Editor’s Note
Teikoku Databank reports 67,949 companies nationwide suspended, closed, or dissolved last year, with precious metal products wholesale—including jewelry—seeing a 62.2% year-on-year surge, driven by rising metal prices and weak Chinese demand.
Teikoku Databank has announced that the number of companies nationwide that suspended operations, closed, or dissolved last year reached 67,949. The industry with the highest increase rate was “precious metal products wholesale,” including jewelry wholesalers, which saw a 62.2% year-on-year increase.
The surge in closures is attributed to soaring prices of precious metals such as gold, silver, and platinum, coupled with sluggish sales to Chinese tourists. Even though unit sales prices have risen, sales volumes have not increased, leaving wholesalers with little to no profit.
Furthermore, jewelry retailers, which are the main customers of wholesalers, are facing challenges such as the expansion of direct sales by manufacturers, the penetration of the second-hand market, and a decline in orders due to a lack of successors. Many jewelry wholesalers are believed to have given up on continuing their businesses due to uncertainty about the future.
The operating environment is becoming even more severe due to labor shortages and rising interest payment burdens. The data suggests that there may be an increase in “quiet exits,” where small and micro enterprises quietly close their doors while they still have the financial strength to do so.
Issue No. 624 (Published January 25, 2026) Page 7