The history of cultured pearls apparently goes like this:
Kokichi Mikimoto is credited with perfecting the technique for artificially stimulating the development of round pearls in akoya mollusks, receiving a patent for this technique in 1916. Although patented in 1916 this technique has since been improved upon and used extensively throughout the pearling world - no longer simply used to cultured akoya pearls, but freshwater, South Sea and Tahitian pearls as well.
However, at risk of offending some Japanese sensitivities, an Australian, C. Denis George convincingly argues that it was not the Japanese at all who discovered the technique of culturing pearls! It was a British-expat, according to George.