In my opinion, Shinigami Academy only raises BP where you can't see it from your main page.
It only take effect in certain event(already stated in Shinigami Academy section).
yeah, what you can't see still can happen...
since the effects are the same for both Reiatsu and Academy, i was wondering why 1 is taken in count but not the other :p
The Shinigami Academy counts towards your Reiatsu stats only. Wherever you have Reiatsu is where it is in use.
The effect is visible. I've checked. Next time you increase your Shinigami Academy bonus, compare your partner's stats with reiatsu before and after the increase.
The increases are so small, it's barely noticeable anyway.