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Part II. Discusses the impact of the mussel supply crisis in the United States on the international pearl industry. Weakening of the Japanese pearl trade; Japanese mussel business' concern about American mussel exporters' supply capabilities; Search for substitute nuclei in Japan, China, French Polynesia, India, Vietnam and Cook Islands.

Focuses on the cultured pearl industry in Tennessee. Pearl farmers; Profits; Methods of pearl farming; Harvesting; Benefits and disadvantages of pearl farming.

The article examines the pearl-producing industry in Japan and in the U.S. It mentions Kokichi Mikimoto who founded the cultured-pearl industry in the Japan and how families earned a livelihood by raising pearl-bearing oysters. It points on the misfortunes that lead to the depression of Japanese businessmen. It notes on the decrease in pearl shares at Tiffany's due to the decline of quality and the forecast of the Pearl Association of America about the increase in the price of pearls.

Presents information on several jewelry companies that focus on the revival of pearl accessories in the U.S. David Yurman; Mikimoto; John Hardy; Tiffany.

Reports on the expansion of the pearl jewelry manufacturing company Mikimoto (America) Co. Ltd. in Beverly Hills, California. Information on the layout and location of a store of the company to be inaugurated by Toyohiko Mikimoto, president of the company; Assessment of the market share and business potential of the company in the U.S.; Diversification plans of the company; List of global stores of the company.