eiko celebrates its 145^th anniversary in 2026, the Japanese group is entering a new phase in the evolution of its brand architecture — and doing so from a position of growing financial strength.

In its latest nine-month results (ended December 31, 2025), Seiko Group reported net sales of around ¥254 billion (about $1.6 billion), up from roughly ¥232 billion ($1.5 billion) a year earlier, while operating profit rose to about ¥29 billion ($185 million)

Driven largely by the watches division and the global expansion of brands such as Grand Seiko and Seiko, this momentum has prompted the group to step up investment in marketing and brand development ahead of Watches and Wonders Geneva 2026.

Credor’s international expansion is the latest chapter in a global strategy patiently built by Seiko over its 145-year history. Below is a 1951 advertisement published in Europa Star for the “Hattori Trading Company.”

©Archives Europa Star

Having successfully established Grand Seiko as an internationally recognised luxury watch brand, the company is now turning its attention to Credor (based on the French “crête d’or”, or crest of gold) — long admired in Japan but still relatively discreet internationally.

Back in 2015, we asked Shinji Hattori — great-grandson of Seiko founder Kintaro Hattori and Chairman, Group CEO, and Group CCO of Seiko Group Corporation — whether Credor would one day go global. “I intend to promote Credor internationally, but all in good time,” he replied. A decade later, that moment has finally arrived!

©Archives Europa Star

Credor’s debut at Watches and Wonders signals a clear strategic shift. Historically focused on the domestic market and known for refined jewellery watches and the use of precious materials, the brand is now being repositioned with a streamlined collection and a renewed identity centred on beauty and elegance. Credor’s brand philosophy is “The Creativity of Artisans”.

Two years ago, things got more concrete on the occasion of its 50th anniversary, Credor presented reeditions of two milestone watches in its history: the Eichi II (inspired by the original Eichi, released in 2008) and the Locomotive by Gérald Genta, released in 1979. “Is this a prelude to a greater presence by Credor on the international markets? There are grounds to think so”, we again wrote then.

©Archives Europa Star

In conversation with Europa Star, Akio Naito, President of Seiko Watch Corporation, discusses the distinct roles of Seiko, Grand Seiko and Credor, the challenges of expanding high-end watchmaking production in Japan, and how growing global interest in Japanese craftsmanship is opening new opportunities for the group’s most exclusive creations.

Europa Star: For the first time, Credor is present at Watches and Wonders, signalling a new phase of international expansion. Could you explain how the three brands — Seiko, Grand Seiko and Credor — are positioned?

Akio Naito: Grand Seiko was founded in 1960 as the pinnacle of Seiko watchmaking. Its mission was to pursue the highest level of functionality — accuracy, legibility, durability and precision. It represents the most advanced expression of watchmaking within Seiko.

Credor came later, in 1974. Like Grand Seiko at the time, it began as a collection within the Seiko brand. It was only in 2019 that Credor became an independent brand positioned in the luxury segment. From the beginning, however, its philosophy was different. While Grand Seiko focused on performance and precision, Credor emphasised beauty, elegance and precious materials, often incorporating gold, jewellery elements and decorative craftsmanship.

When I joined the company about 40 years ago, Credor was actually ten times larger than Grand Seiko in Japan. The brand initially grew through jewellery watches, but over time expanded into sports watches and stainless steel models. Eventually the collection became too broad and risked losing its identity. Distribution within Japan had also expanded significantly. Four to five years ago, we realised it was time to become much more selective.

Our first step was to restart and reposition Credor domestically before bringing it back to the global stage. Today the brand has regained a clear identity distinct from Grand Seiko. At the same time, Grand Seiko has grown strongly internationally, and customers are now far more open to high-end watchmaking coming from Japan.

The first Credor watch in 1974, created as a premium line of high-end, ultra-thin dress watches using precious metals, with a name derived from the French “crête d’or” (crest of gold).

The Eichi II was released in 2014 to commemorate both the 40th anniversary of the Credor brand and the 15th anniversary of Spring Drive. This special creation hails from the elite Micro Artist Studio, located within the Seiko Epson Shiojiri facility.

The relationship between Gérald Genta and Seiko dates back to the 1970s, when the designer frequently traveled to Japan and developed a close bond with the Japanese watchmaker. Among his celebrated creations was the Credor Locomotive. This new version features a striking green dial, inspired by the green signal light in train systems.

How do you define the DNA of Credor today?

We do not want to position Credor too strongly as a “Japanese” brand. Grand Seiko already expresses Japanese nature, craftsmanship and aesthetics very clearly. Credor is different. While the artisans naturally convey a Japanese sensibility, the brand aims to communicate a more universal idea of beauty and elegance.

Today the collection revolves around three main pillars: Goldfeather, Locomotive and Eichi II, a very pure three-hand Spring Drive watch. Credor is not defined by traditional categories such as sports or dress watches. The guiding principle is simply beauty and elegance.

Situated on Kyoto’s iconic Shijo Street, this newly opened salon is the first location worldwide to unveil Credor’s reimagined store design, introduced in 2025.

Where will Credor sit in terms of pricing compared to Grand Seiko?

In general, Credor will sit slightly above Grand Seiko in terms of price range. In the past, the brand has produced highly complicated watches, including minute repeaters and tourbillons.

However, the idea is not to position Credor purely through price. Rather, Credor and Grand Seiko are meant to coexist at the highest level of Japanese watchmaking, each with its own distinct identity.

In the future we may open more dedicated Credor salons. We already have the Credor Salon in Kyoto, and as the brand develops internationally we are exploring further retail separation.

Credor also has a fine tradition in complication watches. In a 2006 issue of Europa Star, the brand appeared on the same page as Greubel Forsey thanks to its Spring Drive Sonnerie. As Pierre Maillard wrote at the time, “this hour-strike is particularly noteworthy not only technically (it combines a totally silent Spring Drive movement, a strike speed regulator that is also quiet because, quite unusually, it works by the ‘viscosity’ of air, and a gong in the shape of a plate that occupies the entire back of the case) and aesthetically (the construction of its movement is both very original and perfectly finished), but also from a cultural point of view. In this sense, the chime, made of an ancient alloy whose secret is jealously guarded by the traditional artisans who craft it, resonates not only like a gong in a Buddhist temple, but also with an unusual slowness, allowing this very pure sound to reverberate for a long period of time.”

©Archives Europa Star

You mentioned that the brand’s collection was streamlined in Japan. What did that involve?

We significantly reduced the number of SKUs and focused on the models that best express the brand’s identity. The objective was to make Credor clearer and more distinctive.

Retailers understood that we were serious about repositioning the brand as a true luxury watchmaker. At the same time, production is naturally limited because these watches are extremely complex to manufacture. Expanding capacity is not easy, and training skilled watchmakers takes time.

Credor watches are produced by dedicated watchmakers at the Shizukuishi Watch Studio and Micro Artist Studio, so scaling production inevitably takes time.

The Credor GBBY975 is a 50th-anniversary, 5-piece limited edition featuring a 37.4mm platinum 950 case and a four-layer engraved dial by master craftsman Kiyoshi Terui. It showcases water-ripple, “hamon,” and mirror carving techniques, along with 24 hand-set diamonds and the hand-engraved 6890 manual-wind calibre.

Which markets do you expect to respond most strongly to Credor?

The United States was the first market to respond strongly to Grand Seiko, and we expect positive momentum there for Credor as well. At the same time, we see strong potential in Asia and the Middle East. Our main constraint remains production capacity.

The Goldfeather, first launched in 1960, was reborn in 2023 as the Credor Goldfeather, a modern dress watch that strives to embody the qualities of a feather: thin, light, smooth, elegant, and graceful. Credor unveils a new Goldfeather timepiece showcasing the beauty of traditional Imari Nabeshima porcelain.

This timepiece features a dial created in collaboration with Hataman Touen, a prestigious kiln renowned for Imari Nabeshima porcelain. Among the various styles of Imari porcelain, Imari Nabeshima ware was nurtured in Okawachiyama, a place in Imari famously known as the “village of secret kilns.” During the Edo period (1603-1868), the Nabeshima domain’s official kiln produced Imari Nabeshima porcelain as offerings for the shogunate and feudal lords. Such pieces were created using sophisticated techniques that were strictly kept within the domain.

The watch is powered by the Caliber 6890, an ultra-thin mechanical movement with a thickness of just 1.98mm. A movement that can be assembled only by experienced master watchmakers, Caliber 6890 has a delicate finish visible through the sapphire crystal case back.

What did you learn from Grand Seiko’s international expansion that could benefit Credor?

When I moved from Tokyo to the United States about ten years ago to establish our company there, one of the first things I discovered was a small but extremely passionate community of Grand Seiko collectors. Whenever we invited watchmakers to New York, these enthusiasts gathered in large numbers. They exchanged knowledge and information very quickly, and that community played a crucial role in the brand’s development.

At the same time, it was important to clearly separate Grand Seiko from Seiko. In 2017 we moved the Grand Seiko logo to the 12 o’clock position, which helped communicate that it was a distinct brand.

Credor is not yet as widely known as Seiko or Grand Seiko, but the success of Grand Seiko over the past decade has helped prepare the ground for Credor internationally.

First introduced in 2005, Grand Seiko’s Snowflake dial evokes the beauty of the snow-covered Hotaka mountain range in Nagano Prefecture, where Grand Seiko Spring Drive and quartz watches are created. This celebrated dial design later inspired a light blue variation, affectionately known as the Skyflake, whose gentle hue captures the image of wind-swept snow shimmering beneath a clear sky.

Grand Seiko unveils two new creations featuring the Snowflake and Skyflake dials. Each timepiece is presented in a 33.0 mm x 9.1 mm case, the slimmest and smallest in diameter of any Grand Seiko 9F creation to date. These compact dimensions are made possible by Caliber 9F51, the first new movement in the 9F family in six years.

How did your markets evolve in 2025 for Seiko, Grand Seiko and Credor?

Overall, 2025 was a very positive year. Tourism in Japan reached record levels, with more than 40 million visitors. For many travellers, visiting Japan has become a must-do experience. Visitors from Asia, America and Europe are discovering our brands locally, often taking advantage of the weak yen.

Like the broader luxury sector, Grand Seiko experienced a slowdown over the past two to three years after several years of strong growth. However, since late last year we have seen renewed momentum, particularly in the United States.

At a time when many luxury watch brands are facing difficulties, we continue to see strong interest in collections such as Seiko Prospex, King Seiko and Presage. In the United States we increased Grand Seiko prices last year partly due to tariffs.

The Middle East has been a strategic focus for the past decade. Historically, distribution there was oriented toward entry-level Seiko models such as Seiko 5 Sports, but we are gradually transitioning toward a more luxury-oriented network.

In Europe, the structure has already evolved. Seiko and Grand Seiko now operate more independently, with boutiques such as the Grand Seiko Boutique on Place Vendôme in Paris. Growth in Europe has been steady, although markets such as Germany and France have recently been more challenging.

Seiko 5 Sports introduces a limited-edition collaboration model with HUF. Based on an archival Seiko model from the 1970s, affectionately known as the “Time Sonar,” this special timepiece has been reimagined with the unique style of the lifestyle brand rooted in the spirit of skateboarding and street culture, and finished with exclusive design elements.

How does Japanese culture influence your brands internationally?

For Grand Seiko, the themes of nature, time and Japanese aesthetics will remain central. For Seiko, which is a global brand, the focus is more on the identity of each collection — Presage, King Seiko or Prospex — rather than directly emphasising Japanese culture.

Interestingly, customers do not necessarily move step by step from Seiko to Grand Seiko. Many discover the brands independently and then explore the different collections.

The Presage collection has long been a showcase of Japanese artistry and Seiko’s mastery of mechanical watchmaking, with dials crafted in enamel, urushi lacquer, Shippo enamel, and Arita porcelain. Seiko introduces a new creation in the Presage Classic Series with an enamel dial, fusing Japanese artisanal techniques with the elegance of a tonneau-shaped dress watch.

Could you share a preview of your plans for 2026?

2026 marks the 145^th anniversary of the company, so we will introduce several commemorative editions across our brands.

Credor will be one of the key topics this year, particularly with new launches presented at Watches and Wonders.

The Seiko story began in 1881 when company founder Kintaro Hattori opened a shop in Tokyo’s Ginza district for the import, sale, and repair of timepieces. For its 145th anniversary in 2026, the brand launches commemorative King Seiko, Prospex, Presage, and Astron models. The Presage model draws inspiration from a variation of the Timekeeper, Seiko’s first pocket watch from 1895. It features an onion crown, and the bezel, which is adorned with intricate and dimensional detailing, echoes the silhouette of the historical timepiece.

The new King Seiko watch features a dial inspired by the pattern that Kintaro arranged to have engraved on his timepieces. Its gray gradation darkens toward the edge, enhancing both the intricate beauty of the pattern and the brilliance of the gold-colored hands, indexes, and letters.

The new GPS Solar Dual-Time Chronograph celebrates Astron’s spirit of innovation, with gold-colored accents gracing every part of the watch – from the dial and bracelet to the case.

The new Speedtimer mechanical chronograph features a dial pattern inspired by the design that was engraved on Kintaro’s early timepieces, reimagined to combine a classic look with the legibility that defines every Prospex watch.

What are your priorities in R&D?

One challenge today is the rising cost of precious metals, so we are studying alternative alloys and materials such as titanium across several brands.

Accuracy also remains a core focus. For Grand Seiko we continue to pursue higher precision with Spring Drive technology. Thermo-compensation techniques long used in Seiko quartz movements — including the 9F calibre developed by our colleagues at Seiko Epson — were later incorporated into advanced Spring Drive movements and further refined to achieve the Ultra Fine Accuracy (U.F.A.) level (at ±20 seconds per year, U.F.A. represents the highest accuracy currently achieved by a mainspring-powered wristwatch movement, editor’s note).

We are also continuing to develop advanced movements such as the Kodo constant-force tourbillon, although demand currently exceeds our production capacity.

We already have the Grand Seiko Standard for mechanical movements, which measures accuracy across six positions and three temperature conditions. We are now working on clearer ways to communicate this standard.

This version of the Credor Goldfeather combines urushi lacquer and, for the first time in a Goldfeather watch, a tourbillon.

Beyond Japanese watchmaking, what is your vision for the future of global watchmaking?

Three weeks ago in Tokyo there was an event dedicated to independent watchmakers. People were fascinated by the passion and creativity behind each individual watch. Watchmaking is not only an industrial activity — it is also an art form driven by passion.

As a company we must embrace that spirit. Profitability matters, of course, but what ultimately attracts people to watches is the emotion and craftsmanship behind them.

Passion for watchmaking goes beyond nationality. Whether someone comes from Switzerland, Japan or elsewhere, what matters is the desire to create something meaningful.

Seiko’s first pocket watch, the “Timekeeper,” was launched in 1895. The company celebrates its 145th anniversary in 2026.