Cazalea, as the Seiko moderator, initiates a multi-part series to illuminate the broader vision of the Seiko Group, beginning with its management vision. This introductory post outlines Seiko Group Corporation's transformation into a 'solutions company' and its new 'Seiko Milestone 145' management plan. It provides essential context for understanding Seiko's diverse industrial and horological endeavors beyond just watchmaking.
Introduction
Speaking as the Seiko moderator (in this job almost 10 years), I periodically feel the need to share the broader vision of the Seiko group, as it differs significantly from other watch groups in its breadth of products, and in its vision. Rather than being a collective of luxury product brands, Seiko has developed over 145 years into a unique Japan-based conglomerate that is seen primarily a company making moderately-priced watches, but it is actually a huge family of industrial products and services. In the this set of articles I hope to illuminate this mysterious provider of timepieces... primarily through the company's own words and with links for your amusement, should you be interested in further research.
Cazalea
A letter from Seiko Group Corporation's Chairman, Group CEO, and Group CCO -- Shinji Hattori
Seiko Holdings Corporation recently changed its name to Seiko Group Corporation. By strengthening the Group's integrated corporate strength and shifting our management to actively connect our Group companies, we are transforming our business into a structure that addresses social issues as well as serving our customers. We are generating synergies among our various operating companies and growing together as one team β not by simply combining our diverse individual strengths, but by multiplying their power to produce a far greater combined energy.
Our official Statement of Purpose: βAs a company trusted by society, we will constantly pursue innovation, inspiring people everywhere, and creating a 'future full of smiles'.β
We believe that delivering a bright, positive future to the next generation ( the βfuture full of smilesβ) is an essential role for us, here and now. Why?
Today, the world is facing many challenges, including environmental problems, diversifying values, and geopolitical risks, among others. No company or brand can be sustainable if society itself is not sustainable. This concern for the social context in which we operate is in line with our founder Kintaro Hattori's desire to
"contribute to society through the watch business.β That spirit has been passed down, along with our corporate philosophy, to always be
βA company that is trusted by society.β
We must provide products and services that help to solve problems, so that each of us can lead a better life. With that in mind, our new Management Plan, Seiko Milestone 145 is for us to become a "solutions company" rather than simply a hardware and software sales company. SMILE145 establishes three strategic domains based on value we provide, rather than the product or service-based business segments we used in the past.
These three strategic domains are: Emotional Value Solutions, Devices Solutions, and Systems Solutions. Through these domains, we will respond to social needs across a wide range of fields and achieve sustainable growth as a Group.
With the change of our company name, we return to our roots as a "solutions company" and, staying βalways one step ahead of the rest,β we continue to share with our stakeholders the special moments that move us. We bring the slogan βSEIKO: Moving ahead. Touching heartsβ to life while advancing toward our 150th anniversary and beyond, into a future full of smiles. We look forward with pride and pleasure to your continued support.
Shinji Hattori
A letter from Seiko Group Corporation Director, President, and Group COO -- Shuji Takahashi
In 2022, our Group launched a new Mid-Term Management Plan called Seiko Milestone 145, or SMILE145 for short β because this five-year plan runs to FY2026, the 145th anniversary of our founding.
We are aware that our business is caught in a time of rapid, destabilizing change, referred to as VUCA (Volatile, Uncertain, Complex, and Ambiguous). Recently, uncertainty in the business environment has increased tremendously. We must respond to these changes, and rapidly implement new strategies to ensure stability. From a longer-term perspective, this Mid-Term Plan aims for sustainable growth, not merely by increasing our earnings results, but by working together with the societies in which we operate to build a better future.
The Mid-Term Plan was formulated by backcasting from the Group's 10-year vision. We use this approach of βlooking backwards from our successful futureβ to accomplish each task along that path and achieve our mid-term goals by FY2026, when we aim to become βA solutions company that offers high-added-value products and services that create excitement and generate substantial profits.β
The basic policy of SMILE145 incorporates a strategy we call MVP: Moving (emotional), Valuable (high value-added), and Profitable (returning high profits). To become a solutions company, we need MVP products and services that are not only competitive, but also have substantial growth potential. We will promote our MVP strategy to achieve growth and impress our stakeholders around the world.
In developing SMILE145, we have changed from a watch-centered portfolio to one that grows each of our three newly-established strategic domains: Emotional Value, Devices Solutions, and Systems Solutions. This Mid-term Plan sets out five core strategies as common to all domains: Sustainable Development Goal activities; human resource development and enhanced employee engagement; acceleration of digital transformation/innovation; reinforcement of R&D activity; and improved branding.
Shuji Takahashi
If you like interactive web pages, you can see a visual of how the Seiko group facilitates modern life. Click on the link below, not the image.
