Yes, that's correct. It was bought in September 1990 by Minoru Isutani, backed by a corporation called Cosmo World. The deal included the land which included four courses, Pebble Beach Links, Spyglass Hill, Spanish Bay and Del Monte. The deal also included two resort hotels, the Lodge at Pebble Beach and The Inn at Spanish Bay.
It was then sold again in 1992 to more Japanese owners, but on 1999 it came back to American ownership again.