisted doctor Yoshizumi, who is absorbed into his ultimate creation. Otsu saves the day by putting an agent that Nogi created into Yoshizimi, causing him to fall apart.

Battle is unlocked as both A and Z-Loan must make 10 million yen before the other. Though it comes with a heavy price, for the loser will have all of their zombies terminated. A-Loan takes a lead in the competition with superior weapons.