TOKYO (TR) – Tokyo Metropolitan Police have arrested a former manager at Citizen Watch Co. on suspicion of embezzling company wristwatches to fund a lavish lifestyle, reports the Sankei Shimbun (May 27).
Kinya Homma, a 57-year-old resident of Atami City, Shizuoka Prefecture, is specifically accused of taking eight wristwatches valued at approximately 2.2 million yen from a subsidiary’s warehouse between December 2019 and February 2020. He allegedly sold the stolen items to a secondhand buyer in Shinjuku Ward.
Upon his arrest by police on Tuesday, Homma admitted to the allegations. “I wanted money, so I did it,” he told investigators.
Manipulated the company’s internal management system
At the time of the offenses, Homma served as a section chief in the corporate sales department. Capitalizing on his position, which allowed him to check out inventory for promotional purposes, he manipulated the company’s internal management system to illicitly acquire the timepieces.
However, investigators believe the eight watches are just the tip of the iceberg. Police suspect that between December 2019 and April 2024, Homma fenced approximately 420 watches with a total retail value of 96 million yen. The illicit sales allegedly netted him over 30 million yen in cash.
Police believe Honma used the money for things like golf expenses and accommodations with his girlfriend.
The years-long scheme finally began to unravel earlier this year when Citizen announced a strict new policy for physical inventory checks. Knowing the missing stock would be discovered, Homma vanished.
The company fired him for disciplinary reasons in October and consulted the police, who are now working to uncover the full extent of his embezzlement.
Honma was later found working a live-in part-time job at a ryokan inn in Atami City, Shizuoka Prefecture.
Citizen Watch commented, “We deeply regret this incident and apologize to all those involved. We have already strengthened our internal control system and will strive to prevent a recurrence and restore trust.”
