In the 1970’s, the late Mr. Yohachiro Iwasaki established a large holiday resort just north of Yeppoon on the Capricorn Coast in Central Queensland. The Capricorn Resort included several accommodation buildings, bars and restaurants, a Japanese garden, one of the largest swimming pools in the Southern hemisphere, 2 golf courses, extensive wetlands, a chapel and function rooms.
From its inception, and up to the present time, it has been entirely funded by the private family company, Iwasaki Sangyo. In the early years of its operations, substantial financial support from the family companies was needed in addition to the capital required to build the resort.
In later years, the family went on to have a management agreement with the Rydges Hotel Group, and then with the Accor Group, as a Mercure-branded resort. These companies managed the operation for some years, but the ownership of the resort never changed.
With the closure of the accommodation at the resort in recent years, the Iwasaki Sangyo Company has now assumed the management, and continue to look at options for the re-development of the resort. Currently the very popular Tsuruya Japanese restaurant continues to operate and thrive, as do the world standard golf courses.
The Iwasaki family hold Queensland, and particularly the Central Queensland region very close to their hearts, and with the resort itself no longer open, they continue to have a vested interest in helping the community through the charitable interests of the Iwasaki Foundation.