Alice L Moran. Built in Japan for Moran, who are, of course, American. So the flags are, I think, quite simple to explain. Stars and Stripes at the rear flagstaff, courtesy flag of Japan at the foremast as that's where she's heading, and the remaining flag indicates she has a pilot on board. I've seen this image described as a trials photo and that would make perfect sense of all three flags - and her immaculate condition and the high speed she's sailing at.