Back in November 1981, when the first Japan Cup was run over 2400m. at Tokyo's Fuchu racecourse, there was no Breeders Cup in sight on the international turf, nor had the Dubai World Cup even been dreamt of. The only comparable richly-endowed event in world racing at the time was the Washington D.C. International contested at Laurel Park, Maryland, in the USA.

At this distance of time it seems hard to believe that the inaugural Japan Cup was designed to match Japanese-breds with runners from the USA, Australia, Canada, New Zealand and India. Yes, the Japanese did not forget their Asian brethren when including this country in this exclusive list, and India responded by sending their champion of the time, Own Opinion (by Simead). The chestnut six-year-old was well past his prime but still recorded the fastest 2400 m. of his career and beat a couple of Canadian horses home. That he finished some 18 lengths behind Mairzy Doates (by Nodouble) suggested Indian-breds had – as indeed they do today – some way to go to be competitive in worldwide Gr.1 company. (Note: the ineffectiveness of Indian horses at that level is due to a combination of retrograde protectionist measures and a bizarre racing programme – but that is a subject for another day).

Many thought that the next invitee, the "in-form" Track Lightning (by Grey Gaston) would give a better account of the country's prowess in 1982 but sadly he never made it out of India, reportedly due to failing a blood test required for international shipping. That episode ended India's quest for glory in the Japan Cup and 32 years later we are no closer to the $5 million prize!

Meanwhile, having been out-pointed in the race's first three renewals, the home team struck "paydirt" through Katsuragi Ace (by Boysie Boy) in 1984, and then more-or-less took turns with the internationals until 2005 when Alkaased (by Kingmambo) scored under Frankie Dettori for Great Britain. Thereafter it has been Japan's show all the way with eight consecutive locally-bred and trained winners.

With only three foreign-trained runners this year, one might well expect this skein to remain unbroken for another year at least. Foremost of the internationals is the 2013 Irish Derby winner, Godolphin's Trading Leather (by Teofilo). Bred and trained by Ireland's Jim Bolger, the four-year-old was seen most recently in public when third to The Grey Gatsby and Australia in the Irish Champion Stakes at Leopardstown in September. He has since been targeted specifically for this event but has had the misfortune of being drawn 18 (of 18 runners)! Kevin Manning flies in for the ride on the 16 to 1 hope.

Many Canadian-breds, accustomed as they are to earning large sums of prize money at home in races restricted to their ilk, prove unable to handle the stiffer company down South. A welcome exception is the 2013 Canadian Horse of the Year, Up With The Birds (by Stormy Atlantic) who has shown his mettle by triumphing in a Grade 1 in the USA. Sam-Son Farms' homebred, to be steered by Eurico Rosa da Silva, will be saddled by Malcolm Pierce and is drawn 7.

Germany's star colt Ivanhowe (by Soldier Hollow), drawn 2, will be attempting to add this trophy to his home nation's burgeoning tally of international plums. Like his Canadian counterpart, he is a homebred representing a leading breeding establishment – in his case, he is a product of the famed Gestut Schlenderhan, whose familiar colours he sports. Czech-born Filip Minarik has been selected to be at the controls on the 12 to 1 chance from Jean-Pierre Carvalho's yard.  

Overall, from 38 career starts between them, the 3 international challengers have finished "on board" in all 38. However, given the strength of the Japanese team, it will take an extraordinary effort for one of this trio to bring home the bacon. Look at what they are up against!

Victorious in this race in both 2012 and 2013, Gentildonna (by Deep Impact) is aiming to emulate Australia's Makybe Diva by claiming a third consecutive title in her nation's stellar event. Like last year, the globetrotting Ryan Moore has been booked to ride and Sei Ishizaka's charge is a 9 to 2 chance from draw no. 3. Should she maintain her terrific record at left-handed tracks (7-4-3-0), the versatile racemare is sure to be in the first two.

The world's highest-rated horse, Just a Way (by Heart's Cry) faltered over a longer trip last time out, but perhaps his Arc failure was due to the fact that he had been away from action for an extended period. Thus he cannot be ignored, more so given that he has beaten Gentildonna by four lengths – albeit a year ago, in the 2013 renewal of the Tenno Sho (Autumn). Usual rider Yuichi Fukunaga has been declared on the five-year-old who starts against the rails.

Harp Star (by Deep Impact) is many people's idea of the winner. Recipient of a horrendous ride in the Arc, the three-year-old filly still managed to check in sixth, defeating the other Japanese runners, in that prestigious race. The same rider, Yuga Kawada, is aboard and ought to put up a better effort, given that he and his mount are now on familiar territory. That said, it's been a long season for the Hiroyoshi Matsuda-trainee, who will break from the sixth gate.

A recent win over Gentildonna in the Tenno Sho (Autumn) means that the strong-finishing Spielberg (by Deep Impact) has legitimate claims here. In fact, he loves the track with its sweeping expanse and has recorded all his half a dozen career victories on it. Drawn 15, he is likely to be wide throughout but equally likely to enjoy an unimpeded path up the outside in the straight even while his rivals on his inside might be suffering interference.

Had the race been over a longer trip, Fenomeno (by Stay Gold), twice hero of the 3200 m. Tenno Sho (Spring), would have probably have been the favourite. Over shorter trips he has not been quite as superior. Incidentally he has tackled this race before, placing fifth behind Gentildonna in 2012, beaten about 5 lengths. No convincing case can be made for his chances here and his connections would probably be pleased should he occupy one of the minor placings.

Four-year-olds have taken half the previous ten renewals and one of that generation is the 2013 Kikuka Sho winner, Epiphaneia (by Symboli Kris S.). The esteem in which he is held may be judged by the booking of Christophe Soumillon on the exuberant colt, who is fresher than most of his rivals.

A couple of other three-year-olds warrant a mention: these include Satsuki Sho winner Isla Bonita (by Fuji Kiseki) who has the enviable record of 9-6-2-1. This dark-hued colt was favoured to annex the Tenno Sho (Autumn) earlier this month and in fact shaped as the winner close home only to be narrowly run out of by the afore-mentioned Spielberg and Gentildonna. On that occasion he had been drawn 15; now he finds himself set to start from draw no. 9 and a potentially ground-saving ride from Masayoshi Ebina could tilt the balance in his favour.

The other 2011-born runner of note is One and Only (by Heart's Cry), this year's Japanese Derby winner over the same course and distance. However, he has not run to the same level of form  since and comes in to the race after a tepid ninth-placed effort in the Kikuka Sho. Possibly the extended trip on that occasion was more than he could handle and he deserves another chance with Norihiro Yokoyama poised to continue his association.

Trying to weigh the different form lines is a tricky business. Using the highest level of ability displayed as a criterion, the race should lie between Just A Way, Harp Star and Gentildonna. And if you like the last-named, you cannot ignore Spielberg and Isla Bonita! Trading Leather ranks as the best of the international challengers.