After not being seen since early to mid 2007, Nozumu Sahashi has been found.
Why do I care about this guy being found? He was the president of NOVA, and the one most feel is responsible for the collapse of NOVA. He is the guy who appears to have embezzled significant quantities of cash, and done some rather irregular share trading in the lead up to the collapse.
And today he was talking to the police in Osaka. Justice may not be swift, but it is sure.
End Post
Writing time: 9 minutes
Current media: None
Showing posts with label I-Want-My-Money. Show all posts
Showing posts with label I-Want-My-Money. Show all posts
Wednesday, June 25, 2008
Wednesday, June 11, 2008
The Saga Continues
Today I got another letter from Japan from (this is on the envelope)
1) this is an estimate for the cost of ending all the leases on places and cleaning them up.
2) This is mostly the 56.4 billion yen worth of unused lessons paid for by students.
Comparing the total assets and liabilities I think we can see where the problem was. Let's just say I'm glad the government was giving me my payout and not the company.
One odd thing they said was that they were expecting to get a tax refund of about a billion yen. This is because the company had paid the consumption tax on prepaid lessons ahead of time at a rate of 45% of the value even though it seems they didn't have to do so until the lessons were taken. When the business was an operating concern, this sort of worked out because the other 55% of the tax that was due when the lessons were taken would be the 45% prepaid from other lessons. However, since the lessons aren't being taken, it seems the consumption tax on them no longer applies, so the company can get some of that prepaid money back. It seems a bit weird and I may have misunderstood how it actually works.
Anyway, unless I get another letter about it, I think this might be the end of the Nova Saga. Rest in Peace Usagi.
End Post
Writing time: 37 minutes
Time since last post: 11 days (I've been slack)
Current media: the soundtrack from Rushmore
Bankrupt company Nova Corporation
Trustee in bankruptcy Lawyer Toshiaki Higashibata
Trustee in bankruptcy Lawyer Noriaki Takahashi
This was a slight surprise since I got my money a long time ago and didn't expect to have anything more to do with them. It turns out that it's just a letter sent out to all creditors updating them on the status of bankruptcy proceedings. The letter is actually a pretty good telling of the story of the "Fall of Nova" going back all the way to the start of the first school in Shinsaibashi. Even the English is pretty good, although in that overly formal style that Japanese legalese tends to become when translated.
The main point of the letter was the summary of assets and liabilities. The following table is taken from the letter
| Assets | value (yen) |
| Liquidation value | 6,489,307,392 |
| Total Assets | 6,489,307,392 |
| Liabilities | |
| Pledged Assets | 3,560,000,000 |
| Taxes and public dues | 2,929,307,392 |
| Outstanding wages | 5,525,934,129 |
| Other Estate claims1 | 400,000,000 |
| General claims2 | 75,756,372,131 |
| Total Liabilities | 87,496,160,639 |
1) this is an estimate for the cost of ending all the leases on places and cleaning them up.
2) This is mostly the 56.4 billion yen worth of unused lessons paid for by students.
Comparing the total assets and liabilities I think we can see where the problem was. Let's just say I'm glad the government was giving me my payout and not the company.
One odd thing they said was that they were expecting to get a tax refund of about a billion yen. This is because the company had paid the consumption tax on prepaid lessons ahead of time at a rate of 45% of the value even though it seems they didn't have to do so until the lessons were taken. When the business was an operating concern, this sort of worked out because the other 55% of the tax that was due when the lessons were taken would be the 45% prepaid from other lessons. However, since the lessons aren't being taken, it seems the consumption tax on them no longer applies, so the company can get some of that prepaid money back. It seems a bit weird and I may have misunderstood how it actually works.
Anyway, unless I get another letter about it, I think this might be the end of the Nova Saga. Rest in Peace Usagi.
End Post
Writing time: 37 minutes
Time since last post: 11 days (I've been slack)
Current media: the soundtrack from Rushmore
Wednesday, March 26, 2008
Oh Glorious Day
From my online banking statement
Oh yeah. It's finally here.
End Post
Writing time: 5 minutes
Time since last post: 10 minutes
Current media: Money by Monty Python
| 25 Mar 2008 | PROCEEDS OVERSEAS TELEGRAPHIC TRANSFER 0231869 USD2685.51@0.9125 JAPAN LABOUR HEALTH AND | 2,933.02 |
Oh yeah. It's finally here.
End Post
Writing time: 5 minutes
Time since last post: 10 minutes
Current media: Money by Monty Python
Monday, February 25, 2008
The Money Cometh
I got some good mail today. A bunch of paperwork to claim my unpaid wages from Japan. I shall endeavor to have them sent back by the end of the week. Registered post. After making photocopies.
While this in general is good news, it isn't all great. The total unpaid wages are 430366 yen. Since it's a payment from the government for unpaid wages, they're only going to give me 80%. So that means 344292 yen (the bastards round a 0.8 yen down). Next is the bit I wasn't counting on. Since I'm no longer a resident of Japan (maybe) I have to pay 20% income tax. This is a bit shit since while I was there I only had to pay about 3-5% (I can't remember exactly, but it was a lot less than 20%). This brings the figure down to 275434.24 yen (I'm sure they'll round that down as well).
One thing I'm not sure of is if I still count as being a resident of Japan for the moment. My residency visa is still valid, and I never sort of went to city hall to inform them I'd be leaving Japan (I think I was meant to hand in my alien card if I did so, and I wanted to keep it as a souvenir, so I didn't).
I also have to decide where to send the money. The easiest is to just have them put the money in my Japanese bank account. They've already filled out the forms for this. I didn't close the bank account kind of for this reason. This of course means I'd have to make a trip back to Japan at some time. If I did this I think their chances of not charging me the income tax are slightly better, but not so good because someone knows I'm not living in Japan anymore (namely the people who sent me the documents). The other two options are to have the money sent here, or have it sent to Australia. Having it sent to Australia would probably be better, since no matter what, I'll be sending a lot of the money home to save (I've kind of already mentally written off the money, so anything I do get is kind of like money for nothing now). I'll probably use some of it to buy a digital camera over here (my korean phone is an ok camera, but the way it names photos is annoying. noname.jpg, then noname(1).jpg, etc, etc. and the bluetooth file transfer does not preserve the file creation data. This makes automatic renaming into my prefered photo filename format (yyyymmddnn.jpg, y - year, m - month, d - date, n - photo number for that day) quite frustrating. My japanese phone was much better in that regard). If I do go back to Japan, it would probably just be for an overnight trip one weekend and I think I'd just stay out all night rather than get a hostel room.
End Post
Writing time: 25 minutes
Time since last post: 4 days
Current media: None (I have been watching a lot of Red Dwarf lately though)
While this in general is good news, it isn't all great. The total unpaid wages are 430366 yen. Since it's a payment from the government for unpaid wages, they're only going to give me 80%. So that means 344292 yen (the bastards round a 0.8 yen down). Next is the bit I wasn't counting on. Since I'm no longer a resident of Japan (maybe) I have to pay 20% income tax. This is a bit shit since while I was there I only had to pay about 3-5% (I can't remember exactly, but it was a lot less than 20%). This brings the figure down to 275434.24 yen (I'm sure they'll round that down as well).
One thing I'm not sure of is if I still count as being a resident of Japan for the moment. My residency visa is still valid, and I never sort of went to city hall to inform them I'd be leaving Japan (I think I was meant to hand in my alien card if I did so, and I wanted to keep it as a souvenir, so I didn't).
I also have to decide where to send the money. The easiest is to just have them put the money in my Japanese bank account. They've already filled out the forms for this. I didn't close the bank account kind of for this reason. This of course means I'd have to make a trip back to Japan at some time. If I did this I think their chances of not charging me the income tax are slightly better, but not so good because someone knows I'm not living in Japan anymore (namely the people who sent me the documents). The other two options are to have the money sent here, or have it sent to Australia. Having it sent to Australia would probably be better, since no matter what, I'll be sending a lot of the money home to save (I've kind of already mentally written off the money, so anything I do get is kind of like money for nothing now). I'll probably use some of it to buy a digital camera over here (my korean phone is an ok camera, but the way it names photos is annoying. noname.jpg, then noname(1).jpg, etc, etc. and the bluetooth file transfer does not preserve the file creation data. This makes automatic renaming into my prefered photo filename format (yyyymmddnn.jpg, y - year, m - month, d - date, n - photo number for that day) quite frustrating. My japanese phone was much better in that regard). If I do go back to Japan, it would probably just be for an overnight trip one weekend and I think I'd just stay out all night rather than get a hostel room.
End Post
Writing time: 25 minutes
Time since last post: 4 days
Current media: None (I have been watching a lot of Red Dwarf lately though)
Thursday, February 21, 2008
Some Good News
Looks like I may be getting paid for September and October soon. Apparently the forms for claiming unpaid wages are finally being sent out to people.
End Post
Writing time: 1 minute
Time since last post: 3 days
Current media: Good News Week (rated M due to sexual references, drug references and adult themes)
End Post
Writing time: 1 minute
Time since last post: 3 days
Current media: Good News Week (rated M due to sexual references, drug references and adult themes)
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