ONE-JAPAN Tourism Fund Investment Limited Partnership, jointly established by H.I.S., ZUU Funders, and Japan Asia Investment, has invested in Ocean, which operates the refund-based tax-free shopping platform “Ocean Tax Refund,” in its Series A round as the fund’s first investment.
Ocean Tax Refund is a service that enables international visitors to Japan to apply online for tax refunds via their smartphones after purchasing tax-free eligible products. No new app installation is required, as applications can be made through mini-programs or mini-apps within social networking services used in their respective countries and regions. The service supports multiple languages and more than 30 currencies. Participating merchants can implement the service with no initial or fixed monthly fees, and no additional procedures are required for their existing tax-free shopping operations. Ocean also provides inbound marketing and customer referral support by leveraging post-refund customer engagement.
The fund said it decided to invest after recognizing that Ocean has redesigned the refund process as a starting point for attracting future customers and enhancing the visitor experience, as well as the company’s ability to build an implementation track record and business foundation soon after its establishment. Japan’s tax-free shopping system will transition in November from the current point-of-sale tax exemption system, in which discounts are applied at the time of purchase, to a refund-based system in which refunds are issued after departure from Japan.
Ocean was established in May 2024 and is headquartered in Chuo Ward, Tokyo. Its representative director is Ryo Hoshino. Its capital is 138 million yen, including capital reserves, as of August 2026.
ONE-JAPAN Tourism Fund Investment Limited Partnership was established in October 2025 and primarily invests in unlisted Japanese companies related to tourism.
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