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Article: SEIKO'S FIVE-YEAR PLAN CROWNED BY SPINOFF.(Brief Article)
- Article from:
- WWD
- Article date:
- May 18, 2001
- Author:
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Seiko Corp. feels it's time to restructure and sharpen its U.S. focus.
Seiko said Thursday that it will spin off its watch business on July 1 to the newly formed Seiko Watch Corp. The subsidiary will handle the manufacturing and marketing of all Seiko watches worldwide, which in the U.S. includes the Seiko, Pulsar by Seiko and Spoon By Seiko brands.
The formation of Seiko Watch Corp., which is based in Tokyo, is the final step in the company's five-year decentralization strategy to increase overall profitability by treating each business separately with individual strategies.
Tsutomu Mitome, president of Mahwah, N.J.-based Seiko ...