#Japan #Fintech #Tokyo #Ocean Tax Refund #AFA Awards

Ocean's Rise in the Fintech Arena

In a remarkable achievement, Ocean, a company based in Chuo, Tokyo, has secured its position among the Top 30 Finalists in the Fastest Growth Award category of the AFA Awards 2026, an accolade presented by the Asia FinTech Alliance (AFA). This recognition comes in light of Ocean’s groundbreaking efforts to enhance the shopping experience for international visitors to Japan through its innovative tax refund platform, Ocean Tax Refund.

Recognition in the Fintech Sector

The Fastest Growth Award category highlights companies that have shown significant expansion within the fintech sector. Ocean's selection is primarily based on its impressive track record. Within just six months since the launch of its services at the end of 2025, Ocean garnered partnerships with over 200 retail establishments. This rapid integration is attributed to its user-friendly system, allowing visitors from various countries to effortlessly navigate the tax refund process through popular platforms like LINE Mini App and WeChat Mini Program.

The AFA Awards, which premiered in 2026, aim to recognize exceptional fintech companies across Asia. The selection process involves meticulous scrutiny, including documentation reviews and technological assessments, leading to the final selection by independent judges who then determine the top winners in five distinct award categories.

Looking Ahead with Major Regulatory Changes

As of November 2026, Japan will shift its tax exemption system from the current method, where taxes are displayed at the point of sale, to a refund method, necessitating that retailers adapt their operations appropriately. This significant change requires all exempt shops nationwide to redesign their cash register operations and refund procedures.

Ocean perceives this transition as an opportunity for Japanese retailers to reconnect with global clientele effectively. Their commitment to launching a platform that adheres to the new regulations is evident through their swift onboarding of over 200 retail partners. Their collaboration with POS vendors and local financial institutions facilitates a seamless adjustment for retailers, minimizing operational alterations while ensuring compliance with the updated regulations.

Ocean has also dedicated substantial effort to enhance the experience for foreign visitors regarding tax refund procedures. By allowing users to apply for refunds through widely used platforms, such as LINE Mini App and WeChat Mini Program, Ocean has created an environment where tax refund applications can be completed without needing to download additional applications or overcoming language barriers.

Ocean Tax Refund: The Next-Gen Platform

Introducing the Ocean Tax Refund platform, which aligns with the ongoing changes to the tax exemption system, Ocean's solution offers various key benefits that make it attractive for retailers and visitors alike:

1. No Initial Cost: Ocean’s platform comes with zero initiation fees or fixed monthly costs, allowing stores to transition effortlessly into the new tax refund system without financial strain.

2. Quick and Easy Refund Process: With high-precision AI OCR technology in place, tax refund requests can be submitted in under ten seconds by simply capturing photographs of passports and landing permits. In environments compatible with POS integration, data can also be automatically sourced from the cash registers.

3. User-Friendly Access: The platform enables visitors to file refund applications through various already-popular channels, like LINE and WeChat, eliminating the need for application downloads and catering to a broad customer base irrespective of nationality.

Discover more about Ocean Tax Refund and its services at Ocean's Service Site.

About Ocean

Founded by Ryo Hoshino, Ocean Inc. is devoted to providing a user-friendly and efficient tax refund shopping platform tailored for international visitors to Japan. Based in Chuo, Tokyo, with a commitment to integrating technologies that facilitate seamless transactions, Ocean has joined various associations in the fintech sector.

Corporate Information:

• - Headquarters: 5th Floor, Fujiya Building, 2-6-5 Ginza, Chuo, Tokyo 104-0061, Japan
• - Established: May 2024
• - Services: Development and provision of tax refund shopping platforms for international visitors.
• - Affiliations: Japan Fintech Association, Japan Omnichannel Association, Osaka Tourism Board
• - Certifications: Tax refund approval transmission provider, ISMS certification (ISO/IEC 27001), Privacy Mark certification.

For inquiries about this announcement, please reach out to Ocean's public relations team at [email protected].