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Supercomputer venture company, president indicted for corporate tax fraud

This Oct. 3, 2016 file photo shows PEZY Computing President Motoaki Saito in Tokyo's Chiyoda Ward. (Mainichi)

Public prosecutors on Feb. 13 indicted a supercomputer development company president who has already been charged with subsidy fraud, along with the company itself, for corporate tax evasion.

According to the indictment by a special investigative unit of the Tokyo District Public Prosecutors Office, Motoaki Saito, the 50-year-old president of PEZY Computing, stands accused of violating the Corporate Tax Act by concealing some 848 million yen in corporate income over the course of five years up until the business quarter closing at the end of December 2014. He allegedly hid the income by faking outsourcing costs from his company to other firms including one where he served as a board member, among other expenses. In this way, the Chiyoda Ward-based firm allegedly dodged roughly 230 million yen in corporate taxes and some 46 million yen in consumption tax and other taxes from 2011 to 2014. It appears that Saito used a portion of the hidden funds for personal use.

The amount of corporate tax that prosecutors accused Saito of evading in their indictment was roughly 1 million yen less than he was suspected of evading at the time of his arrest. Prosecutors have not disclosed whether Saito has admitted to the charges against him.

In addition to the tax evasion, Saito was also indicted for fraud, for allegedly conspiring with PEZY former project development manager Daisuke Suzuki, 47, to swindle a total of approximately 653 million yen in subsidies from the New Energy and Industrial Technology Development Organization (NEDO) for activities during the 2012 and 2013 fiscal years.

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