Rezz Posted July 21, 2003 Share Posted July 21, 2003 Hirotishi Honda, head of Mugen Co. has been accused of evading 1,000,000,000yen in taxes. A commision has been assembled to gather details of how the company has "absorbed" profits from their F1 division in paticular, and the rest of the company. The lucrative F1 business has been the primary source of the unpaid taxes. The unpaid taxes have been used to buy property and other assets. I'll keep you posted on further developments. /Rezz (druken spelling mistakes edit!) Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/ Share on other sites More sharing options...
Guest RedLineGTR Posted July 21, 2003 Share Posted July 21, 2003 thats a dam load of zeros.......dam.. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440439 Share on other sites More sharing options...
Guest RedLineGTR Posted July 21, 2003 Share Posted July 21, 2003 money is money...the more money the better in business. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440442 Share on other sites More sharing options...
Rezz Posted July 21, 2003 Author Share Posted July 21, 2003 Start buying your Mugen goods - keychains, t-shirts, umbrellas, that sort of shit now, coz it may not be around for much longer! Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440454 Share on other sites More sharing options...
Nismodified Posted July 21, 2003 Share Posted July 21, 2003 not many honda fellas here Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440797 Share on other sites More sharing options...
Rezz Posted July 21, 2003 Author Share Posted July 21, 2003 Mugen gear might be worth a bit down the track if they go under... Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440821 Share on other sites More sharing options...
Silver-Arrowz Posted July 21, 2003 Share Posted July 21, 2003 Hehe... Looks like BAR need to find a new engine supplier. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440845 Share on other sites More sharing options...
Parag0n Posted July 21, 2003 Share Posted July 21, 2003 wow 1 billion yen eh that could buy me alot of skylines ! Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-440873 Share on other sites More sharing options...
williamc Posted July 22, 2003 Share Posted July 22, 2003 hmmmmmmmm but if they have been absorbing profits, it means that they are actually making profit...... its not like theyve have been absorbing their losses..... So all im guessing it means is that they will have to sell the property etc to pay back the tax, its only about $12 mil australian Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441493 Share on other sites More sharing options...
DoughBoy Posted July 22, 2003 Share Posted July 22, 2003 Hang on, people are actually making money in F1? And here I thought all motorsport was a financial drain (but a good development/advertising agent)! Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441564 Share on other sites More sharing options...
Rezz Posted July 22, 2003 Author Share Posted July 22, 2003 Originally posted by williamc hmmmmmmmm but if they have been absorbing profits, it means that they are actually making profit...... its not like theyve have been absorbing their losses..... So all im guessing it means is that they will have to sell the property etc to pay back the tax, its only about $12 mil australian I dunno. All I know now is that taxation department guys turned the offices upside down collecting financial records. Honda-san is like fully disgraced. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441667 Share on other sites More sharing options...
Rezz Posted July 22, 2003 Author Share Posted July 22, 2003 Originally posted by DoughBoy Hang on, people are actually making money in F1? And here I thought all motorsport was a financial drain (but a good development/advertising agent)! Aparently, Mugen Honda gets money just by scoring F1 Championship points. They've got 4 or wins to their name (don't ask me, thats what they said on the news) and for a win, you get a substantial amount. Mugen wasn't declaring their cut. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441688 Share on other sites More sharing options...
Timmy G Posted July 22, 2003 Share Posted July 22, 2003 so is mugen owned by honda? or just specialising in tuning honda stuff? Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441849 Share on other sites More sharing options...
Rezz Posted July 22, 2003 Author Share Posted July 22, 2003 I'm no Mugen expert, but Hirotoshi's father founded Honda Motor Co, and Hirotoshi wanted his own business, so the Mugen-Honda relationship is a family one. As for ownership, I'm sure a shitload of Honda money is in Mugen, how much though, I'm not sure. Honda cancelled it's funding for it's F1 engines in 1992, and Mugen picked up the F1 left-overs and started the Mugen-Honda F1 engine supplier. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-441964 Share on other sites More sharing options...
R31Nismoid Posted July 22, 2003 Share Posted July 22, 2003 hhmm... if they go through ALL the books (that they will now) then who knows what else they might find... Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442001 Share on other sites More sharing options...
Rezz Posted July 22, 2003 Author Share Posted July 22, 2003 Thats what I`m thinking... Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442057 Share on other sites More sharing options...
Silver-Arrowz Posted July 22, 2003 Share Posted July 22, 2003 Originally posted by DoughBoy Hang on, people are actually making money in F1? And here I thought all motorsport was a financial drain (but a good development/advertising agent)! The big teams rake in the big bucks. Ferrari make a shit load cause it costs a mansion to have your company sticker on their car. Let alone the space on their uniforms and even the caps they wear after the race. Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442256 Share on other sites More sharing options...
Timmy G Posted July 22, 2003 Share Posted July 22, 2003 i don't think they aim to profit, they put all the money back into driver salaries and r&d btw when i first read this thread i thought it was like.. Subject: Mugen Boss caught! Body: ... doing 300kph Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442261 Share on other sites More sharing options...
CerealKiller Posted July 22, 2003 Share Posted July 22, 2003 Originally posted by Timmy G btw when i first read this thread i thought it was like.. Subject: Mugen Boss caught! Body: ... doing 300kph same. I thought he was trying to out do the Top Secret boss (like the UK incident.) Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442341 Share on other sites More sharing options...
Timmy G Posted July 22, 2003 Share Posted July 22, 2003 ah yeah i saw that. with the supra and r33 gt-r Link to comment https://www.sau.com.au/forums/topic/20985-mugen-boss-caught/#findComment-442554 Share on other sites More sharing options...
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