Taiyo California Closing Its Office

Taiyo California Corp., a real estate subsidiary of Tokyo-based Taiyo Co. Ltd., will close its three-person office in Newport Beach at the end of the month.

Taiyo California was formed in 1989 to purchase golf courses. Because funding is not available for new projects, however, the parent company will complete golf course construction in Japan before it proceeds with overseas projects, said Jeanette Norton, acquisitions coordinator.

Yutaka Hirano, president of Taiyo California, will continue to operate the company from his home in Newport Beach, Norton said. She and a clerk will be laid off.

Taiyo California is not affiliated with Taiyo Development USA Inc., which creditors are trying to force into bankruptcy proceedings.