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Tag: Tadashi Yanai

  • Brown grass cost a famed golf course a big tournament and highlighted Hawaii water problems

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    HONOLULU (AP) — High up on the slopes of the west Maui mountains, the Plantation Course at Kapalua Resort provides golfers with expansive ocean views. The course is so renowned that The Sentry, a $20 million signature event for the PGA Tour, had been held there nearly every year for more than a quarter-century.

    “You have to see it to believe it,” said Ann Miller, a former longtime Honolulu newspaper golf writer. “You’re looking at other islands, you’re looking at whales. … Every view is beautiful.”

    Its world-class status also depends on keeping the course green.

    But with water woes in west Maui — facing drought and still reeling from a deadly 2023 wildfire that ravaged the historic town of Lahaina — keeping the course green enough for The Sentry became difficult.

    Ultimately, as the Plantation’s fairways and greens grew brown, the PGA Tour canceled the season opener, a blow that cost what officials estimate to be $50 million economic impact on the area.

    A two-month closure and some rain helped get the course in suitable condition to reopen 17 holes earlier this month to everyday golfers who pay upwards of $469 to play a round. The 18th hole is set to reopen Monday, but the debate is far from over about the source of the water used to keep the course green and what its future looks like amid climate change.

    Questions about Hawaii’s golf future

    There’s concern that other high-profile tournaments will also bow out, taking with them economic benefits, such as money for charities, Miller said.

    “It could literally change the face of it,” she said, “and it could change the popularity, obviously, too.”

    The company that owns the courses, along with Kapalua homeowners and Hua Momona Farms, filed a lawsuit in August alleging Maui Land & Pineapple, which operates the century-old system of ditches that provides irrigation water to Kapalua and its residents, has not kept up repairs, affecting the amount of water getting down from the mountain.

    MLP has countersued and the two sides have exchanged accusations since then.

    As the water-delivery dispute plays out in court, Earthjustice, a nonprofit environmental legal group, is calling attention to a separate issue involving the use of drinking water for golf course irrigation, particularly irksome to residents contending with water restrictions amid drought, including Native Hawaiians who consider water a sacred resource.

    “Potable ground drinking water needs to be used for potable use,” Lauren Palakiko, a west Maui taro farmer, told the Hawaii Commission on Water Resource Management at a recent meeting. “I can’t stress enough that it should never be pumped, injuring our aquifer for the sake of golf grass or vacant mansion swimming pools.”

    ‘This is water that we can drink’

    Kapalua’s Plantation and Bay courses, owned by TY Management Corp., have historically been irrigated with surface water delivered under an agreement with Maui Land & Pineapple, but since at least the summer have been using millions of gallons of potable groundwater, according to Earthjustice attorneys who point to correspondence from commission Chairperson Dawn Chang to MLP and Hawaii Water Service they say confirms it.

    Chang said her letter didn’t authorize anything, but merely acknowledged an “oral representation” that using groundwater is an an “existing use” at times when there’s not enough surface water. She is asking for supporting documentation from MLP and Hawaii Water Service to confirm that interpretation.

    In emails to The Associated Press, MLP said it did not believe groundwater could be used for golf course irrigation and Hawaii Water Service said it didn’t communicate to the commission that using groundwater to irrigate the courses was an existing use.

    MLP’s two wells that service the course provide potable water.

    “This is water that we can drink. It’s an even more precious resource within the sacred resource of wai,” Dru Hara, an Earthjustice attorney said, using the Hawaiian word for water.

    Recycled water solutions

    TY, owned by Japanese billionaire and apparel brand Uniqlo’s founder Tadashi Yanai, doesn’t have control over what kind of water is in the reservoir they draw upon for irrigation, TY General Manager Kenji Yui said in a statement. They’re also researching ways to bring recycled water to Kapalua for irrigation.

    Kamanamaikalani Beamer, a former commissioner, said he’s troubled by Earthjustice’s allegations that proper procedures weren’t followed.

    The wrangling over water for golf shows that courses in Hawaii need to change their relationship with water, Beamer said: “I think there needs to be a time very soon that all golf courses are utilizing at a minimum recycled water.”

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  • Australia, India, Southeast Asia Stores Help Boost Uniqlo Operator’s Profits

    Australia, India, Southeast Asia Stores Help Boost Uniqlo Operator’s Profits

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    Japanese billionaire Tadashi Yanai’s Fast Retailing, the operator of clothing chain Uniqlo, said Thursday its ​​operating profit rose 19.4% to 297.3 billion yen ($2 billion) in the year ended in August, boosted by strong sales at its stores in India, Southeast Asia and Australia.

    Asia’s biggest apparel retailer said its operating income in South Asia, Southeast Asia and Oceania more than tripled in the same period. According to Fast Retailing’s 2021 annual report, the company has 270 stores across Australia (25 stores), India (6), Indonesia (40), Malaysia (48), the Philippines (63), Singapore (26), Thailand (54) and Vietnam (8), accounting for almost a fifth of the company’s international stores.

    Operating profit in Greater China, which includes Hong Kong and Taiwan, declined almost 17% to 83.4 billion yen in the year ended in August. “Greater China region reported a significant contraction in profit due to COVID-related restrictions on movement,” the company explained in its earnings report. The Greater China region, where it has 932 stores, accounts for over 60% of Fast Retailing’s international stores.

    In this year’s Japan’s Richest list, published in late May, Yanai, who was the second richest last year, reclaimed the title of the country’s richest person, though his fortune slid by 44% to $23.6 billion. A slowdown in sales in the domestic market, as well as in China, impacted shares of his Fast Retailing. The company’s shares are flat this year, compared to a 7.9% drop for Japan’s Nikkei 225 index.

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    Jayde Cheung, Forbes Staff

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