Citizen and Seiko Both Cross EUR 1 Billion Sales Barrier in 2025
Two Japanese Giants Break the EUR 1 Billion Barrier
In a remarkable milestone for the Japanese watch industry, both Citizen and Seiko have reported watch division sales exceeding EUR 1 billion for the fiscal year ended March 31, 2026. This achievement places them alongside a select group of Swiss watchmakers — including Rolex, Cartier, Omega, Patek Philippe, Audemars Piguet, Richard Mille, Longines, and Vacheron Constantin — that report similar revenues.
However, there is a crucial difference: while Swiss brands achieve these numbers through high unit prices, Citizen and Seiko reach them through volume, reflecting their positions in the accessible and mid-range segments of the global market.
Seiko Group Corporation: 27% Growth
The Seiko Group Corporation — encompassing Grand Seiko, Credor, King Seiko, Seiko Prospex, Seiko Astron, Seiko Presage, Seiko 5 Sports, and third-party movement production — reported watch division sales at JPY 203 billion (approximately EUR 1.1 billion). More impressively, the group achieved a 27% increase in sales over the previous fiscal year.
This growth came during a period when Swiss watch exports declined by 1.7% in 2025, highlighting the diverging trajectories of the Japanese and Swiss industries.
| Company | Watch Division Sales (JPY) | Approx. EUR Equivalent | YoY Growth | Key Markets |
|---|---|---|---|---|
| Seiko Group Corporation | JPY 203 billion | ~EUR 1.1 billion | +27% | Japan (tourism), USA, Europe |
| Citizen Watch Co. | JPY 197 billion | ~EUR 1.07 billion | +10% | Japan, North America, Europe |
Seiko: Domestic Tourism and US Growth Drive Results
Seiko's significant increase was driven by strong domestic sales in Japan — benefiting from a low yen that attracted tourism — and robust growth in the US market. This applied to both Grand Seiko and the Seiko Global Brands (Prospex and Presage). In Europe, despite the continued luxury goods slump, Grand Seiko remained flat year-over-year while Seiko Global Brands performed well in major countries.
The group's mid- to long-term goal is for Grand Seiko to achieve a "top-10 position among global luxury watch brands," while Seiko Global Brands aims to "achieve a leading share in the global mid-priced watch segment."
Citizen: 10% Growth, 38% Operating Profit Increase
Citizen Watch Co. (excluding Bulova's Frederique Constant, Alpina, La Joux-Perret, Angelus, and Arnold & Son brands) reported watch division sales at JPY 197 billion (approximately EUR 1.07 billion), with 10% revenue growth and a remarkable 38% increase in operating profit.
Domestic demand recovery offset declines in inbound tourist sales for Citizen, while Bulova remained strong in its core North American market. In Europe, mechanical watches remained popular, with steady performance in Italy and France.
Japanese vs. Swiss: A Shifting Landscape
These results are particularly noteworthy when compared to the Swiss watch industry's performance. According to the Swiss Federation of the Watch Industry, Swiss watch exports declined by 1.7% in 2025. While a handful of ultra-luxury Swiss brands continue to thrive, the broader market faces headwinds from reduced consumer spending and geopolitical uncertainty.
Citizen and Seiko, benefiting from their own internal ecosystems and positioned far from European market dynamics, have carved out increasingly strong positions in the accessible and mid-range segments — areas where Swiss competitors have historically struggled to compete on value.
Frequently Asked Questions
How do Citizen and Seiko's sales compare to Swiss brands?
Both companies now report revenues comparable to lower-tier Swiss luxury brands like Longines. However, they achieve these numbers through significantly higher production volumes rather than premium pricing.
What drove Seiko's 27% growth?
Strong domestic sales in Japan (boosted by tourism from a favorable exchange rate) and robust growth in the US market were the primary drivers, with Grand Seiko and Prospex/Presage collections leading the gains.
Is the Japanese watch industry overtaking Switzerland?
Not necessarily "overtaking," but the two industries are on diverging trajectories. While Swiss exports declined in 2025, both Citizen and Seiko grew — suggesting increasing global demand for quality Japanese watches at accessible price points.
Sources: Monochrome Watches
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