Big heads of Buddhist temple fired after Big loss from the financial products

shingon buddhism sect monk fired
Explaining the big loss at Temple board meeting. Source: Mainichi News

Kaeru team love visiting temples and shrines. We pay some money when we pray or some donate significant amount.


We usually do not realize how big money these religious groups are managing behind.


Today's news reports the big heads of the Koyasan Shingon group of Shingon Buddhism were fired because of the mismanagement of funds. The loss amounts to as much as 680 million JPY. The money mainly came from the donation of the believers.


Koyasan Shingon sect located in Mt. Koya in Wakayama Prefecture, the oldest and largest of 18 Shingon sects in Japan. Its main temple is Kongobu-ji. This sect started the fund management from 2003 managing around 3billion JPY which profit used for its own university, Koyasan univ. in Wakayama, known for losing money and running cost of the religious activities.


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