While the old yacht used only the drag of the wind, the recent yacht uses the lift force generated by both the sail (wing in the air) and the keel-and-bulb (wing in the water).When the ship heels, the keel-and-bulb make the restoration moment and stabilize the ship. In this study, we investigate the properties of the keel-and-bulb which is used in the actual ship. Using the wind tunnel, the flow around the keel-and-bulb is visualized by smoke. The velocity field and the drag are analyzed by hot-wire velocimetry.