How do you say 'very good' in Japanese?

Answer 1

You can say totemo-iidesu. (とてもいいです。) to say It is very good.

とても いいです。

totemo iidesu

Very Good

For example :

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Your Japanese friend has bought a new pen for you as a present.

And asks you whether you like it or not.

You can say totemo-iidesu, Arigatou Gozaimasu to say It is very good, Thank you.

PS:

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ありがとう ございます。

Arigatou Gozaimasu

Thank You.

'Very good' would be expressed as とてもいい (totemo ii) in Japanese. This is probably the most basic and commonly used way to say 'very good'. Another option may be すごくいい (sugoku ii).
It depends on context, what you are describing, etc.

For example, to say food that you have just eaten is very good, say the following: Oishikatta!

To thank someone for food that they have either prepared or purchased for you, say the following, but only after you have finished eating it: Gochisosama!

To compliment an inferior--someone significantly your junior and part of your organization--for a job well done say the following: Yoku dekimashita!

There are even more variations yet uncounted. As you may be able to see, how you express "very good" in Japanese depends very strongly on context.
Totemo Yoi.