For those like myself who were eager for answers, the penultimate Gleipnir delivered in a big way, taking us back to the halcyon days of the Yamada Cram School gang, which consisted of Kaito (the lion haired lad), Naoto, Aiko, Honoka, Elena…and Shuuichi. Things would not go well at all for these five friends as the years progressed, and the Alien and his coins only made things worse.
Fast-forward to a few months before the present day, and the friends meet up for a reunion. Only Honoka isn’t there. Only Kaito doesn’t know why: Honoka’s dad murdered someone, she ended up living with relatives, they didn’t get along, and she just…disappeared. Aiko things they should just let things be, since Honoka didn’t tell any of them and so probably doesn’t want to be searched for. Pretty cold stuff.
The thing is, Naoto has noticed Aiko (who is his girlfriend) acting a bit off lately, and when Kaito sees her twirling her hair the way Honoka used to, he follows her and meets the alien. Then Kaito gathers everyone else to explain what happened: Honoka used a coin to transform into Aiko. Kaito believes Honoka did it out of a desire to have “everything” Aiko had…including Naoto, whom she loved.
To Kaito’s frustration, no one wants to do anything about this, and insists that things “stay the way they are.” But that doesn’t sit well with him. He confronts Honoka!Aiko at the cram school, sitting before of the real Aiko’s grave. Believing Honoka killed the real Aiko and took her place, he takes a rope and strangles her to death. It’s a shockingly rash action from someone who had to that point been a normal high school teen, and timing for such rash action couldn’t have been worse.
Shortly after killing her, Kaito learns from Naoto that Aiko’s will was found and addressed to Honoka. Aiko, who had a strong sense of justice and defended other kids being bullied at school, became the bully’s new target, and eventually she succumbed to the despair and hung herself.
Honoka, filled with regret for being unable to save her best friend and was the only one to get a note from her, went to the alien with a coin and asked to become Aiko, believing no one would care if she disappeared, but would be sad if they learned the truth about Aiko.
What’s so heartbreaking is she was pretty much right—everyone was willing to go along with the “new” Aiko despite eventually learning what Honoka did. Only Kaito didn’t want Honoka to disappear, and wasn’t okay with everything the way it was. From this point forward, Kaito disowns Naoto, Elena and Shuuichi, and vows to make them disappear to see how they like it.
He goes to the alien with a coin to make that happen, and in the present we learn he’s the one who has collected 100 coins, no doubt enlisting the aid of the “glowing lady” with Honoka’s form. Elena and Naoto are part of the team attempting to defeat him, but they’re clearly at a disadvantage.
That brings us back to the day Shuuichi encounters and murders the last survivor of Madoka’s gang in the junkyard. We knew Claire called him and he assured her everything was taken care of, but now we learn Claire had gone to the abandoned cram school to investigate Shuuichi’s past on her own.
There, she finds the little stuffed dog that was the inspiration for Shuuichi’s form. It’s concrete proof not only that he was there, but that his memories have been messed with. Months before, Shuuichi assured Elena and Naoto that if Kaito was plotting something, he’d use a coin to respond.
It’s starting to look like Elena didn’t force him into anything, but it will be up to the finale to present the actual moment he got transformed by the alien, and show why he broke from Elena and Naoto and lost his memories.