TOKYO -- After seven decades in business, Osaka art supplies company Tsuboyone is preparing to shut down next month. Japan's shrinking student population has gradually reduced the market for the palettes, pencil sharpeners, brush buckets and other products it sells to schools and art colleges.
The small company was founded in 1949 -- the same year Japan logged a record 2.69 million births amid the postwar baby boom. The estimate for last year was under 800,000, less than a third of the peak.
