Z Venture Capital (ZVC) has invested in Ocean Inc., a company building a tax-free shopping platform for inbound travelers to Japan.

Japan’s inbound tourism market is rebounding rapidly.

*¹ In 2024, the number of foreign visitors reached around 37 million, surpassing the pre-COVID record of 32 million in 2019. The combination of a weaker yen, strong travel demand, and renewed global interest in Japan’s culture and attractions is once again shining a spotlight on the country’s potential as a tourism powerhouse.

Amid this recovery, *² the Japanese government has announced that from November 2026, it will shift the current “point-of-sale tax exemption” system to a refund-based model. The reform aims to prevent misuse of the tax exemption program while driving greater transparency and efficiency. This change will require retailers to modernize their operations and integrate data systems—but it will also unlock new opportunities for digital transformation and data-driven insights into inbound spending.

Ocean sees this policy shift as a major opportunity. The company is building a platform that helps retailers streamline operations while enhancing the shopping experience for foreign visitors.

At the core of its offering is "Ocean Tax Refund"—a solution fully compliant with the new refund system. Powered by AI and data infrastructure, it allows seamless refunds without extra operational steps, supporting various payout methods such as bank transfer, credit card, overseas QR payments, and PayPal. Through familiar interfaces like LINE Mini Apps, Ocean delivers a simple, intuitive experience for travelers.

Beyond simplifying tax refunds, Ocean also plans to leverage purchasing data to help retailers run more effective marketing campaigns. ZVC is particularly inspired by Ocean’s ambition to use technology to turn regulatory change into innovation—and to build a new layer of infrastructure for Japan’s inbound economy.

ZVC is proud to back Ocean as it takes on the challenge of redefining the future of Japan’s fast-growing inbound market.

(References)

*¹ From Japan Tourism Agency "Number of Foreign Visitors to Japan and Number of Japanese Departures"

https://www.mlit.go.jp/kankocho/tokei_hakusyo/shutsunyukokushasu.html

*² From Japan Duty Free Association

https://zenmenkyo.jp/refund

*² From National Tax Agency FY2025 Tax Reform

https://www.nta.go.jp/publication/pamph/shohi/menzei/201805/pdf/0025003-110_01.pdf