The Ricardo's and Mertzes travel to Japan, as Ricky is touring near Tokyo and him and his band manager (Fred) are searching for some Japanese talent. Even before the Ricardo's take off it is made clear that Lucy desperately wants a genuine string of Japanese pearls. Ricky, of course, says "no." Once the Ricardo's arrive in Japan, they are immediately taken aback by the cultural differences, such as fish ponds in the bedroom, tiny mirrors, and paper walls. The latter quickly gets Lucy and Ethel in a sticky situation as they bust through the wall while admiring the guest next door, Bob Cummings. This is quickly resolved, however, since Ricky and Bob Cummings team up (both in search for new talent).
Later, Bob Cummings comes to visit the Ricardo's and shows off pearls and other trinkets to Lucy--pearls that cost only $100 in Japan are $300 in the states. Ricky still insists that Lucy cannot have the pearls but she is persistent and when Ricky leaves tells Mr. Cummings she will buy the pearls. Since Lucy doesn't have the money, she decides to steal it out of Fred's treasured money belt and replace the money when the families get back to Connecticut. How will she replace the money? She takes out $200 from Fred's belt and decides to sell the second strand back in the states.
Lucy successfully buys the pearls but when Fred unexpectedly wants to exchange his money for Traveler's Checks, things go awry. Luckily, the girls give back the pearls and get back their money...only they give back Lucy's fake pearls from Macy's! Lucy and Ethel stall Fred and he ends up going to what the girl's think is a Japanese baseball game while they search for Bob Cummings, to return the genuine pearls! They track him down at a Geisha house, which is for men-only, therefore they dress as Geisha's for admittance!
Unbeknownst to them, Ricky and Fred lied and went with Mr. Cummings to the Geisha house...so they must be especially sneaky. After some follies as phony Geishas, Lucy successfully whispers to Mr. Cummings who she is and that she must return the pearls. Everything goes as plans and the ladies almost get away with their plot until Lucy's wig pops off!
However, since Ricky and Fred went against Lucy and Ethel's wishes by going to the Geisha house, the men decide to buy their wives pearls anyway, to ease things over.
The scene fades with our favorite two couples, all smiles.