Horse racing in Japan the post Second World War economic boom. The Japan Racing Association was formally established in 1954. The Japan Cup, one of the richest horse races in the world, was inaugurated in 1981. Run at Tokyo's Fuchu Racecourse on the last Sunday in November, it continues to attract thoroughbreds from all over the world. The JRA manages the ten main tracks in Japan. Races at these tracks are called "Chuo Keiba" (meaning "central horse racing"). It provides some of the richest racing in the world. , a typical JRA maiden race for three-year-olds carried a purse of ¥9.55 million (about US$112,000),
Melbourne Racing Club the Caulfield Cup meeting in 1953. In 1963 the Melbourne Racing Club, which had been created from an amalgamation of the Williamstown Racing Club and the Victorian Racing and Trotting Association, was incorporated into the VATC. Following the merger, the newest of Melbourne's race tracks, Sandown Racecourse, was opened on 19 June 1965 in front of a crowd of over 52,000. The first Blue Diamond Stakes, a race for 2 year olds, was run at Caulfield in 1971 and won by Tolerance. The glass-fronted Rupert Clarke Grandstand, which replaced the main Caulfield grandstand of the 1920s, was opened in 1992.