SEIKO SALES SLIP

Seiko Corporation's consolidated statement for the fiscal year ending March 31 2000, reveals that there was an 8.2% decline of net sales to 276,200 million yen. Sales in the watch and clock sector were down 13.6% for the year, due partially to a fall in domestic demand by the younger generation and lower demand from overseas.

Sales for Seiko Credor achieved steady growth domestically, as did the Pacifique series and the new Phoenix collection for young people. High technology developments such as the Kinetic Auto-Relay and Perpetual Calendar also did well both domestically and in the U.S and European
markets.
Overall, sales were affected by important exchange rate variations, which reduced the sales figures when converted into yen

Source: Europa Star Magazine, Oct. 2000 issue