Junichi Yoshida is general manager of Clearview Golf Club & Hotel, near Tokyo, which is owned by Pacific Golf, an affiliate of Dallas-based Lone Star. He is responsible for thinking up ideas to improve revenue at the club, whether through reducing costs or increasing the number of players. The size of his annual bonus is directly linked to the results of these ideas.

Foreign private equity funds and investment banks such as Lone Star and Goldman Sachs went on a shopping spree in Japan, buying up distressed assets, including golf courses and hotels, from the early 2000s as land prices hit rock bottom. By cutting costs and investing in improvements, many courses are more profitable.