I don't get the line about "graduating". Kinda feels unrelated to their conversation.
ditto. can someone explain?
Graduating from their virginity.
Japanese people like to bath/shower before sex.
She's clarifying that - exactly as stated - this is simply an invitation to bathe together, not an unspoken invitation for sex.
After all, they're at the point in their relationship, where it may be happening soon - so clarification of the intent behind that statement may be useful. (They're been cuddling, kissing, fondling, but haven't crossed that line just yet.)
Her friend reminded her, that even though the intent is merely bathing, she'll definitely be getting lustful looks (and maybe more).
She's fine with that because she'll be returning the lustful looks (and maybe more).
I'm certain that this bath-time will at the very least result in a higher level of 'skinship' than would be appropriate for friends.
Edit: Bath scenes - past and present - can be found in the
bonus pages. Bath-time does indeed include oppai fondling.