JRHA select sale features close relative of Deep Impact

Although economists think the worst of Japan's economic crisis might be over,

breeders still face the daunting task of selling yearlings and foals on the

heels of the nation's worst recession since World War II when the Japan Racing

Horse Association's select sale begins Monday at the Northern Horse Park.

The challenge is made more complex due to the resurgent strength of the

Japanese yen, an offshoot of global economic dynamics. Thus, foreign buyers

recruited to the island of Hokkaido in recent years, such as Australia's Nathan

Tinkler, generally will find their money worth less.

"I believe it is going to be tough," JRHA Vice Chairman Teruya Yoshida, who

is annually a leading consignor under his Shadai Farm banner, predicted

candidly.

A total of 161 yearlings and 336 foals have been cataloged for Japan's

premier sale, with yearlings selling on Monday and foals -- which traditionally

have been preferred in the unique market -- during Tuesday and Wednesday sessions.

The numbers are virtually identical to what was offered in 2008.

This year's catalog features many impressive pedigrees, including Hip No. 275, a

bay colt foaled January 27 who is a three-quarter brother to two-time Japanese

Horse of the Year and Triple Crown winner Deep Impact (Sunday Silence). Consigned by

Katsumi Yoshida's Northern Farm, the colt is from the highly anticipated first

crop of Daiwa Major, a son of Sunday Silence who was champion sprinter and

miler in 2006 and '07 after winning the Satsuki Sho (Japanese Two Thousand Guineas) in

2004.

The first foals by 2007 Japanese Horse of the Year Admire Moon, who won the Dubai Duty Free

(UAE-G1) and Japan Cup (Jpn-G1), include a potential

headline-maker in Hip 391. The dark bay colt, also consigned by Northern Farm,

was produced February 10 by Grade 3 winner Veil of Avalon (Thunder Gulch), a half-sister to Deep Impact.

Prophetically named, Deep Impact kept last year's JRHA sale from plunging

further than the 16.3 percent drop it experienced compared to the 2007 sale.

With 31 foals from his first crop sold in 2008, Deep Impact generated

¥1,880,000,000 -- a whopping 19.5 percent of the overall gross even though he did

not have any offspring in the yearling session. This year, Deep Impact is

represented by seven yearlings and 31 foals.

Other sires whose progeny will draw attention are Agnes Tachyon, last year's leading sire who recently died at age 11 and who has 16

yearlings and 29 foals in the catalog, and Neo Universe,

who from his first crop has sired the winners of the Satsuki Sho in Unrivaled and Tokyo Yushun (Japanese Derby) in Logi Universe. Nine

yearlings and 11 foals cataloged are by Neo Universe, who swept

two-thirds of Japan's Triple Crown in 2003.

There also are horses in the sale with purely American pedigrees, including

colt foals by Ghostzapper out of Grade 1 winners Island Fashion (Petionville)

and Vivid Angel (Septieme Ciel). There also are foals cataloged by A.P. Indy,

Gone West, Grand Slam, Indian Charlie, Mineshaft, Officer, Smart Strike and

Unbridled's Song, as well as yearlings by Medaglia d'Oro and Tiznow.

Runnymede Farm near Paris, Kentucky, will again be the only American-based farm

that has consigned horses to the sale. Runnymede, which boards several mares at Shadai Farm, will offer filly foals by Agnes Tachyon and Deep Impact, but has

withdrawn a colt foal by Agnes Tachyon.

Yoshida declared to participants gathered for a party at the Northern Horse

Park on Sunday night that he expects the market will be "very buyer

friendly...unfortunately," he said with his trademark wry humor.

As one of the top two consignors annually to the sale under his Shadai Farm

banner, Yoshida has a strong reason to prefer a sellers' market. Yet he

predicted that while world economic problems will cast a shadow on the sale just

as at nearly every other venue around the globe, he expects less of an impact

than there has been elsewhere.

"I hope the sale will go OK -- I think Japanese owners are still very

healthy," Yoshida said. "People should be able to find a good horse for

reasonable money."

Purses have remained steady in Japan despite the crunch of the recession, and

total wagering has only dropped about 5 percent, this year, less than declines

in other countries, including the United States. So, while Japan as a whole has

been battered by the recession, racing is holding up fairly well. Juvenile sales

this spring were robust, with several recording increases in gross compared with

2008 results, but stallion owners have suffered, with overall books declining by

about 20 percent in numbers of mares and associated fees.

Some smaller consignors naturally are concerned about how the sale will

unfold.

"It might not be pretty," predicted Harry Sweeney of Paca Paca Farm,

which has four yearlings and 12 foals in the catalog, while acknowledging that

conditions are "way tougher" in Europe and other areas.

Although the JRHA has encouraged foreign buyers to attend the sale, not many

are anticipated, partly due to the recent strength of the yen that has made

other currency worth less in comparison. Darley bloodstock manager John Ferguson

and a few buyers from Hong Kong were among those expected, while Australia's

Tinkler of Patinack Farm and Hong Kong Jockey Club executive Mark Player,

who buys horses internationally for the club, were not going to be present after

attending last year's sale.

Ferguson, who arrived at the JRHA party after flying into Japan from England

just a few hours earlier, indicated he had not seen enough horses to hazard a

prediction about the unique market. Darley, one of last year's top JRHA

consignors by gross, is not selling this year in order to retain its young stock

for racing, but could repeat its 2008 role as a significant buyer by gross.