TOKYO--Two firms, one Japanese and the other American, have formed a joint venture company in New York to bring Japanese, Tahitian and Australian pearls to the U.S. market with a first-year volume projection of $20 million.
The 50-50 joint venture firm, Leer Tokyo Pearl Co., capitalized at $300,000, has been formed by Tokyo Pearl Co., a major wholesaler of pearls based in Tokyo, and M. Fabrikant & Sons, a fine jewelry wholesaler in New York. The new company is capitalized at $300,000.
According to a spokesman for Tokyo Pearl, Akoya pearls from Japan and black and South Sea pearls to be brought from Tahiti and Australia will be exported to the U.S. and distributed by Fabrikant to retailers and mail order houses. The firm has more than 6,000 accounts.
A major factor prompting the Tokyo firm to move into the U.S. pearl market is a Japanese government deregulation effected last November. Previously, a provision in Japan's export-import transaction law required an overseas buyer of Japanese pearls to make advance payment. But this advance-payment requirement was abolished last November, enabling Japanese sellers and buyers of pearls overseas to operate freely.
--Fairchild News Service

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