MEMPHIS, Tenn. -- Hideki Matsuyama could feel the tournament getting away from him, an odd sensation considering he had gone 27 holes without a bogey and had a five-shot lead just an hour earlier.

Even more improbable was how it ended Sunday.

On the verge of a collapse, Matsuyama rolled in a 25-foot birdie putt on the 17th hole to regain the lead and then hit two shots as precise as any he hit all day for one last birdie to win a wild PGA Tour postseason opener at the FedEx St. Jude Championship.

Birdies on the final two holes -- among the toughest on the TPC Southwind -- gave the Japanese star an even-par 70 and a two-shot victory over Xander Schauffele and Viktor Hovland, who thought they were playing for cash and FedEx Cup points until Matsuyama's mini-meltdown.

A three-putt bogey on the 12th. A tee shot into the water on the par-3 14th, where Matsuyama did well to escape with bogey. Two chips to reach the 15th green and a double bogey. When he saw a leaderboard on the 16th hole, it confirmed what Matsuyama feared.

"I felt today's victory slipping away at that point because 17 and 18 are difficult holes enough, let alone to birdie them," Matsuyama said through his interpreter.

He birdied them both for his 10th career PGA Tour victory and first FedEx Cup playoff title.

The stakes suddenly were high for everyone in the final hour of what had been a sleepy, steamy tournament. It was tight at the top, and just as tense on the bubble to determine the top 50 players in the FedEx Cup who advanced to next week.

How tense?

Consider Nick Dunlap, who went from a chance to win the tournament to needing his best drive of the week just to stay in the top 50 and extend his season. He was as clutch as Matsuyama off the 18th tee, closing with a par for a 69 to tie for fifth and move on.

"It was weird," Dunlap said. "I went from on 17, I tried to attack the pin. I thought I still had a chance to win the golf tournament. Then not getting up and down, and then I'm questioning if I'm inside the bubble or not. It was very stressful."

Tom Kim looked certain to finish in the top 50 until a 6-6-6 finish on his card ended his season.

Schauffele started nine shots behind and waited to see if he would get in a playoff. Hovland had a one-shot lead with two holes to play. Scottie Scheffler, who shot 66 and finished fourth, was still in the game on the 17th hole.

Ultimately, it came down to Matsuyama.

The collapse was stunning. So was the response.

"He just never seemed to let it get to him. It was really impressive," said Dunlap, who played in the final group with Matsuyama. "That's why he's got a green jacket and a ton of other things. It was definitely cool for me to watch. He deserves it. He was impressive all day."

Hovland, the defending FedEx Cup champion, came into the postseason at No. 57 without a guarantee he would be able to defend his title in the BMW Championship next week. And then he had a chance to win, taking the lead with his birdie on the 16th. He gave it back by failing to save par from a bunker on the 17th and then missed a 9-foot birdie putt on the 18th for a 66.

He wound up a runner-up with Schauffele, who played bogey-free for a 63. Hovland moved to No. 16, not only getting into next week but locking up a spot in the Tour Championship.

But it wasn't over just yet. The final group on the final hole -- the hardest of the day -- came down to this: Matsuyama needed par to win, Dunlap needed par to move from No. 67 into the top 50. A bogey would have bumped the former U.S. Amateur champion out of the top 50.

Both split the middle of the fairway. Dunlap hit his approach to just outside 20 feet, while Matsuyama hit 8-iron at the flag, with water to the left. It settled just under 6 feet away.

Matsuyama, who finished at 17-under 263, won for the second time this year. He shot 62 in the final round to win the Genesis Invitational at Riviera. Coming off a bronze medal at the Olympics, his performance -- except for that awful four-hole stretch -- was golden.

He won $3.6 million and moved from No. 8 to No. 3 in the FedEx Cup.

It was quite a week for the Japanese star, who had to find a fill-in caddie and could work with his coach only over the phone. All of them were out to dinner in London on their way home from the Paris Olympics when someone stole their bag when they weren't looking.

The thief got Matsuyama's wallet and the passports of his caddie and coach. They had to return to Japan and work on getting expedited replacements. Matsuyama pressed on like it was another work week and came up with his first postseason victory.

Hovland, Dunlap and Eric Cole (No. 54) moved into the top 50. Cole did it in style with a 63, despite a bogey on the closing hole. Falling out of the top 50 were Kim (No. 43), Mackenzie Hughes (No. 48) and Jake Knapp (No. 50).

Kim was poised to advance until it took him two shots to get out of a greenside bunker on the par-5 16th (bogey), two chips to get to the green on the 17th (double bogey) and a tee shot into the water on the 18th (double bogey).

"This season has just been ... it's just been like this," Kim said. "I've played really good golf, and then had some tough finishes. I feel like 2024 has really kicked me in the butt."