Genshiro Kawamoto ( , Kawamoto Genshiro, born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. The local land development company bought 27 properties along Kahala Avenue, which represents 16 percent of the strip's residential lots, as well as two residential lots and a preservation-zoned . Known as the " Ginza Property King," Kawamoto was arrested last year by Tokyo District Public Prosecutor's Office on charges of tax evasion. Genshiro Kawamoto owned several buildings, villas and mansions in Kahala. Mahalo for supporting Honolulu Star-Advertiser. Also known as Gensiro Kawamoto. [2] But his creations have been slow to emerge and largely remain unsightly. Earlier this year, Kawamoto was arrested in Tokyo on suspicion of failing to pay more than 800 million yen, or $8.5 million, in corporate taxes. Kawamoto crudely broke down walls, leaving rubble lying about. "It sounds like he had some sort of slush fund and he was using the money to buy these god-awful statues,"Turbin said. Genshiro Kawamoto. Resides in Citrus Heights, CA. A Tokyo Shimbun article said Kawamotos company had nearly 700 tenants in 60 buildings in the Ginza area of Tokyo at the peak of the bubble but that occupancy has fallen to 80 tenants today with buildings almost empty. After busily snapping up dozens of properties in ritzy Kahala over the past couple decades, the. He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many O ahu homes. Includes Address (2) See Results. Genshiro Kawamoto. These include an 8,438-square-foot lot on Kahala Avenue, which closed for $1.3 million to a local buyer in December, and two nearby flag lots, which sold for $9.3 million to a Mainland buyer. Alexander & Baldwin says it will refurbish the properties. Japanese Billionaire Sells Honolulu Properties For $98 Million. Kawamoto is the president of a real estate company called 'Marugen Building' in Ginza, Tokyo. Japanese Billionaire Is Raising Eyebrows, Razing Houses. Click a location below to find Genshiro more easily. Several homes were demolished, some have been vandalized and some were sold. You are also agreeing to our Terms of Service and Privacy Policy. Resides in Citrus Heights, CA. Kawamoto checked tax documents before they were submitted, the sources said. Between 2009 and 2011, Marugen Group, which Kawamoto presides over, concealed 3.543 billion yen in earnings in evading 1.06 billion yen in taxes. 4607 Kahala Ave ( MLS# 1006464) is listed for $17.8 Million Prices range from $1.88 Million to $17.8 Million. On four properties he has arranged dozens of statues, including life-size lions, nudes and towering pagodas. He got into trouble in his home country Japan for tax evasion. Dozens of statues that Japanese real estate tycoon Genshiro Kawamoto erected on four of his sprawling estates along Kahala Avenue have been described by observers in these terms. I hope (Japanese authorities)look into money laundering.". Courts have sentenced 86 year old property mogul Genshiro Kawamoto to 4 years in prison for tax evasion. I feel sorry for the neighbors who have to see that every day.". Richard Turbin, a local attorney who lives next to a Kawamoto property and has called for city officials to penalize Kawamoto more severely for repeated violations of dangerous and unsightly conditions, wondered whether Japanese tax authorities might seek to claim some of the statues. "Its such a shame,"he said. Now that the . Those who have met Kawamoto describe dueling characteristics of cunning and naivet. TOKYO (TR) - Whispers are floating through the bars and clubs of Tokyo's Ginza entertainment district about what has become of property tycoon Genshiro Kawamoto. [1] He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many Oahu homes. TOKYO. Stanton Johnston pointed to . "Im sure hell work it out,"Foth said. Lived In Sacramento CA. But in a statement Tuesday, Benjamin said: "Our experience and balance sheet strength allowed us to negotiate and close the all-cash deal in less than 90 days, once the seller indicated a willingness to sell, and we anticipate achieving investment returns consistent with our past Hawaii investments.". Are there mansions in Japan? Hawaii Kai resident Rodney Foth, however, supports Kawamoto and said its understandable that it would take a part-time visitor from Japan a long time to assemble a collection of adjacent lots and convert them into gardens and museums. [2] More recently, Kawamoto is known for owning 30 properties in the Khala area of Honolulu where he has allowed them to be run . The yards of some of the vacant mansions are overgrown and their swimming pools drained. Yet that is what Japanese media are suggesting might be the case after Kawamoto, 81, was arrested Tuesday in Tokyo for suspected tax evasion. Some of his homes fell into disrepair and racked up city fines. Honolulu, HI 96813 An eclectic, some might say eccentric, array of Greek statutes stretches along one lawn of the prime oceanfront properties. 2023 BuzzFeed, Inc. All rights reserved. A tired-looking mattress sits on top of a red fabric platform, while a tiger-skin rug lays just . Ramirez's attorney says Kawamoto has a track record of letting all of his properties decay and . 328 people named Genshiro Kawamoto found in California and Hawaii. CINDY ELLEN RUSSELL / CRUSSELL@STARADVERTISER.COM, Read this story for free: Watch an ad or complete a survey, Layoff count at Tesoro revised to 210 workers, Sam Choy's BLC will close at month's end after 15 years. "It looks like they went to Costco and bought several six-packs of statues and then threw them all over. Alexander & Baldwin, the state's fourth largest private landowner, purchased the properties with cash. If you're looking to enter Oahu's most publicized luxury market, now may be your chance. Refine Your Search Results. He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many Oahu homes. Log in now to continue reading this story. Part of HuffPost Home & Living. TOKYO (TR) - The Tokyo District Court last month handed Genshiro Kawamoto, a legendary property tycoon, a prison term for tax evasion, reports the Asahi Shimbun (Nov. 20). The assessed land value of the properties is $117.6 million. Kawamoto announced a plan in 2006 he dubbed "Kahala Avenue Mission" to rent nine homes to nine Native Hawaiian families for $150 to $200 a month, though complaints over housing discrimination led him to curtail the plan and provide three Hawaiian families with free residences since 2007. The properties will be up for sale immediately, according to the company. Activate your Digital Account now. The Kawamoto chapter ultimately ended this week, as A&B sold the last three of the 30 properties. HONOLULU (HawaiiNewsNow) - Much has been said about eccentric Japanese billionaire Genshiro Kawamoto and the controversial statues of nudes that were on some of his Kahala properties. Enjoy this free story! In Hawaii, Kawamoto returned about a decade ago and began selling most of his homes that he had rented out with little upkeep over the preceding 15 years. The local land development company bought 27 properties along Kahala Avenue, which represents 16 percent of the strip's residential lots, as well as two residential lots and a preservation-zoned parcel on Oahu's windward side and 146 acres of agricultural land in south Maui. Genshiro Kawamoto is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. He has several night clubs in Tokyo that are apparently connected to the Yakuza. Alexander & Baldwin announced Tuesday that it has purchased 31 properties from Japanese billionaire Genshiro Kawamoto for $98 million. Windows are boarded up and spray paint is scrawled across some of the homes. "I personally think its quite hideous,"she said. One neighbor, who asked not to be identified so as not to attract a reaction from Kawamoto, wondered whether Kawamoto would be allowed to return to Hawaii if convicted, and suggested that perhaps his purported good deeds here that included breaking down walls and filling in swimming pools were being repaid in Japan. "He means well,"said Foth, who was eliminating graffiti Tuesday on one Kawamoto home and said he keeps an eye out for vandals and does maintenance projects for the landowner. Print subscriber but without online access? 1. Genshiro Kawamoto in California. The Tokyo District Public Prosecutor's Office special investigation squad accused Kawamoto of hiding 3.5 billion yen ($35.8 million) in earnings and arrested him in early March, the newspaper. Refine Your Search Results. Last month, Civil Beat asked Chris Benjamin, president of Alexander & Baldwin, about word that the company was buying the properties but he denied anything was in the works. tokyoreporter.com Ginza's 'property king' disappears Alexander & Baldwin announced Tuesday that it has purchased 31 properties from Japanese billionaire Genshiro Kawamoto for $98 million. By Sophie Cocke. Kawamoto, once ranked among international billionaires by Forbes, has denied that he cheated on his taxes. The bedroom is perhaps the most opulent space in the mansion. Prosecutors in Japan allege that Kawamoto evaded about $9 million in corporate taxes from his Marugen group companies, which operate more than 50 buildings in places such as Ginza in Tokyo and the Hakata and Kokura districts of Fukuoka prefecture, according to Japanese media reports. Stanton Johnston, a Kahala resident who sold his late mothers house to Kawamoto three years ago to satisfy taxes and charitable giving, said Kawamoto lied to him about keeping the gracious home and numerous trees on the property that now features lion and nymphlike female nude statues. Copyright 2023 StarAdvertiser.com. Genshiro Kawamoto (born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. Words he clearly lived by, as in 2013 he was arrested on suspicion of evading over 800 million yen in payments a charge that in 2018 eventually resulted in the then 86-year-old receiving a 4-year prison sentence along with a 240 million yen fine. Genshiro Kawamoto ( , Kawamoto Genshiro, born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. You're reading a premium story. As . Genshiro Kawamoto's abandoned mansion. Statues of lions have been placed in the driveway of one of Genshiro Kawamoto's Kahala Avenue homes. Soon the last traces of Japanese billionaire Genshiro Kawamoto's occupation of Kahala Avenue will be obliterated. Marugen is a company that Kawamoto established in 1961 to seek real estate opportunities after closing a kimono shop he inherited from his family, and the business grew into a cash machine. Now, Kahala residents who have been perplexed and in some cases angered by Kawamotos property makeovers on the street dotted with million-dollar beachfront mansions are wondering how the tax evasion case might affect their enigmatic neighbors plans to transform some of his real estate into art and garden museums. Japanese television network NTV reported that the money from the alleged tax evasion was used to buy art for Kawamotos planned Hawaii museum project. The following article is provided by Civil Beat. The Tokyo District Public Prosecutor's Office special investigation squad accused Kawamoto of hiding 3.5 billion yen in earnings and arrested him in early March. When Kawamoto was well into his 50s, newspapers still described his "boyish" good looks, but also his. #7-500 All Filters. All Filters. Read Civil Beat's three-part series on Genshiro Kawamoto and Kahala neighborhood concerns, Land Barren: Japanese Billionaire Is Raising Eyebrows, Razing Houses. Kawamoto rarely grants interviews, and yet at times he has appeared to relish media attention. Caroline Bombar-Kaplan, a visitor from Washington state, couldnt help stopping on the side of the road to take a closer look Tuesday. Kawamoto told the Yomiuri Shimbun on Feb. 22 that he did not handle accounting details. Genshiro Kawamoto is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. By entering your email and clicking Sign Up, you're agreeing to let us send you customized marketing messages about us and our advertising partners. Read the full story with our Print & Digital Subscription. Kawamoto was arrested in Japan on alleged tax evasion on Tuesday. "This acquisition is truly a once-in-a-lifetime opportunity, and we are gratified to see our efforts come to fruition.".
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