The economy is finally picking up, and Tokyoites are in a spending mood this winter. So how better to celebrate Christmas than with a diamond-studded, $1.7 million cake?

　　The sparkling pink creation, which went on sale Tuesday at Takashimaya Department Store in central Tokyo, "has already received many inquiries" from prospective customers, said store spokesman Takeshi Morinaka.

　　A total of 223 diamonds — including a 5-carat, heart-shaped stone — adorn the double-layer, marzipan-coated fruitcake, designed by Tokyo-based sweets chef Jeong Hong-yong.

　　"It's entirely edible, except for the diamonds of course," Morinaka said.

　　For those who can't afford the luxury, Takashimaya will be serving up a replica of the cake at a champagne party on Christmas eve, he added.

　　The cake is on display at the store until Dec. 25.

　　The government on Monday said Japan's economy was continuing to recover from a more than a decade of stagnation, supported by private consumption and growing industrial production.