With the inauguration of the new Cabinet, the possibility of change is even greater. We look at trends surrounding domestic Web 3.0-related regulations.
Shortly after the new administration was formed, the political situation became fluid.
On October 1, 2024, Shigeru Ishiba, president of the Liberal Democratic Party, was elected as the 102nd Prime Minister of Japan, and a new cabinet was formed. Prime Minister Ishiba had run in the LDP presidential election five times, and finally won his long-cherished dream of becoming president. Prime Minister Ishiba was always ranked high in the standard opinion polls on "who is suitable to be the next prime minister," and he had gained support mainly in rural areas.
However, the party's base was unstable, and the road was long, with "factional logic" at work many times. Despite this, Prime Minister Ishiba decided to dissolve the House of Representatives just a few days after being nominated as prime minister. The dissolution, with the LDP facing headwinds over the issue of not reporting political funds and party income, was a crucial move to get out of a difficult situation.
However, in the recent Lower House election held on October 27, the LDP lost a large number of seats from the 247 seats it had before the election, and had to settle for 191 seats. Even when combined with its ruling coalition partner, Komeito, the LDP only managed to secure 215 seats, failing to maintain a majority as the ruling party.
The LDP's defeat in the Lower House election, which was a surprise attack, after the LDP had completely changed its statement that it would dissolve the Diet after a debate, has left the administration in an extremely difficult situation. There was even a temporary scenario in which Prime Minister Ishiba would not be selected as prime minister, depending on the cooperation of the opposition parties.
In the end, Prime Minister Ishiba was elected in the runoff election, and he managed to avoid the negative label of being the prime minister with the shortest number of days in office since the war. However, the current situation of a minority ruling party means that the administration is unstable, and there are growing concerns that this could lead to political stagnation.
In the current situation, it is impossible for the ruling party alone to pass the bill, and there is no way to achieve this without the cooperation of other parties. In particular, the passage of next year's budget bill will be the biggest focus. The Ishiba Cabinet, which has barely managed to maintain power, will soon be faced with a critical moment, and political maneuvering over the passage of the budget bill is likely to accelerate.
In some cases, he may be forced to resign in exchange for the passage of the budget bill. Under such circumstances, the LDP conceded the position of chairman of the House of Representatives Budget Committee, which oversees the deliberations of the Budget Committee, to the Constitutional Democratic Party of Japan. It is extremely unusual for an opposition party to hold the post of chairman of the House of Representatives Budget Committee, and the LDP has already been greatly affected by becoming a minority ruling party.
The future administration of the government and the trend of parliamentary deliberations are becoming even more unclear. However, there is no time to stop in order to solve the issues surrounding Japan and the world. This is true for both the ruling and opposition parties, and in particular, given that the proportion of standing committee chair posts held by the opposition parties has increased, it can be said that they have a greater responsibility than ever before to hold constructive discussions that satisfy the public.
In addition, the Diet is also expected to hold forward-looking discussions to promote innovation and create national interests. In this context, the actions of the Ishiba Cabinet are likely to attract attention in the field of Web 3.0.
▶Image source: NHK "House of Representatives Election 2024 Special Site"
Minister Taira's presence as digital minister is important in moving the industry forward
At the time of writing, the digital minister, who is the key to digital policies in the Ishiba Cabinet, is Masaaki Taira, a member of the House of Representatives who has supported Prime Minister Ishiba, and expectations for regulatory reform are higher than ever.
Minister Taira has a strong image of being at the forefront of developing Web3.0-related regulations, such as coordinating Web3.0 policies as the chair of the LDP web3PT (project team).
Since Minister Taira began focusing on the Web3.0 field, progress has been made in all areas, including the revision of the cryptocurrency tax system by companies and the enactment and implementation of the DAO law. In terms of actively working with the industry, it can be said that the conditions for Japan to promote Web3.0 are now in place more than ever before.
For the Web3.0 industry, a major focus will likely be on whether the policy of promoting Web3.0 established by the Kishida Cabinet will continue under the Ishiba Cabinet.
Although he did not explicitly state that he would promote Web3.0, Prime Minister Ishiba wrote in his policy document prepared during the presidential election that in "Regional Revitalization 2.0," which focuses on regional development, "we will utilize blockchain technology and NFTs to revalue and maximize the diverse analog value of regional areas, such as food and tourism experiences, at global prices."
This shows a positive attitude toward the use of blockchain to promote digitalization and create "regions with zero digital divides" and "digital regional cultural cities."
Minister Taira also serves as the chair of the LDP's "PT on the evolution and implementation of AI," so there is a possibility that progress will be made in AI as well. Japan tends to have a low AI utilization rate among major developed countries, and is in danger of being left behind by the world. In this context, AI and Web3.0 have a high affinity, and it is expected that they will work together to create national interests.
Minister Taira's presence will be seen as important to Prime Minister Ishiba in dealing with these emerging technologies. Not only is he the most digitally-savvy person in the party, but he also has extensive knowledge in the Web3.0 field, which utilizes AI and blockchain, and has a track record of solving problems.
In particular, interest in Web3.0 has declined compared to AI, and the hurdles to its use are also high, so building a track record is important in order to increase awareness and lead to mass adoption. Better efforts in the future will likely deepen the necessity and understanding of Web3.0.
Learn about the issues and current trends surrounding Web3.0 in Japan
As such, Web3.0 is currently attracting attention from both political and technological perspectives. Given this situation, it is necessary to once again grasp the current state of the industry and what issues have been raised.
In this special feature, we will explore how Web3.0-related regulations will be discussed with the inauguration of the new cabinet, how much progress will be made, and predict the future outlook for the industry, taking into account political aspects such as the results of the House of Representatives election.
To that end, we will first explain the current situation and issues in the Web3.0 field, and then what kind of trends are expected to emerge based on that in the next section.
The number of accounts opened in Japan has exceeded 10 million, due in part to the rise in the price of Bitcoin and other cryptocurrencies.
Interest in crypto assets grows as prices rise
First, let's briefly summarize the current state of the Web3.0 field in Japan. Although it is generally called Web3.0, the current situation is greatly influenced by trends related to crypto assets.
In particular, when crypto asset prices are favorable, the industry is lively, and conversely, when market conditions are poor, the atmosphere is gloomy, so the changes in enthusiasm and interest are very easy to see.
One measure of the situation in the Web3.0 field is the number of accounts opened at domestic crypto asset exchanges. According to member statistics updated monthly by the Japan Crypto Asset Exchange Association (JVCEA), the number of accounts opened at crypto asset exchanges exceeded 10 million as of April 2024.
With Japan's population of approximately 120 million, this means that one-twelfth of the population has opened an account at a crypto asset exchange. Note that this figure only indicates the number of accounts, and does not mean that 10 million people actually opened accounts at crypto asset exchanges. However, reaching the milestone of 10 million accounts is a milestone in the industry.
As of January 2023, the number of accounts in Japan was 6.46 million, but by January 2024, it had increased to 9.17 million. The rise in cryptocurrency prices may be one of the reasons behind this. However, above all, Mercari's pursuit of "simple and easy to understand" is a major factor.
Mercari began providing cryptocurrency services in March 2023 through its subsidiary, Mercoin, which holds a cryptocurrency exchange license. At the time, the company only offered Bitcoin trading services, but in just seven months, the number of users exceeded 1 million.
The number of users continued to increase steadily, and Mercari accounted for approximately 1.91 million of the 3.1 million accounts opened in the industry as a whole between April 2023 and the end of March 2024. Mercari's share is 61.5%, more than half of the total.
Of particular note is the user base that opened cryptocurrency trading accounts on Mercari. Over 80% of users have never traded crypto assets. Despite this, the reason why so many people have opened accounts seems to be due to the ease of use and usage.
In addition, Mercari, which has 23 million monthly users, can actually use Bitcoin for payments on the platform, so the payment experience, which is the original use of crypto assets, is also an eye-catching point.
Perhaps due to these efforts, 64.7% of users who actually purchased Bitcoin on Mercari answered that their image of Bitcoin has "changed to a positive image."
As mentioned above, it can be assumed that the rise in price also led to increased user interest, but above all, this is an example that proves that providing an easy-to-understand experience of actually using crypto assets leads to an increase in users.
The reality is that many people still have negative images of crypto assets, such as "suspicious" and "something that will cause losses." However, it is also true that in recent years, due to the entry of large companies, the establishment of regulations, and the promotion of understanding, more and more people are viewing them in a positive light.
There is hope that the industry will gradually develop through initiatives that take advantage of the benefits of Web3.0, such as crypto assets and NFTs. However, there are still major barriers that hinder the trading and use of crypto assets. This is the "cryptocurrency tax system," which has been a problem for the industry and cryptocurrency users for many years.
▶ Mercari began offering cryptocurrency services in March 2023, starting with its Bitcoin trading service. The number of users is growing at an accelerating rate as the company strives to make its services easy to use and understand. Image: Quoted from the press release
Long-awaited reform of cryptocurrency tax law
The movement towards reform of the cryptocurrency tax system, which the Web3.0 industry has been calling for for many years, will always attract attention. One of the major factors that is hindering the revitalization of cryptocurrency trading in Japan is the tax system on cryptocurrency.
As many people already know, profits generated by individuals through cryptocurrency trading are basically treated as miscellaneous income. If you make a profit of more than 200,000 yen per year, you need to file a tax return. In addition, because it is treated as miscellaneous income, it can be subject to a large tax of up to 55% when combined with local resident tax, which is also a major obstacle.
In order to change this situation, domestic related organizations such as JVCEA have been calling for the reform of the cryptocurrency-related tax system. The two most important items are "to be subject to 20% separate taxation and loss carryover deduction (for three years)" and "to be subject to tax when cryptocurrency is exchanged for legal tender, rather than when it is exchanged between cryptocurrencies."
By making crypto assets subject to separate taxation, they can be reported separately from other income. In addition, the tax rate will be a flat 20%, which is a combination of 15% income tax and 5% local resident tax, so if you have a large taxable income, you will pay much less tax than the current comprehensive tax rate of up to 55%.
There are pros and cons, but crypto assets are very volatile, and many people have been unable to take profits because they were worried about taxes. However, by making them subject to separate taxation, it will be possible to keep more profits than ever before.
Also, as mentioned above, crypto assets are highly volatile, so there are cases where large losses are incurred. On the other hand, if a profit of more than 200,000 yen is made in the year following a loss, the current situation is that a reporting obligation arises along with other income.
For example, if you have a loss of 1 million yen in the current year, but a profit of 200,000 yen the following year, you will be taxed along with your salary income. However, by making them subject to loss carryover deduction, you can total the losses for one year and deduct the amount that cannot be carried forward for that year for three years from the following year.
If a loss of 1 million yen occurs in the current year, and a profit of 200,000 yen is generated the following year, it would be subject to reporting if it were miscellaneous income, but if it is subject to loss carryover deduction, the taxable amount would be 0 yen since the loss of 800,000 yen has not yet been made up.
Furthermore, currently, even exchanges of cryptocurrencies are subject to tax if the profit is large. Although it is not widely known, when exchanging cryptocurrencies for cryptocurrencies, it is treated as "selling the cryptocurrencies you hold once" and "purchasing cryptocurrencies with the money remaining after the sale."
For example, suppose you buy 1 BTC for 1 million yen and the price per BTC rises to 1.2 million yen. If you exchange all of that 1 BTC for Ethereum (ETH), the difference between the purchase price of Bitcoin and the price at the time of exchange with Ethereum will be 200,000 yen, so it will be subject to reporting.
The strength of cryptocurrencies is that they do not rely on legal tender and allow for seamless and flexible transactions compared to traditional finance. However, under the current tax system, freedom is effectively restricted and profit and loss calculations are extremely complicated, so it can be said that the revitalization of cryptocurrency trading is far from over.
This will have a major impact on the use of cryptocurrency in Japan and, ultimately, on the development of Web3.0, causing Japan to fall far behind the global trend. In order to prevent this situation from occurring and to promote the spread of Web3.0, tax reform of cryptocurrency is essential and urgent.
Is now the best time to change the cryptocurrency tax system?
Revision of the cryptocurrency tax system has been requested many times, but in fact, there are many positive elements to it, considering the current situation of the Ishiba administration and the situation surrounding cryptocurrency. Broadly speaking, there are three elements, which are as follows:
"The LDP web3 White Paper, whose proposals have been realized under the leadership of Minister of Digital Affairs Taira"
"The Democratic Party for the People, which made a great advance in the Lower House election"
"Review of cryptocurrency regulations by the Financial Services Agency"
First, the LDP's "web3 White Paper" was discussed by the LDP web3PT, led by Minister of Digital Affairs Taira, as mentioned above, and summarized the current situation in the Web3.0 field in Japan and the associated proposals.
In addition to making profits from cryptocurrency transactions subject to a 20% separate tax and loss carryover deduction, this proposal incorporates several requests from industry groups, such as taxing cryptocurrency at the time it is converted into legal tender, rather than taxing it when it is exchanged between cryptocurrencies.
It also touches on a wide range of areas, including public-private collaboration aimed at revitalizing NFTs, supporting the overseas expansion of Web3.0 content, and promoting the circulation of security tokens.
To begin with, web3PT is a project team within the LDP's Digital Society Promotion Headquarters. No matter how lively the discussions are at web3PT, unless the Digital Society Promotion Headquarters approves the bill, it will not be on the basis of being submitted to the Diet. After the Digital Society Promotion Headquarters approves the bill, it will be reviewed by the Policy Research Council and approved by the Council before it becomes an official LDP policy.
Some of the proposals and policies compiled by web3PT have already been implemented. Among them, the fact that the tax system for crypto assets for corporations has been revised for two consecutive years is a major step forward.
Until now, when corporations held crypto assets issued by themselves or third parties, unrealized gains were also subject to taxation, but this will now be excluded if certain conditions are met. This will make it easier for corporations to hold crypto assets, and will also help prevent startups from moving overseas.
First of all, the tax system for crypto assets for corporations has been revised in order to prepare the ground for Web3.0. Political power is essential for such visible reforms. Moreover, the appointment of Taira, who has invigorated discussions on Web3.0 within the LDP, as Minister for Digital Affairs raises great expectations for the industry's progress.
Naturally, the Minister for Digital Affairs will not be directly in charge of taxation, but his words will carry even more weight by having his name in the Cabinet. Given that the proposals made in the "Web3 White Paper" have been steadily implemented over the past two years, it can be said that the ideal person for Japan's Web3.0 industry has been appointed to a key position in the digital field.
▶Excerpt from "web3 White Paper 2024 - Towards an era where new technologies become social infrastructure" and created by the editorial department
Momentum for tax reform is building and there is a possibility that the tax system will be revised in stages.
Democratic Party for the People Representative Tamaki also requests revision of the cryptocurrency tax system
Democratic Party for the People has seen a surge in its popularity and attention due to its great advance in the House of Representatives election. Before the election, it had 7 seats, but with this election, it has increased its number of seats by 4 times to 28 seats. With 21 seats in the House of Representatives, which is enough to submit bills, it is expected that its presence will become even more prominent in the future.
Democratic Party for the People is now in a position to hold the casting vote that will influence national politics, as the ruling party has fallen short of a single majority. Rather than fully cooperating with the ruling party and the Constitutional Democratic Party, the largest opposition party, it has proposed cooperation that is equidistant and "policy-oriented".
The reason for the Democratic Party for the People's great advance is that it has continued to appeal for the revision of the so-called "1.03 million yen wall" and an easy-to-understand increase in take-home pay. They have consistently demanded that the ruling party realize this, and have also indicated their intention not to support the FY2024 supplementary budget if the opposition party does not comply.
Since obtaining the cooperation of the opposition party is an absolute requirement for smooth administration in the future, the ruling party has begun policy discussions with the Democratic Party for the People. The Democratic Party for the People, which is gaining in strength, is led by Representative Yuichiro Tamaki. Rather than traditional ruling and opposition party politics, he has shown an attitude of "resolution rather than confrontation," and has garnered support especially from those in their 20s to 40s, known as the working generation.
Representative Tamaki has often mentioned the cryptocurrency tax system. During the LDP presidential election, he requested that the review of the cryptocurrency tax system and regulations be discussed in relation to financial asset taxation.
Representative Tamaki's request is similar to that of industry groups and the LDP web3PT, and he claims that revising the tax system will also lead to the elimination of Japan's digital trade deficit, which exceeds 5 trillion yen annually. He then states that "Web3.0 and cryptocurrency businesses should be utilized."
In fact, the manifesto of the Democratic Party for the People includes the introduction of separate taxation on crypto assets under the heading of "Tax cuts for investment in growth sectors." In addition, it also includes the introduction of crypto asset ETFs, which are actively traded in the United States, and the increase in leverage ratios, which are eagerly awaited by crypto asset users.
▶The Democratic Party for the People may also have a presence in the cryptocurrency tax system Image: Democratic Party for the People news release
The Financial Services Agency begins to move in earnest toward review
In addition to these political movements, the Financial Services Agency has finally announced its intention to seriously review cryptocurrency regulations and tax systems. Specifically, it will discuss whether it is appropriate to regulate cryptocurrency within the current framework of the Payment Services Act.
Current cryptocurrency is often handled for investment purposes, such as speculative trading. On top of that, if it is determined that investor protection is insufficient under the current regulations, it seems that it is considering making it subject to the Financial Instruments and Exchange Act.
If cryptocurrency is considered a financial product, the current tax system will be disproportionate, so it is expected that discussions on reforming the cryptocurrency tax system will accelerate with unprecedented intensity. Furthermore, there is a possibility that discussions on the realization of cryptocurrency ETFs will be invigorated, so attention is focused on these trends.
In addition, in its "Request for Tax Reform in FY2025," the Financial Services Agency stated that "tax treatment of cryptocurrency transactions needs to be considered from the perspective of whether cryptocurrency should be treated as a financial asset that should be the subject of public investment," and cited this as one of the issues.
Considering that even the Financial Services Agency has mentioned a review of the cryptocurrency tax system, it can be said that the industry's long-cherished wish is finally likely to be fulfilled.
In addition, the Financial Services Agency has begun to create a system that makes it easier for game developers and other businesses to handle cryptocurrency, and has determined that services that use self-managed wallets do not fall under the category of cryptocurrency exchange services, and is showing moves to promote and spread Web3.0.
The focus of attention regarding the cryptocurrency tax reform is the "2025 Tax Reform Outline" that will be released in December.
The focus of attention regarding the cryptocurrency tax reform is the "2025 Tax Reform Outline" that the ruling party will put together around mid-December. The focus will be on whether the tax reform for cryptocurrencies will be included.
The focus will be on whether the tax reform for cryptocurrency will be included in this.
At this point, it is unclear whether the content on the cryptocurrency tax system will be included. Priorities may change depending on some policies, especially the raising of the "1.03 million yen wall" that is the condition for income taxation requested by the Democratic Party for the People, so it is quite possible that it will be postponed this time.
In addition, it is possible that the requests of industry groups and others regarding the cryptocurrency tax system will not be realized all at once, but will be implemented in stages. For example, separate reporting taxation and
Although a three-year loss carryover deduction will be introduced, measures to exclude cryptocurrency-to-cryptocurrency exchanges from taxation at that time will not be taken. In any case, momentum for tax reform is building, so we would like to keep an eye on developments.
What will happen to Japan's Web3.0 sector, including the realization of cryptocurrency ETFs?
So far, we have mainly touched on the revision of the cryptocurrency tax system, but it is most important to eliminate the major bottleneck in the development of Web3.0 in Japan. If the tax reform is realized, cryptocurrency trading will become more active and there will be more opportunities to come into contact with Web3.0.
In terms of revitalizing trading, a review of the multiplier in leveraged cryptocurrency trading will also be a major focus. The current leverage multiplier is limited to 2x from the perspective of customer protection, and this is also said to be a factor hindering the revitalization of cryptocurrency trading in Japan.
In fact, when Japan was leading the world in cryptocurrency trading, it was possible to trade at a maximum of 25x. Even if you refer to the cryptocurrency trading status published by the JVCEA, the trading amount has decreased significantly since fiscal 2021, when the leverage multiplier was lowered.
Against this background, there are currently requests to change the leverage multiplier, and it is possible that it will be raised to around 10x in the future. In addition, under the current regulations, it is difficult to realize a cryptocurrency ETF, but the situation will change significantly depending on the discussion on whether or not cryptocurrencies mentioned above should be considered subject to the Financial Instruments and Exchange Act.
▶Since the reduction in the leverage ratio, the transaction amount has decreased significantly. Image: Excerpt from JVCEA's "Annual Report on Cryptocurrency Trading 2023"
In October 2024, domestic cryptocurrency exchanges and securities companies announced an industry-wide proposal to realize cryptocurrency ETFs. Specific discussions on legal development are expected to accelerate from now on, but it is possible that the realization will begin with spot ETFs for Bitcoin and Ethereum, which together account for more than 90% of the cryptocurrency ETFs deposited in domestic cryptocurrency exchanges.
Bitcoin spot ETFs are actively traded in the United States, and although it has been less than a year since trading began, the overall size has grown to about two-thirds that of gold ETFs. In Japan, where the trading culture of FX and other trading is strong, it is expected that cryptocurrency ETF trading will also become more active, and when it is realized, the movement of institutional investors to incorporate cryptocurrencies into their portfolios is likely to accelerate.
Japan's Web3.0 area is currently undergoing a major turning point, including political background. Looking at the world, Bitcoin and other cryptocurrencies will likely attract even more attention, especially with former President Trump, who advocates the promotion of cryptocurrencies, expected to become the next president of the United States.
First of all, the long-standing issues need to be resolved, but the possibility of this happening is increasing. Japan, which has been the first in the world to establish a foundation for cryptocurrency regulations such as customer protection, is approaching the day when it will once again make its presence felt in the Web3.0 field.
The appearance of cryptocurrency ETFs and revisions to leverage ratios are anticipated in Japan
Summary: Japan's Web3.0 is at a major turning point
Although there are concerns about the administration's management due to the ruling party losing its majority, the situation is relatively positive in the Web3.0 field due to the appointment of Minister of Digital Affairs Taira, who is positive about reforming the cryptocurrency tax system, and the rise of the Democratic Party for the People. First of all, attention should be paid to the contents of the "2025 Tax Reform Outline" to be announced in December.
With the price of Bitcoin and other cryptocurrencies rising, the number of users who come into contact with Web3.0 is likely to increase further in the future. On top of that, there is a possibility that public-private collaboration aimed at revitalizing NFTs, support for the overseas expansion of Web3.0 content, and promotion of the distribution of security tokens will also accelerate.
Similar to the Bitcoin spot ETF that is actively traded in the United States, an industry-wide proposal has been announced to realize a cryptocurrency ETF in Japan. In addition, in order to revitalize domestic cryptocurrency trading, there is discussion on increasing the ratio of leveraged cryptocurrency trading.
Column
US government to save 1 million BTC? Trump administration aims to become a Bitcoin powerhouse
With the market revitalized by former President Trump's victory in the US presidential election, attention is being focused on the "Bitcoin Reserve Bill" submitted by Republican Senator Lummis. This bill would see the United States save 1 million BTC as a reserve. Specific discussions are expected to take place after Trump takes office, but if it is passed, it is likely to have a major impact on the cryptocurrency market.
▶Image: Shutterstock
MAGAZINE
Iolite Vol.11
January 2025 issueReleased on 2024/11/28
Interview Iolite FACE vol.10 David Schwartz, Hirata Michie
PHOTO & INTERVIEW Nakamura Shido
Special feature: "Unlocking the Future: The Arrival of the AI Era," "The Ishiba Cabinet is in chaos with hopes and fears intersecting. What will happen to Japan's Web 3.0 in the future?" "Learn about the tax knowledge necessary for cryptocurrency trading! Explaining the basics and techniques that can be used even now"
Interview: SHIFT AI Kiuchi Shota, Digirise's Chaen Masahiro, Bybit's Ben Zhou, Monex Group Inc.
Zero Office Head/Monex Crypto Bank Bandai Atsushi and Asami Hiroshi, Kaoria Accounting Office Representative and Active Tax Accountant Fujimoto Gohei
Series Tech and Future Sasaki Toshinao...etc.
MAGAZINE
Iolite Vol.11
January 2025 issueReleased on 2024/11/28
Interview Iolite FACE vol.10 David Schwartz, Hirata Michie
PHOTO & INTERVIEW Nakamura Shido
Special feature: "Unlocking the Future: The Arrival of the AI Era," "The Ishiba Cabinet is in chaos with hopes and fears intersecting. What will happen to Japan's Web 3.0 in the future?" "Learn about the tax knowledge necessary for cryptocurrency trading! Explaining the basics and techniques that can be used even now"
Interview: SHIFT AI Kiuchi Shota, Digirise's Chaen Masahiro, Bybit's Ben Zhou, Monex Group Inc.
Zero Office Head/Monex Crypto Bank Bandai Atsushi and Asami Hiroshi, Kaoria Accounting Office Representative and Active Tax Accountant Fujimoto Gohei
Series Tech and Future Sasaki Toshinao...etc.