After Fusaichi Pegasus won the Kentucky Derby, owner Fusao Sekiguchi pledged that the horse he bought and trained far from his homeland wouldn't be traveling there anytime soon.

"Fusaichi Pegasus is a treasure of the United States and I hope to keep him in the United States," Sekiguchi said after the Derby.

Still, Japanese racing fans took pride in the triumph of the horse that is identified with their country. The victory was the most important for a Japanese-owned horse since El Condor Pasa took second place last year in France's Prix de l'Arc de Triomphe.

While the colt races in the United States, his first name is strictly Japanese: Fusao, the owner's name, plus "ichi," which means No. 1 in Japanese.

Japanese racing officials were impressed with Sekiguchi's success.

"To succeed on your first try, now that's tough," said Teruyuki Imahara, executive director of the Japan Racing Association, the nation's largest horse racing organization. "It was a perfect win."

The victory did not come cheaply. Sekiguchi paid a record $4 million for Fusaichi Pegasus at the yearling sale, and the colt has sometimes befuddled handlers with antics during training.

The bottom line, though, is he is the first Derby favorite to win the race since Spectacular Bid in 1979. And his victory left some in Japan not sure how to react.

"Sure, I'm happy," said Tsuyoshi Yamada, a 36-year-old racing fan, as he left a Tokyo betting shop. "But I'd be a whole lot happier if it had been a horse that had raced and proven itself in Japan."