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With the yen so strong against the dollar, Japanese investors have been snapping up prime pieces of U.S. real estate from Honolulu to Manhattan. None of these acquisitors is quite like 36-year-old Ikuo Hiyakuta. He gobbles up entire city blocks like so much cardboard. Then he builds row upon row of houses and hotels until his rivals are driven into bankruptcy...

Author: /time Magazine | Title: REAL ESTATE: The Baron Of Boardwalk | 10/31/1988 | See Source »

Fortunately, Hiyakuta's ruthlessness is all in good fun. Last week in London he became the first Japanese to win the world's Monopoly championship, defeating 29 players from 28 countries. His final challenger: 13-year-old Ken Shabtay, an Israeli. Hiyakuta was breathless after collecting his last dollar in the 2 1/4-hour final. "Most pleased!" he declared. "I really wanted to win. I was determined." His title is no mean feat: the game has now been translated into 19 languages, and 100 million copies have been sold. Hiyakuta, a trading-company employee from Chiba City, took home a cash...

Author: /time Magazine | Title: REAL ESTATE: The Baron Of Boardwalk | 10/31/1988 | See Source »

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