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Revision as of 03:08, 30 March 2009

This article is about the watch company. For other meanings, see Seiko (disambiguation).
Seiko Holdings Corporation
セイコーホールディングス株式会社
Company typePublic TYO: 8050
ISINJP3414700009 Edit this on Wikidata
IndustryRetail-Jewelry, Precision Instruments and Machinery
FoundedChūō, Tokyo, Japan (1881)
(Incorporated in 1917)
HeadquartersMinato, Tokyo, Japan
(Officially registered in Chūō, Tokyo, Japan)
Key people
Katsumi Yamamura, Chairman; Koichi Murano, President
ProductsWatches, clocks, printers, semiconductors, mechatronics devices, machine tools, optical glass materials, jewelry, eyeglasses, etc.
Revenue ¥213.73 billion (FY2005, consolidated)
Number of employees
6,699 (March 31, 2006, consolidated)
WebsiteSeiko Holdings Corporation

Seiko Holdings Corporation (セイコーホールディングス株式会社, Seikō Hōrudingusu Kabushiki-gaisha) (TYO: 8050), more commonly known simply as Seiko (pronounced say-koh), is a Japanese watch company.

History and ongoing developments

The company started in 1881, when Kintarō Hattori opened a watch and jewelry shop called "K. Hattori" (服部時計店, Hattori Tokeiten) in the Ginza area of Tokyo, Japan. Eleven years later, in 1892, he began to produce clocks under the name Seikosha (精工舎, Seikōsha). According to Seiko's official company history, titled "A Journey In Time: The Remarkable Story of Seiko" (2003), Seiko is a Japanese word meaning "exquisite," "minute," or "success." (The meaning "exquisite" is usually written 精巧, while the meaning "success" is usually written 成功.)

The first watches produced under the Seiko brand appeared in 1924. In 1969, Seiko introduced the Astron, the world's first production quartz watch; when it was introduced, it cost the same as a medium-sized car. Seiko later went on to introduce the first quartz chronograph. In 1985, Orient Watches and Seiko established a joint factory. Recognized as a leader in timekeeping accuracy, Seiko products are often used as the official timekeepers of the major sporting events, including the Olympic Games and the FIFA World Cup editions in Argentina 1978, Spain 1982, Mexico 1986, and Italy 1990.

Grand Quartz, produced in 1978.

The company was incorporated (K. Hattori & Co., Ltd.) in 1917 and was renamed Hattori Seiko Co., Ltd. in 1983 and Seiko Corporation in 1990. After reconstructing and creating its operating subsidiaries (such as Seiko Watch Corporation and Seiko Clock Inc.), it became a holding company in 2001 and was renamed Seiko Holdings Corporation as of July 1, 2007.

Seiko is perhaps known best, though, for its wristwatches. They are known for their advanced technology and are one of the few wristwatch manufacturers that produce all of their watches and movements entirely in-house. Even minor items such as the oils used in lubricating the watches and the luminous compounds used on the hands and the dials are produced by the Seiko factories.

Seiko produces both quartz and mechanical watches of varying prices. The cheapest are around US$50; the most expensive (the Credor Spring Drive Sonnerie) costs over $US100,000.[1] Seiko's mechanical watches are the most prized by collectors—from the Seiko "5" series (the 5 reflects the five essential features of the watch, namely shock resistant, water resistant, automatic, and day and date display), which is the most common; the Seiko automatic Chronometer series; the "Bell-Matic," with a mechanical alarm; to the highly prized luxury "Credor," "King Seiko," and "Grand Seiko" lines. Seiko Kinetic watches account for a large proportion of sales nowadays and combine the self-energizing attributes of an automatic watch with quartz accuracy. There is no battery to change; the watch is entirely powered by its movement in everyday wear.

Seiko Pyramid Talk, the world's first quartz talking clock, from 1984.
The Hattori Clock Tower in Ginza, Tokyo, former headquarters and main store building of K. Hattori & Co., currently houses the Wako Department Store.

Frustratingly for collectors, Seiko does not release all of its watch lines in every region; some are exclusively available in Asia, for instance. Many online retailers will ship watches overseas, though.

Seiko Corporation of America is responsible for distribution of Seiko watches and clocks, as well as Pulsar brand watches, in the United States. The models available in the United States are normally a smaller subset of the full line produced in Japan. Seiko Corporation of America has its headquarters (and Coserv repair center) in Mahwah, New Jersey. In the United States, Seiko watches are sold primarily by fine jewelers and department stores as well as 19 company stores located in various cities.

Seiko's 2004 marketing campaign emphasized that a watch, as opposed to other traits (such as what car they drive, for example), tells the most about a person.

Various Seiko watches were worn by the cinematic James Bond 007 in four films starring Roger Moore from 1977–85. Also, a Seiko watch was worn by Sean Connery in the 1983 Bond film Never Say Never Again. A Seiko Chronograph is also worn by Jason Bourne in the book "The Bourne Identity" by Robert Ludlum.

Seiko also produces other electronic devices. Notably, during the 1980s, the company produced a range of digital synthesizers, such as the DS-250, for use in electronic music. Today, the music division, a part of Seiko Sports Life, produces metronomes & tuning devices.

Spring Drive

On 7 October 2005, Seiko announced the world launch of the Seiko Spring Drive, a new movement that provides 72 hours of power, as opposed to the average of 40 hours in automatic mechanicals. This new movement, which employs a special alloy called "Spron510", has eliminated the traditional balance wheel/escapement regulating system in favor of a "Tri-synchro Regulator." The power from the spring is used to turn the wheels but is also used to generate electrical power for a tiny, ultra-low consumption (~25 nanowatts) crystal oscillator, which in turn is used to regulate (with quartz accuracy) the speed of the wheels to eight beats per second.

Official timekeeper

Seiko is also the official timer of many major sporting events:

Seiko is also named as the official timekeeper of the Gran Turismo racing game series, published by Sony.

Currently, Seiko has agreed to sponsor Honda (previously known as BAR [British American Racing] Honda). The Seiko name cannot currently be found on the Honda racing cars because Seiko Japan refuse to be advertised whilst the names of tobacco companies are still appearing on the cars. They can, however, be found on the lollipop used in the pitlane.

Operating companies (products and services)

  • Seiko Watch Corporation — watches: Seiko (Grand Seiko, Dolce & Exceline, Brightz, Lukia, Prospex, iu, Ruse, Spirit, Alpinist, Ignition, Premier, Coutura, Arctura, Sportura, Criteria, Rivoli, Vivace, etc.), Credor, Galante, Wired, Wired XYZ, Alba, Pulsar, Lorus. Seiko Watch is a planning and marketing company. Seiko Holdings delegates a large portion of the manufacturing in its watch business to Seiko Epson and Seiko Instruments.
  • Seiko Clock Inc. — clocks, kitchen timers: Seiko, Decor Seiko, Seiko Emblem, Seiko Premium, Seiko Melodies in Motion Musical Clocks, Pyxis
  • Seiko Service Center Co., Ltd. — repair and after service for watches
  • Seiko Time Systems Inc. — system clocks (outside, building wall, monument, floral clocks), sports timing equipment
  • Seiko Sports Life Co., Ltd. — golf clubs, stopwatches, musical accessories (tuners, metronomes)
  • Seiko Precision Inc. — printers, time servers, electronic devices, micromechatronics devices, camera shutters, etc.
  • Seiko NPC Corporation — semiconductors
  • Seiko Jewelry Co., Ltd. — jewelry
  • Seiko Optical Products Co., Ltd. — optical lenses & frames
  • Wako Co., Ltd. — upscale specialty retails
  • Cronos Inc. — retail sales of watches, jewelry items and eyeglasses
  • Seiko Business Services Inc. — human resources
  • Ohara Inc. (Seiko owns 32.2% TYO: 5218) — specialty optical glass (glass materials for lenses and prisms)

Seiko Group

Main article: Seiko Group

Seiko Holdings is one of the three core companies of the Seiko Group. The Seiko Group consists of Seiko Holdings Corporation (Seiko), Seiko Instruments Inc. (SII), and Seiko Epson Corporation (Epson). Although they have some common shareholders, including the key members of the Hattori family (posterity of Kintarō Hattori), the three companies in the Seiko Group are not affiliated. They are managed and operated completely independently. Seiko Watch, an operating subsidiary of Seiko Holdings, markets Seiko watches, while SII and Epson manufacture their movements.

On January 26, 2009, Seiko Holdings and Seiko Instruments announced that the two companies will be merged on October 1, 2009 through a share swap. Seiko Instruments will become a wholly-owned subsidiary of Seiko Holdings.

References and footnotes

  1. ^ SPRING DRIVE SONNERIE Template:Ja icon
    Road to BASEL WORLD 2006 — CREDOR NODE SPRING DRIVE SONNERIE Template:Ja icon
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