Pebble Beach Golf sold to Japan Investors, 1992

Masatsugu Takabayashi and Pebble Beach director of golf Ed Miller inspect the grass on the 17th hole at the Pebble Beach Golf Links on March 9, 1992.  Takabayashi's company, Taiheiyo Club Inc., owner and operator of many golf courses in Japan, joined with Sumitomo Credit Service Ltd., the leading issuer of VISA cards in Japan, to acquire the Pebble Beach golf resort for a reported $500 million.

"This was a rare opportunity to become the owner of one of the world's best resorts," Mr. Takabayashi said through an interpreter.

Taiheiyo Club, of which Mr. Takabayashi is president, will be 75 percent owner, while Sumitomo Credit will hold 25 percent of the Lone Cypress Company, a new Japanese corporation formed to acquire Pebble Beach. Mr. Takabayashi, who is 58 years old, will be chairman and president of Lone Cypress.  (Orville Myers - Monterey Herald archives)