Combine all ingredients except wasabi paste in large saucepan.

Bring to boil.

Reduce heat, cover and simmer 1 hour.

Strain into medium saucepan.

Boil until reduced to 1/2 cup, about 15 minutes.

Stir in wasabi paste. Season with salt and pepper. (Can be made 1 day ahead. Cover and chill.) Serve with steaks.