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26th International Jewelry Tokyo was held for 4 days at the Tokyo Big Sight from 21/01/2015 to 24/01/2015．
It is strongly believed that the world economy of 2015 is depended upon the U.S. economy. The U.S. economy has become steady and come back to the normal business cycle; the trend line has become before Lehman Shock and unemployment rate surely has been declining. It is predicted that Europe and the emerging nation economy is driven by the U.S. economy this year. The policy rate seems to be drawn up by FRB in 2015 against the social background like above, and it is expected that an interest rate increase would be performed around spring at the earliest or autumn at the latest．
However, if the United States is put into a full-fledged interest rates rise, it is expected to cause inflation at a stretch, as a result of the outflow of US dollar from emerging countries and slump of their currencies. I think that how each emerging countries cope with a change of the external environment is the one of the very important key factor to perceive the world economy of 2015．
In addition, oil price-drop crisis might be another factor this year too. Recently, the crude oil market price has dropped to $55 per 1 barrel from over $100 level. If I look around the world economy, cheap oil price brings variety of benefits not only to European countries or East Asian region but also to the whole world. However, it has become a serious damage to oil-producing countries. Particularly, because resources such as crude oil and the gas accounted for two-thirds or more of the export in Russia, the sudden drop of the crude oil price pushed Russian ruble to be sold and to be weakened. The Russian central bank had raised policy rate, for ruble defense from professional speculators selling pressure, at a stretch from 10.5％ to 17％．However, high interest rates and the ruble depreciation have been progressed further, and then Russian domestic economy seemed to become serious．
In addition, the economy of a euro area and the emerging nation which depend on China seems to decelerate．Because China has been attempting structural reform toward to domestic demand-led economy from export-driven or investment-led economy; so-called new normal condition, which consumption is an axis. Therefore, it is expected to see growth rate falling into the first half of 7％ from 10％. The slowdown in the demand for natural resource arise from the slowdown of the China’s economy, it is expected that the country having high resources dependence of the economy would be in more and more severe condition in near future．
Abenomics second act started in Japan．Then the export-related companies are anticipated to grow smoothly, under the influence by the additional monetary easing and financial dispatch (revised budget) and postponing the tax hike. However, Japan’s real economy is decelerating, and it seems to have become a serious after consumption tax increase since last year. It was said that New Year sale was successful, selling expensive items． But our industry had much different impression, having negative impression, from the beginning of this year. Under these circumstances, IJT 2015(biggest jewelry show in Japan) had started．I felt strongly that IJT 2015 was much different from previous show. And, the trend of the visitor was the most different part of all．It seemed that there were more foreign buyers and much less Japanese buyers, compared to last year．
Foreign buyers were active from morning of the first day at each booth, and many said that more than 70％ of the total sales were brought by foreigners. It seemed that the exhibitors who targeted domestic market had a hard time. Just seeing above circumstances, I had an impression that we were in the difficult stage. However, not all the overseas buyers were in the buying mood, I would like to express that they were severe. They checked a product so carefully and did not buy if it was not suitable for them． But, if they find anything suitable, they did not mind the price. Many overseas buyers visited our booth from the first day also. Globalization advances more and more, and, in the present condition that the fence of the border is gradually disappearing, Japanese companies are assumed to be in the situation that must change significantly. It is not the point at issue to handle quotient materials for foreign countries or domestic market; I keenly realized that we, as a Japanese company, should make an effort not to be left behind by the overseas company. Our industry is still industry obsoleted previous business practices remain, but I think that change, like the other industry or foreign companies, are required．
Even looking at this jewelry show, I felt that a lot of people had gathered to companies which were working on something new. We will strive really hard to evolve in order to meet your requirement. And, we will try to prepare many new items to give you wide range of selection. We are looking forward to meet you at the next exhibition. At the end, we would like to express our sincere gratitude to who visited our booth at this show．
