Competition at the prestigious Narita Golf Club is usually confined to its manicured greens, where many of Japan’s business elite would entertain clients during the indulgent years of the country’s bubble economy.
Fast forward past Japan’s lost decade to 2008 and any aggression has shifted from the tee to the courthouse as the passion that some Japanese have for golf has spurred a group of disgruntled members to take on the mighty Goldman Sachs. If they succeed this would be the US investment bank’s third failed golf course investment in Japan, so the stakes are high for both sides when members’ votes on Goldman’s rehabilitation plan for the club are counted on March 19.
