Yuji Mizoguchi Faces Backlash Over Sanae Token as FSA Steps In Showing Takachi Cabinet’s Resolve

Yuji Mizoguchi believed and went along with it

Yuji Mizoguchi (41), a serial entrepreneur known for the one-minute martial arts event “Breaking Down,” has come under intense backlash over the cryptocurrency “SANAE TOKEN,” which bears the name of Prime Minister Sanae Takaichi (65).

The issuance of the SANAE TOKEN began on February 25. It was featured on the YouTube program REAL VALUE, which also included appearances by Takafumi Horie (53) and Yuta Misaki (36), aka the “Aojiru Prince,” and quickly became a hot topic, causing the token’s price to skyrocket. However, on March 2, Prime Minister Takaichi herself posted on X:

〈I have no knowledge whatsoever〉

This warning triggered a sharp collapse in price. Suspicions arose that only insiders were cashing out, and the situation escalated to the point where even the Financial Services Agency got involved.

Issuing such a token requires registration as a cryptocurrency exchange operator, but as of the end of January, no registration had been confirmed for the company said to be involved in its operation.

In response, Mizoguchi posted on his X account:

〈Up until now, we have been coordinating through Neu Inc. with the Takaichi office and the Prime Minister’s officially recognized support group, ‘Team Sanae Changes Japan,’ and reporting our collaboration plans via both parties’ SNS accounts. However, following the Prime Minister’s own statements, we deeply recognize that there were points where communication and shared understanding were insufficient.〉

While expressing regret, he insisted that he had been in contact with Takaichi’s office. He also added:

〈I do not intend to deny any statements from the Prime Minister’s side.〉

What exactly does this mean?

A source familiar with Mizoguchi told this site:

“Mizoguchi seems to have jumped on the SANAE TOKEN opportunity when it was brought to him. The registered address of Veanas LLC, which operates the support group ‘Team Sanae Changes Japan’ selling official merchandise for the Prime Minister, is the same as Takaichi’s office in Nara. Mizoguchi believed that and went along with it, but it ended up being a case of the ladder being pulled out from under him. Crucially, he never spoke directly with Prime Minister Takaichi.”

When the controversy escalated, Professor Satoshi Fujii of Kyoto University Graduate School and the support group, who proposed the SANAE TOKEN to Mizoguchi, explained:

“We didn’t think it would operate like a cryptocurrency.”

Mizoguchi also insisted that the design and issuance of the token were fully entrusted to Neu Inc.

Don’t mess with the government

Takuji Okuno, leader of the Gobo no To party and an acquaintance of Mizoguchi, defended both individuals on his X account:

〈Professor Fujii and Yuji Mizoguchi have nothing to do with this. Everything will be revealed in broad daylight. Yuji Mizoguchi is not involved at all.〉

However, he likely cannot escape responsibility for playing a part in spreading the story.

The “Japan is Back” project, the organization behind the issuance of the SANAE TOKEN, announced that it would compensate owners and, on March 5, declared the suspension of both the token issuance and the project itself.

Although Prime Minister Takaichi’s name was used, the Financial Services Agency acted the day after she denied any involvement—a remarkably fast response. Some in political circles have even pointed to the Prime Minister’s intense anger.

Former Upper House lawmaker GaaSyy, who previously posted a series of exposé videos and was later arrested, warned Mizoguchi on X:

〈The one thing I can say is, don’t take on the government. I have felt that more than anyone.〉

A source familiar with Mizoguchi described his character:

“He’s all about generating buzz and impressions. Some people were approached to invest even though they hadn’t built much of a relationship with him. Looking closely, his business model was such that if one person cashed out, someone else would lose. You have to give him credit for being hardworking, but there are people who would ‘doubt’ him.”

On the other hand, it’s hard to say that Prime Minister Takaichi and her support group bear no responsibility.

This incident revealed a lack of communication between the Prime Minister and her support group. A national newspaper social affairs reporter noted:

“You could call it a ‘Takaichi business.’ To what extent the Prime Minister was aware of what her support group was doing is unclear. Saying ‘I don’t know’ probably won’t hold up.”

Political commentator Harumi Arima told this site:

“Once the Prime Minister’s name is used, the government has no choice but to investigate. What likely concerned the Cabinet the most was that the SANAE TOKEN website used an illustration of the Prime Minister that was so realistic it looked like a photograph. If the Financial Services Agency conducts a full investigation, they will want some sort of achievement or recognition. Doing something so high-profile may have been a failure for the token operators.”

A swift clarification of the facts is urgently needed.