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Seiko

Seiko – Timeless business venture of Kintaro Hattori

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The leading Japanese firm Seiko is best to recognize for its optical products, electronic devices, and especially the variety of watches. In fact, the watches/clocks of Seiko had been used as official timekeepers in many intercontinental level sports events including Olympic. As well, the Grand Seiko watch is one of the most loved brands among watch lovers. This watch is considered a tough competitor of swiss watches, those rule the market over the decade. All the credit goes to Kintaro Hattori, a founder, and a top Japanese businessman who set up Seiko as a small shop with a vision to launch a Japanese watch in the market. However, the firm becomes a holding company since 2001.

About the company

 It is a famous Japanese firm that had been started as a watch and jewelry shop. Now, the firm also worked as electronics products manufacture that produces electronics devices, optical products, semiconductors, etc. However, Seiko’s main and long-time business is watching and clocks manufacturing and selling. The actual manufacturing of Seiko watches started in 1892. Before that, in 1881, the founder Hattori established a shop to sell watches and jewelry which later on converted into a company. As a matter of fact, the name of company Seiko is a Japanese word meaning success. As per the name, the soon firm achieved success and became one of the leading brands in the market.

The backstory of foundation

 A 13 years old Hattori saw a clock shop during his traineeship. That time, he got to know that the clock shop offers income in two ways. One way to get money by selling and the other way is to repair the watches. 

About founder- Kintaro Hattori

In 1881, at the time when Kintaro Hattori was 21 years old, he set up clocks repairing and selling shop in Tokyo. After a few years, he explores the business and established a factory named Seikosha. Sooner or later it is renamed as Seiko.

He was born in Kyobashi, Tokyo in 1860. During his teenage, he started working at sundries wholesaler as an intern. After that, Hattori worked at a clock shop where he learns the tactics to sell and also learned clock repairing. Kintaro successfully runs Seiko till his death in 1934. The Japanese pioneer who launched the Japanese wristwatch brand in competition with the famous Swiss died when he was 73.

Best of the Seiko

In 1960, the next and all-time popular model Grand Seiko was launched. It was the next version of one more famous watch Crown. 

Seiko is known for the quartz watch model called Astron. This model was introduced in 1969 which also became the first quartz watch on earth.

Thereafter, the company launched a quartz chronograph for the first time ever. Seiko didn’t stop here and further launched automatic quartz for the first time. 

After a huge success, the firm started a joint manufacturing unit with Orient and so established in 1985.

However, these all watch models were again launched in 1991 under the name Seiko kinetic.  

Official timekeeper

Seiko made in the list of best watchmakers with its one more achievement. It has been the official timekeeper in several international sports events. The FIFA World Cup, Olympics, and now signed an agreement with IAAF for being the official timekeeper in the next IAAF World Championships.

Bottom line 

A Japanese company Seiko is recognized for launching leading watch brands in the market. Especially, it is best known for the exclusively made wristwatches. Apart from manufacturing watches, the firm is also known as a one-stop solution for clock and watches. It means, Seiko produces all the parts of watches like rock crystal oscillators, sensors, LCDs. As well, one can get the lubricants needed for watches. 

Seiko is continuing its legacy, dedication, and perfection with its plus 130 years of innovation. It has become a name that is known to everyone and competing with the best in business. In 2001, , the firm becomes a holding company since 2001. The company has definitely come a long way from launching the basic product to the best one. We can definitely say that Seiko is a timeless business venture of K. Hattori. Something that you learn in life at earlier stage or later, always helps you to build big dream for yourself.

TDK CORPORATION

TDK CORPORATION- ONE OF THE LEADING ELECTRONIC COMPANIES IN JAPAN

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Many Japanese companies have transformed from small scale industries to business tycoons over time. The quality of work and employees, both are highly appreciable in Japan. Moreover, the country has made some exceptional developments and pushed its threshold over the past century. With electronics and telecommunication reaching higher potential, a Japanese company, TDK Corporation unleashed its true power.

The establishment of TDK Corporation took place back in 1935 in Shiba-Ku, Tokyo city. The company developed soon after Yogoro Kato and Takeshi Takei invented the magnetic material, Ferrite. So, TDK Corporation received the patent for producing the world’s first ferrite cores and that’s how the journey began. Currently, the TDK headquarters are based on Nihonbashi, Tokyo. And, the company’s main products are electronic components, power supplies, and sensors.

The Founding History of TDK Corporation

In 1930, the invention of the ferrous magnetic material, ferrite took place. And, after a few years, the launch of the company, Tokyo Denki Kagaku Kogyo K. K. (Tokyo Electric Chemical Industry Co. Ltd) took place. The company received the patent of it and thus started the production of ferrite. The CRT tubes of television used the ferrite for deflection in yoke cores. Thus, the production increased and common people started buying televisions.

Expansion through the early 1900s

In 1937, Tokyo established the Kamata Plant as with the demand for colored movies, the demand for ferrite ores increased. After a couple of years, the Japanese Naval Institute of Technology expressed its interest in the product for use in marine radios. So, another plant was constructed in Hirasawa-Cho. In April 1945, the production came to a halt due to an accident in the Kamata plant.

And, when it restarted late in the same year, the company showed interest in the modern communication industry. In the late 1940s transistors came into the market and the production increased for IF transformer cores. In 1951, the company also started the production of ceramic capacitors. For the next few years, new types of capacitors were designed for some of the world’s new inventions. This led to the establishment of another plant for the company for producing hard disk drives.

Growth in the international market 

In 1961, the company was listed on the Tokyo Stock Exchange for the first time. The company made a breakthrough when it introduced “Synchro Cassette Tapes” in 1966. Everyone loves music and with this new product, TDK grabbed everyone’s attention. During this time, TDK expanded its business to the USA and established an office in New York. Also, in 1968 the world witnessed the development of TDK Taiwan Corporation followed by entering the European market in 1970.

For the next decade, many new products were launched including multilayer ceramic chip capacitors, switching power supplies, multilayer chip inductors, etc. With every new invention in the world, a product of TDK rolled out in the market. In 1982, the company got listed on the New York Stock Exchange and the next year the company’s name changed to TDK Corporation. Before the company rushed into a new century, it opened a subsidiary in China and acquired SAE Magnetics, a Hong Kong-based company.

The digital era

In 2000, the company acquired Headway Technologies, a company based in the United States. The company also acquired a polymer lithium battery manufacturing company, Amperex Technology in 2005. The same year, TDK also acquired the Lambda Power Division, a part of a London-based business. After a couple of years, Imation Corporation acquired the sales department of TDK brand recording media.

In 2008, the company acquired a German-based company, EPCOS. The next decade started with TDK implementing its Environmental Action 2020 Plan. In 2014, TDK stepped back from the recording media business. And, the first product of TDK, that is, ferrite was recognized as one of the top 100 innovations in Japan after the war.

2016 witnessed the acquisition of two companies, namely Micronas Semiconductor Holdings AG and Hutchinson Technology Inc. The company came into a joint venture with Qualcomm in 2017. Faraday Semi LLC is the latest acquisition of TDK Corporation. The company also has its museum which reopened in 2017 after renewal.

Future Plans

The company is currently focusing on automotive products and wants to decrease the sale of mobile phones. Shigenao Ishiguro, CEO, and President of TDK Corporation said that it is not very productive to invest in a product that has already reached a saturation point of innovation. The company is currently working on several automotive projects especially focusing on magnetic sensors.

coronavirus

Does India is planning to backstop its growing electronics sector by arranging to airlift components from China?

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Highlights:

1. Manufacturing of Electronics products, especially smartphones assembly is a golden chance to improve India’s otherwise fading economy.

2. Two of the officials reported to Reuters that the Technology ministry has asked electronics and smartphone industry lobby groups to draw up a list of components made in China which then can be airlifted.

Coronavirus has been declared a global emergency, which took the lives of many people all over the world, especially in China. Recently, many smartphone companies denied participation at Mobile World Congress 2020 arranged in Feb due to Coronavirus Outbreak. However, India is planning to backstop its growing electronics sector by arranging to airlift components from China, three government officials said, as it tries to contain the fallout from the coronavirus crisis in China.

Emergency Airlift plan

India’s federal technology ministry has asked electronics and smartphone industry lobby groups to draw up a list of components made in China which then can be airlifted, two of the officials said.

After an extended shutdown due to the Coronavirus outbreak, China is slowly getting back to work. But the country is still facing a range of products and logistics delays. Electronics manufacturing such as smartphone assembly is the bright hope for India’s otherwise flagging economy. However, India is still relying on China for basic components required for the assembly of smartphones. Includes, display screens, camera modules, etc. 

The emergency airlift plans highlight the global supply chains’ interconnected nature as well, continued dependence on China for key goods even as some manufacturers prompted in some cases by the US-China trade war move to build up capacity outside of China. On the basis of this, other industries are exploring airfreight options too.

India’s role in Emergency Airlift plan

The auto industry in India is highly depending upon China for assembly parts like electronic components, fuel injectors, and pressure sensors.

As per the reports, the Indian Automotive Component Manufacturers Association has reached out to its members so that parts are in short supply will assess and can potentially be air-lifted. Also, the government adviser with direct knowledge of the matter reported that India’s embassy in China is coordinating an airlift of drug ingredients from China.

As per one of the government sources, “For the electronics and smartphone components, the technology ministry is in touch with aviation carriers and air freighters and they’ve been connected with the industry”.

“The airlifting of components from the Chinese cities of Guangzhou and Shanghai is one option being discussed”, the official said. However, the sources did not clear anything about when the airlifting might begin. The aviation ministry also did not immediately respond to a request for comment.

Import of Chinese goods has been lower down

Reuters has reported, Lack of truck drivers, a proliferation of road checkpoints and a shortage of workers at Chinese ports have slowed shipments even for parts that are still being produced. Also, Air cargo firms have reduced services in response to crew health concerns and uncertain demand.

All aware that China is the biggest trading partner of India, but imports of Chinese goods in India contracted in February to their lowest levels in nearly four years, trade ministry data reviewed by Reuters showed.

Scrambling in India

Indian Smartphone makers thus far have largely weathered the virus crisis, partly because they had made up inventories of Chinese-made parts to cover the Lunar New Year holiday period when factories in China shut down. But those stocks could dry up soon.

The co-founder of homegrown smartphone maker Lava Mr. S.N. Rai said, “the supply of some components had resumed, but the pace of production at his factory on the outskirts of New Delhi could soon slow down”.

Rai reported to Reuters, “The period between March 10 and March 20 is going to be very tough, in the absence of supplies, we might have to cut one or two of the three eight-hour shifts we have daily”.

Others are also scrambling for components

As per to two industry sources, the India units of contract manufacturers Wistron Corp, which makes some of Apple Inc’s lower-priced iPhones, and Flex Ltd have, through an industry body, asked for government help in securing components including camera modules and displays from China. However, Wistron and Flex did not immediately respond to Reuters’ requests for comment.

Oppo, a Chinese smartphone maker as well as Korean Samsung Electronics did not respond to requests seeking comment on their supply chains.

Coronavirus outbreak brought the uncertainty in Global Economy, especially the economy of China and developing countries like India. The global emergency affected the automotive sector of India. Also, now it is affecting the Electronics Manufacturing Industry of the country, which is the bright hope for the flagging economy of India. Let’s Hope, Coronavirus outbreak recedes soon so that all sectors reinstate its potential.

Konosuke Matsushita: The Founder & the Former CEO of Panasonic Corporation

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The story of the industrialist and the famous Japanese God of Management, Konosuke Matsushita, is nothing more than a roller coaster ride. The Japanese entrepreneur went through a lot of struggle and faced all type of conflicts, but, at last, emerged as the greatest leader, with its largest Japanese consumer electronics company Panasonic. The writer of four million sold copies of the Developing A Road To Peace And Happiness Through Prosperity and the inspiration of millions, Konosuke Matsushita was a true entrepreneur.

Early Life

Matsushita was born on November 27, 1894, in a Japanese village of Wasa. He belonged to an affluent family. His father was a landlord, primarily owned huge farmlands. Due to some bad investments, soon, the family went through a huge loss and had to give up all of their property. The family moved to a three bedroom apartment in the city and started working for their living. Matsushita received a standard schooling in the city.

Career

With the bad financial conditions, Matsushita could not continue his schooling and started working at a bicycle shop. The Shop went out of business, and his family sent him to Osaka, to do an apprenticeship at a hibachi store. Unfortunately, the store got shut within a year of his joining, and he had to look for another job. At the age of 15, he started working at Osaka Electric Light Company, an electrical utility company. During his job with Osaka Electric, he was promoted several times. After working for five long years with the company, he decided to take up another job, where he could also complete his education. But his father advised him to continue the same job and gain more experience in the field.

During his work at Osaka Electric Light Company, he had gained enough knowledge and experience, so that he invented a new and improved light socket in his spare time. He also introduced the idea to his boss, but his boss was not sure about the potential of the invention.

Founding Panasonic

At the age of 22, Matsushita got promoted as the electrical inspector of the company. In 1917, he decided to leave Osaka Electric and start his own firm, with the help of his wife and brother-in-law. Under the name of his company, he started producing the samples of his newly invented sockets, and approached various wholesalers, to sell his product. But, the new idea could not impress the wholesalers. This caused him a huge loss, and his employees also left him. With his wife and brother-in-law, he continued working on the samples and received his first huge order of thousand insulator plates for electric fans. Being a better and an inexpensive product it gained popularity and wholesalers started trading the product and eventually, Matsushita launched Matsushita Electric Housewares Manufacturing Works on 7 March 1918, that later became Panasonic in future.

Konosuke Matsushita
Image Source: entrepreneurhalloffame.com

In the mid-1920s, Matsushita came with the idea of battery lamps for bicycles, as at the time, the bicycles used to have oil and wax lamps, that could be lighted only for 3 hours.

With the time, Matsushita became more focused on the marketing of the products, that proved to be a big contribution in raising the sales of his company. By 1929, he managed to establish his company among other Japan’s electrical manufacturing companies and opened a few sales branches in some other places across the country.

In the beginning, he produced the products with brand name National and developed many affordable electric appliances. Those appliances included electric iron, battery lamps, and three-tube model radio, etc. In 1940, during the second world war, Matsushita was forced to sign government military contracts. Those contracts helped him establish Matsushita Shipbuilding Company and the Matsushita Airplane Company. Although with these big achievements, due to the war, Matsushita lost 32 of his manufacturing factories and sales offices situated in the various parts of the country.

In 1951, during his tour to the USA, he realised that in order to help Japan recover from all the losses of the second world war, adoption of advanced Western technology was essential. In 1952, Matsushita signed a contract with Philips of the Netherlands. The company saw huge growth between the time of 1950 to 1973 and introduced new home appliances to the Japanese customers. In 1973, he retired from all of his duties for Panasonic.

Personal Life

Matsushita was married to Mumeno Iue, who was a big support for him during his struggle period. Matsushita was always focussed on economic growth of people and has published 44 books based on his social and commercial philosophies. He received the Grand Cordon of the Order of the Paulownia Flowers in 1987. At the age of 94, on 27 April 1989, he died from pneumonia.

Story of Lee Byung-chul- Founder of Samsung

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An entrepreneur is a person who has a vision that could change millions of lives and help the country grow economically at the same time. This vision brings creative ideas and creates employment opportunities helping the society prosper.

Countries like USA, China, India, South Korea and many more have made a significant contribution to the global industrial sector. When it comes to electronics and plastic market, China tops the list, top apparel, software and hardware brands are from US and South Korea is famous for electronics and automobiles industry. One man from South Korea changed the entire electronics and smartphones market when his company called Samsung came to the market with their world changing technology. The founder Lee Byung-chul’s Samsung has seen many crests and troughs all these years and today stands as a symbol of growth, innovation, and prosperity.

Early Life
Born on 12th February, 1910 in Uiryeong County in South Korea Lee was the only son of a wealthy family. His family was of landowners and left behind huge wealth for him to inherit. Chull attended Waseda University in Tokyo but left his degree incomplete. Initially, he used his inherited wealth to start a rice mill. Although he dedicated himself in this first business it failed to float and sunk without generating any major profits.
Lee Byung-chul
After the failure of his first business Chul established an export business in Daegu on 1st March, 1938 and named the company Samsung Trading Co. The company exported varieties of goods and eatables like fish, vegetables, and fruits to the regions of China. The company saw a major boom in growth as it was supplying goods throughout Korea and even to other countries by 1945. The company was then shifted to Seoul in 1947. Samsung Trading Co. was considered to be one of the ten largest trading companies during that time. But, Chul had to face another difficulty. This time, the war. As the war broke out Chul had to shift his company to a safer location in Busan around 1950.

But this shifting came as a boon for Chul. The massive influx of US army troops and the military equipment boosted his trucking business for the next year and a half. Chul also started a sugar refinery which saw the light of success quite early. After the war, he went on to set up a wool factory in 1954 in Daegu which later became the largest wool factory in the country. As the business was growing Chul ventured into various other sectors like finance, insurance, retail, and security.

Chul had a strong belief in industrialization and wanted Samsung group to become leader in every sector. It was in the 1960s that Samsung ventured into electronics industry to take over the market just like other sectors. Samsung focused on creating innovative products and soon the company released their first product – a black and white television. By the mid and late 1960s Samsung already had six divisions focused on departments like semiconductors, telecommunications, hardware, etc.

Success in the Electronics Business
In 1980, Samsung acquired Hanguk Jeonja Tongsin, a major company in telecommunications. This was the same year when the company had its own electronics division under Samsung Electronics Co., Ltd. unit. The company then started producing telephones, fax machines, and various other electronic devices on a large-scale.

The founder of Samsung, Lee Byung Chul, died on 19th November, 1987 in Seoul, South Korea. But the company kept following his philosophy of large-scale expansion. The company expanded as never before setting up their plants in New York, Texas, London, etc. Samsung’s construction company garnered major projects including that of the Burj Khalifa in Malaysia.

Major Successes
Samsung raced on the top of the list as the number one memory chip production company in the whole world in 1992. Soon it also acquired second position, just behind Intel, in the chip-making industry. The year of 1995 came with a huge success as Samsung made first LCD screen revolutionizing the television hardware industry.

Samsung accounts for 15% of South Korea’s GDP (as of 2012). In the same year the company’s total revenue was a whopping $265 billion and earned profits of $26 billion. Samsung has employed over 425,000 people providing a good life for people all over the world.