California's Pebble Beach Co. has been purchased by Japanese-owned Ben Hogan Properties. Price was not disclosed. The parent company is Cosmo World Corp.

Pebble Beach Co., heretofore owned by a real estate partnership, owns and operates the Pebble Beach Golf Links, The Lodge at Pebble Beach, the Inn and Links at Spanish Bay, Spyglass Hill and Del Monte golf courses, 17-Mile Drive and substantial real estate parcels on the Monterey Peninsula.

"We are committed to operating Pebble Beach at the same high standards that everyone has come to expect," David B. Hueber, president of Ben Hogan Properties, said in a statement.

Officials said they won't change "management personnel or management style" . . .

Nick Faldo decided to play this week's European Open in Sunningdale, England, but might quit in mid-tournament if a nagging wrist injury flares up.

Faldo, the U.S. Masters and British Open champion, said any recurrence of the injury that has sidelined him since the PGA last month in Birmingham, Ala., would take him out of competition another month.

"What is one month when it is compared with my career for the next 10 years," he said after a surprise appearance in a preliminary pro-am.