Seiko the latest Japanese giant to record booming sales
Another Japanese horological giant has posted its own impressive global financial figures, this time Seiko Group Corporation.
It comes after the news of Citizen Watch Co. recording record sales and operating profit, as reported by Watch Insider.
Seiko Group Corporation’s global watch and clock sales came in at ¥203.1 billion — about $1.28 billion or £952 million — for the financial year ending March 31. The total excluding clock sales is ¥196.8 billion — about $1.24 billion or £923 million.
These are figures that are astonishingly close to Citizen Watch Co.’s numbers, which showed watch sales of ¥197.1 billion, which is about $1.24 billion or £928 million.
This led to an operating profit for the division in FY25 of ¥27 billion — roughly $170 million or £127 million.
Seiko Group Corporation has seen a meteoric rise in both turnover and profit in the last decade, with sales up almost 50% and operating profit almost trebling since 2018.
The company noted that the performance of both Seiko (and its global brands) and Grand Seiko had been particularly encouraging in the US, where Grand Seiko America recently announced that it would be taking over control of the Canadian market.
It has told its shareholders that it expects sales in its watch and clock division to rise again in FY26 to ¥212 billion — approximately $1.33 billion or £994 million — and for operating profit to rise to ¥29 billion — roughly $182 million or £136 million.
