Due to the prospect of an adverse reaction in the natural pearling industry, the Australian government through the "Pearling Act 1922" prohibited anyone in Australia from artificially producing cultivated pearls. The Act was repealed in 1949. In 1956, a joint Japanese-Australian venture was set up at Kuri Bay, north of Broome as a cultured pearl farm, named Pearls Proprietary Ltd. The company was owned by Male and Co, Broome Pearlers Brown and Dureau Ltd, and the Otto Gerdau Company (New York). The Japanese-owned Nippo Pearl Company handled distribution and marketing. The principal was Tokuichi Kuribayashi (1896–1982) who became highly influential following the death of Kōkichi Mikimoto (1858–1954). Mikimoto, Kuribayashi and another man, Tatsuhei Mise (1880–1924) had all been involved in the invention of cultured pearls around 1900. Kuri Bay was named after Mr Kuribayashi.