According to GFMS, Japan's
gold jewellery production rose marginally in 2001, to just above 37 tonnes (1.18
million oz). This amounted to just over one third of the volumes registered at
the beginning of the decade. Japan's economic vicissitudes and the popularity
of platinum are both to blame for the decline.
The jewellery industry
is highly fragmented, consisting mostly of medium-to-small family-run businesses
and just a handful of clear market leaders, including some large chain
makers. Eighteen carat,
high quality jewellery is very much the norm. Production is largely for the
home market and exports have remained relatively small. Japanese manufacturers
are increasing output of lower-end items to boost sales by targeting the mass
market.
It is a Japanese custom
to give gifts of 24 carat gold ornaments (Credit: courtesy Tanaka
Kikinzoku Kogyo KK)
The home market is now
just over 50 tonnes (1.61 million oz) compared to 120 tonnes (3.86 million
oz) in 1990. The jewellery is sold through around 15,000 retail outlets of
which only a small proportion are really active and innovative and include
the big branded stores and the department stores.
Traditionally, most of
the jewellery was from home fabrication
but with the strengthening of the yen, imports increased sharply reaching
over 20% of sales in 1994. Today, about 30% of the jewellery comes from abroad,
mainly from Italy, France,
US and Hong Kong.
There is a 6% import duty.
Jewellery
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