Honda's Son Arrested Over Massive Tax Scam - Honda-Acura.net

Daniel · 07-01-03, 11:56 AM

SAITAMA -- Mainichi Daily News reports that the eldest son of the late Soichiro Honda, the founder of Honda Motor Co. Ltd., was arrested Tuesday over massive tax evasion of an engine manufacturer he runs, officials said.

Hirotoshi Honda's company, Mugen Co., in Asaka, Saitama Prefecture, is suspected of evading the payment of about 1 billion yen in corporate tax by failing to properly declare more than 3 billion yen income for a three-year period until October 2000.

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Daniel · 07-01-03, 11:57 AM

Continued..

Honda, 61, and Norio Hirokawa, a former auditor to Mugen, played a leading role in the company's tax evasions, said crime busters of the Saitama District Public Prosecutors Office when they arrested the two.

Honda and Hirokawa cooked the company's ledgers with the fictitious cost of materials bought in dealings with a leasing company also run by the Mugen president.

Investigators suspect that Honda and his firm spent the funds on land in Tokyo's Minato-ku.

Mugen technology is known worldwide through the development of engines that won several Formula-1 events.

Honda Motor Co. formerly owned a 40 percent interest in Mugen, but currently no formal relationship exists between the two companies. (Mainichi Shimbun, Japan, July 1, 2003)

***94civicEX*** · 07-01-03, 12:47 PM

....any word on production of Mugen parts!? This is crazy

.

matt j · 07-01-03, 01:00 PM

i read somewhere that when a company in japan does this they get closed down, so production of parts may cease

AccordSleeper · 07-01-03, 01:45 PM

good their shit is too damn expensive anyways. serves them right for getting the whole JDM faze into the US and brain washing us into thinking their shit is worth the outrageous price.

Morpheus · 07-01-03, 02:43 PM

Tthat is awful, I hope they dont stop manufacturing parts.

madlow · 07-01-03, 03:01 PM

wow crazy and unexpected news.

***Nelson*** · 07-01-03, 04:01 PM

Hmm. He'll be back

SuperSlow87 · 07-01-03, 04:21 PM

1 billion is like what... 8 1/3 million U.S.

Cut a deal that ain't so bad.

Dunno how Japanese Tax Law is though.

Jessica · 07-01-03, 08:50 PM

but thats really not alot of money, right?

**Kai** · 07-02-03, 02:37 AM

Ha, funny how karma works.

I don't know about you guys, but I can live without $900 valve covers, $75 oil caps, and $1200 bumper covers.

epoxy · 07-10-03, 09:47 PM

Quote:

Originally posted by AccordSleeper
good their shit is too damn expensive anyways. serves them right for getting the whole JDM faze into the US and brain washing us into thinking their shit is worth the outrageous price.

actually their performance parts are worth the money compared to other parts. you pay for horsepower... and it isnt cheap.

RenieLude · 07-23-03, 01:16 PM

i'll agree with epoxy.. take a look at what's under the hood some of the fastest hondas in the country and you'll find mugen..

07-01-03, 11:57 AM	#2
Daniel *Douchebag* Join Date: Apr 2001 Location: Concord, NC Posts: 8,234	Continued.. Honda, 61, and Norio Hirokawa, a former auditor to Mugen, played a leading role in the company's tax evasions, said crime busters of the Saitama District Public Prosecutors Office when they arrested the two. Honda and Hirokawa cooked the company's ledgers with the fictitious cost of materials bought in dealings with a leasing company also run by the Mugen president. Investigators suspect that Honda and his firm spent the funds on land in Tokyo's Minato-ku. Mugen technology is known worldwide through the development of engines that won several Formula-1 events. Honda Motor Co. formerly owned a 40 percent interest in Mugen, but currently no formal relationship exists between the two companies. (Mainichi Shimbun, Japan, July 1, 2003) __________________ I'm a douchebag

07-01-03, 12:47 PM	#3
*94civicEX* I got worms. Join Date: Jul 2000 Location: Utah Posts: 30,892	....any word on production of Mugen parts!? This is crazy . __________________ 99 Integra GSR 06 TSX duck squad member #00003

07-01-03, 01:00 PM	#4
matt j midwest corn killer Join Date: Jun 2003 Location: sioux falls, sd Posts: 96	i read somewhere that when a company in japan does this they get closed down, so production of parts may cease __________________ 95 frost white civic coupe 91 eagle talon tsi awd

07-01-03, 01:45 PM	#5
AccordSleeper Former H22 Accord Owner Join Date: Mar 2002 Location: NH Posts: 1,839	good their shit is too damn expensive anyways. serves them right for getting the whole JDM faze into the US and brain washing us into thinking their shit is worth the outrageous price. __________________ Now Living the AWD & Turbo Life

07-01-03, 03:01 PM	#7
madlow ëast cøast > Join Date: Jul 2001 Location: new hampshire Posts: 2,092	wow crazy and unexpected news. __________________ AIM: decaldood Decaldood.com Specializing in automotive decals!

07-01-03, 02:43 PM	#6
Morpheus Banned Join Date: Mar 2003 Posts: 2,405	Tthat is awful, I hope they dont stop manufacturing parts.

07-01-03, 04:01 PM	#8
*Nelson* *Administrator* ☂ Join Date: Jul 2002 Location: NY Posts: 40,178	Hmm. He'll be back __________________ Alpin weiß ///M3 \| EG Ferio - SOLD \|Threadless www.NelsonLee.net

07-01-03, 04:21 PM	#9
SuperSlow87 H-A G/\\|v\|3R Join Date: Jul 2002 Location: San Ho, Cali Posts: 621	1 billion is like what... 8 1/3 million U.S. Cut a deal that ain't so bad. Dunno how Japanese Tax Law is though.

07-01-03, 08:50 PM	#10
Jessica ch1x0r Join Date: Sep 2002 Location: PA Posts: 18,630	but thats really not alot of money, right? __________________ HAN Diet- Start: 131 lbs Current: 127 lbs Target:115 lbs

07-02-03, 02:37 AM	#11
Kai Rotorphile. Join Date: Mar 2002 Location: Richmond, VA Posts: 10,120	Ha, funny how karma works. I don't know about you guys, but I can live without $900 valve covers, $75 oil caps, and $1200 bumper covers. __________________

07-23-03, 01:16 PM	#13
RenieLude formerly PreludeChick89 Join Date: Nov 2000 Location: Philadelphia, PA Posts: 754	i'll agree with epoxy.. take a look at what's under the hood some of the fastest hondas in the country and you'll find mugen.. __________________ 1995 Mazda Miata

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