Golf course magnate and blogging shareholder activist forced resignation of Japan Airlines' president 3 years ago.

FORBES: Magazine Article

Fifteen fortunes declined with the biggest fall coming for Eitaro Itoyama, whose golf course assets were revalued by FORBES as the sport continues to decline in Japan.

FORBES: Japan's 50 Richest

Mr. Zhang said he is aware of how Japanese firms lost large sums on high-profile foreign investments such as Rockefeller Center and Pebble Beach Golf Course in the late 1980s and notes that the failures had to do the volatility of the yen and Japan's monetary policy.

WSJ: China Developers Look Abroad��for Chinese Buyers