Despite the recession, the makers have created the dazzling 24k gold tree to create a "gorgeous atmosphere".
The tree is decorated with more than 240 jewels including diamond baubles and strings of pearls, weighs more than 21 kilograms - and is worth (£1million) 150million yen.
The tree went on display this week at the Ginza Tanaka jewellery shop in Shinsaibashi, Osaka.
"Economic sentiment is sluggish. But, at least in this store, we want people to feel a gorgeous atmosphere," a store official said.
The de luxe tree comes just after the ultimate in lazy Christmas tree decorations was revealed.
The internet sensation is an instant tree that goes from the box to twinkling in the corner in two minutes flat.
And it is considerably cheaper - with prices starting from about £70.