Story Highlight
– David Edwards signed off Seiko’s accounts before passing.
– Revenue slightly decreased to £27 million; operating loss reported.
– Seiko U.K. ended with net assets of £28 million.
– Demand for Seiko brand remained strong amid luxury challenges.
– Global watch sales rose 16% in first quarter 2026.
Full Story
David Edwards, the managing director of Seiko U.K. Limited, played a significant role in concluding the company’s financial accounts for the fiscal year 2025-26 before his passing from cancer in July.
Under his leadership, the company reported a revenue of £27 million, slightly down from £27.6 million the previous year. However, the firm experienced a stark shift in its operating profit, which dropped to a loss of £215,000, marking a significant turn for the business. At the end of the financial year, Seiko U.K. Limited reported net assets totalling £28 million.
In his assessment of the trading situation for the watch and clock division encompassing Seiko, Grand Seiko, and Lorus, Mr Edwards pointed out that performance had met expectations despite ongoing obstacles within the wider UK retail landscape, particularly concerning reduced demand for luxury watches. Although detailed sales figures for Seiko and Grand Seiko are not provided, commentary surrounding the financial results indicates that the more accessible product lines performed better compared to their luxury counterparts.
“While the UK market for luxury watches has been challenging, the Seiko brand by contrast undoubtedly benefited as consumers sought high quality watches from a respected brand, which also represented good value,” he noted.
A territorial realignment in 2019 affected Seiko’s reported turnover, contributing to the decline in revenue.
On a global scale, Seiko has positioned itself well to navigate economic challenges. In the first quarter of the 2026-27 financial year, the company’s watch division achieved a revenue of ¥63 billion (approximately $420 million), representing a 16% increase compared to the same period in the previous year. Additionally, operating profits from the watch segment rose by 6%, amounting to ¥13.3 billion ($89 million).
This growth in sales was attributed to a broad improvement across various watch lines, including notable gains for Grand Seiko, Prospex, Presage, and 5 Sports. Internationally, sales flourished across all regions, including the Americas, Europe, and Asia.
In the United States, Grand Seiko outperformed its previous year’s results due to strong customer interest in selected models, while the broader Seiko brand maintained solid sales thanks to popular lines like Prospex, Presage, and 5 Sports. Meanwhile, sales performance in Europe remained largely stable year on year.
