ZOZO Founder Maezawa's Asset Firm Underreported 400 Million Yen in Taxes

TOKYO, Jul 09 (News On Japan) - The Tokyo Regional Taxation Bureau has pointed out that an asset management company wholly owned by Yusaku Maezawa, founder of online fashion retailer ZOZO, failed to report approximately 400 million yen in income.

According to sources, the company in question, Goonies, which is fully owned by Maezawa, was found to have underreported around 400 million yen over a four-year period leading up to two years ago.

The underreporting allegedly stems from the handling of interest payments made when Goonies issued corporate bonds. The equivalent amount of interest was received by an acquaintance of Maezawa through a consulting firm. Authorities suspect that the use of this intermediary was intended to disguise the payments as de facto donations, effectively reducing the company’s tax burden. The Tokyo tax bureau has reportedly judged that these payments cannot be recognized as deductible expenses.

Maezawa commented, "I apologize for the situation. I do not evade my tax obligations. Going forward, I will make every effort to ensure proper tax compliance."

Source: TBS

Typhoon No. 22 Forecast to Approach Japan's Pacific Side Later This Week

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Osaka University Professor Sakaguchi Wins Nobel Prize

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Driver In Training Behind Tokyu Line Collision That Caused Train Derailment

A collision occurred on the Tokyu Den-en-toshi Line on the night of October 5th when a local train attempting to arrive at Kajigaya Station in Kawasaki City struck a stationary out-of-service train, causing several cars of the latter to derail. Investigators from the Japan Transport Safety Board arrived at the scene on the morning of October 6th to begin examining the cause of the accident.

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A Spanish tourist was attacked by a bear while visiting Shirakawa-go, the UNESCO World Heritage village in Gifu Prefecture known for its traditional thatched-roof houses, on October 5th. The incident adds to a growing number of bear encounters reported across Japan in recent weeks.

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