Seiko President Akio Naito shares insights into the brand&rsquo;s innovative vision and future ambitions.

Seiko Watch Corporation President, Akio Naito, made a prestigious visit to Malaysia to inaugurate the brand-new Seiko boutique at The Exchange TRX, Kuala Lumpur. This grand opening marked a significant milestone in Seiko's expanding presence across Southeast Asia. Amid the excitement, we had the exclusive opportunity to sit down with Naito himself to discuss Seiko's current position in the global market, the innovations driving the brand forward, and their ambitious plans for the near future.
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<li>After the pandemic, the economy has not bounced back as expected in Asla. What are the biggest Personal Perspectives and Leadership challenges for Seiko, particularly in Asian countries?</li>
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Asia is the market in which Seiko first ventured overseas. Thanks to our long history in Asia, I believe brand recognition and loyalty are higher compared to other regions. These undoubtedly empower the brand, but at the same time, we must transform and upgrade the traditionally built image to keep up with the rapidly changing market as well as consumer tastes. One significant change brought about by the pandemic is digitalisation, including the rise of e- commerce. The pandemic has accelerated our adapting to this change, actively utilising digital marketing and social media to enhance our communication with customers, yielding positive results. I believe the information about today's event will also spread through social media, encouraging many people to visit this new boutique. While virtual experiences have become commonplace due to digitalization, it is also true that the value of real experiences is being recognised and appreciated anew. The purpose of this Seiko boutique is to further evolve and deepen the brand experience by leveraging both virtual and real experiences. By doing so, we aim to renew the traditionally cultivated perception of the brand in the Asian market and elevate it to an even higher level. To be bit more specific, Seiko's image, in many Asian countries, is a familiar household brand as a timepiece product. On the other hand, I believe that, other than among the watch collectors and aficionados, our signature stories behind our key collections, such as King Seiko, Astron, Prospex, Presage or Seiko 5 Sports, the collections we call "Global Brands,'" are well known by the general consumers. By communicating these signature stories, Seiko can become an item of emotional value as opposed to a mere timing instrument.
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<li>Since you started your career in the watch industry and Seliko, could you share the challenges you have faced over time in Asian countries?</li>
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&nbsp;The biggest challenge faced over time, not only in Asia but globally, was effective communication. Seiko has historically been a brand with a wide spectrum of product categories and target consumers. Moreover, we understand that a wide range of watches without a clear identity could potentially create conflict and could lead to a blurred brand identity. Today, we are focusing on the five global collections and establishing a clear identity for each collection based on Seiko's contemporary high-quality watchmaking and heritage. For example, the Prospex collection features timepieces for both serious and recreational sports lovers and adventurers. It carries forward the high reliability of our diver's watches since they were first introduced in the Japanese market in 1965. Our diver's watch heritage is substantially reflected in our new creations through their reliability, durability and iconic designs. Our aim is to develop the Seiko brand as a premium watch brand of choice in the mind of consumers in every market.

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<li>Being the 100th anniversary of the brand, can you share with us the related activities moving forward, for the brand to be closer to the customers?</li>
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We are holding events celebrating Seiko's 100th anniversary across various Asian countries. For example, we held an event in Taiwan to celebrate Seiko's 100th anniversary and the 70th anniversary of Seiko Taiwan. At the event, we showcased different themes, including "Seiko History", "Seiko's World Firsts" and the "Beauty of Japan". The event was well-received by both the media and our customers. We also hold events that focus on specific brands like King Seiko and sometimes on design, such as the "Power Design Project" exhibition. We believe that meeting with customers face-to-face is extremely important to convey the value of our brand, so we value not only digital communication but also prioritize live events to strengthen our relationship with customers.
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<li>Seiko has been a global entity for a long time. How different is it to strategise between the different markets across APAC and internationally?</li>
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We have introduced watches under the Seiko name for 100 years, and it is essential for us to provide high value as a global brand to every region worldwide. Effective communication of our brand story to customers, regardless of the market, is crucial. The new Seiko boutique will serve as a storytelling hub for the brand, just like our other boutiques worldwide. Naturally, the characteristics of each region and the values of customers differ in each area and market. Seiko is a brand nurtured in Japan, where unique Japanese values are deeply rooted. Recognizing how these values are perceived in various regions and understanding what values resonate with the region's customers are crucial for our marketing activities. In the APAC countries where the consumers generally perceive products from Japan to be of high quality, we will continue to enhance Seiko's brand image as a premium watch brand.
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<li>Do you think the online business is essential for the future of Seiko and watches?</li>
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Yes, I believe that online business will continue to be essential moving forward. In the US, nearly 40% of sales come from e-commerce. In Malaysia, the ratio is still very small considering the market size, as the majority of Seiko customers prefer visiting the physical stores to see the products themselves. However, considering customer convenience, I believe there is potential for growth in e-commerce in Malaysia, and we will continue to enhance our online business efforts for the Malaysian market.
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<li>We notice that sometimes the strategy for the domestic market in Japan Is somewhat different from the strategy overseas. Will this difference be maintained over the near future?</li>
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Differences in strategy may arise due to differences in product lines between the Japanese market and overseas. For example, some product lines in Japan were developed independently from the international market for historical reasons. These differences have become minimal as we pursue the "Global Brand" strategy, and our strategies today have become much more integrated globally than in the past. We will continue to move forward with a global approach to our marketing and communication strategies.
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<li>Seiko has a huge historical archive of fantastic watches. Often, as Seiko fans, we continue to learn and discover new things that are unknown to us about the brand especially since a lot of Information is in Japanese and not available to most. How can customers learn and understand more about the history of Seiko without going all the way to Japan to visit the museums?</li>
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We are aware that more watch fans around the world are interested in and want to learn more about our watchmaking heritage and our signature stories, and we are making steady efforts to provide this information effectively through digital communication to our fans worldwide. Our websites share everything from the latest product information to the historical background of our products in multiple languages. The Seiko Museum, which is enjoying many visitors from around the world, has its own official website, which provides content in both Japanese and English, making information accessible to global fans. Secondly, the website features a virtual museum experience, allowing you to explore as if you are walking through the museum (the content for the Grand Seiko Museum on the 6th floor, which opened in April 2024, is not yet available).
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<li>Is there ever a plan for Seiko to do a big grand exhibition that may travel around the region to showcase the historical pieces and their stories to the markets?</li>
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Commencing with Seiko Power Design Project, there are some exhibitions expanding globally to connect with fans all over the world. There are no plans for a big exhibition to showcase all historical pieces, but we intend to hold various events worldwide, not limited to the aforementioned events in Asia, to strengthen our relationship with customers.

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<li>On the occasion of the 100th anniversary of the brand, do you have special messages you would like to extend to the fans and customers of Seiko?</li>
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The 100th anniversary of the Seiko brand is also a celebration of the legacy of the company founder, Kintaro Hattori. Kintaro established a manufacturing factory for clocks in 1892 and produced his first wristwatch in 1913. Rapidly expanding his business, by 1922, his factory, 'Seikosha,' had about 2,000 workers and was producing almost one million timepieces annually, some of which were exported. Then, in September 1923, the Great Kanto Earthquake struck Tokyo and the surrounding areas. It was a horrific disaster that took the lives of more than 100,000 people in the Greater Tokyo area and burned most of the city centre. Kintaro's store, his factory, and even his house, were destroyed by the earthquake and fire. Kintaro, who was 62 years old at the time, was devastated, but four days later, he announced the reopening of Seikosha and started reconstruction. &nbsp;Another casualty of the fire was the destruction of around 1,500 watches and clocks that customers had entrusted to the company for repair. Putting his customers' needs first, Kintaro took out a newspaper ad stating that he would replace, for free, all the lost watches and clocks entrusted to the company for repair with new items of equal value. This generous offer further strengthened the public's trust in his company. In 1924, 15 months after the earthquake, he launched his first new product, the first wristwatch with 'Seiko' on the dial. The watch signified the beginning of the Seiko brand and marked a fresh start after the hardships. Obviously, the 'Seiko' name came from his factory Seikosha. The word &lsquo;Seiko' in Japanese means exquisite and precision manufacturing and is also a homonym for a word meaning 'success'. The name represented his commitment to quality manufacturing and his ambition to succeed in watchmaking. Kintaro also took this opportunity to further modernize his manufacturing facilities and processes, which laid the foundation for continued growth and technological breakthroughs that have led to the Selko brand today. The history of the Seiko brand is also a history of everlasting challenges. We pledge to continue providing products that enrich the world and become a trusted brand, keeping in mind Kintaro's philosophy of being "Always one step ahead of the rest".

Meaningful Steps

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