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Japan Update

(March 2011) posted on Thu Mar 17, 2011

Industry companies with ties to Japan work to respond to earthquake crisis.

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In a March 16 press release, Pat Ryan, general manager of Seiko Instruments USA - Infotech Division, indicates that, “Overall, Seiko Instruments and Seiko I Infotech employees are all accounted for and okay. However, we do have employees with extended family in the affected, northern areas and these employees are obviously distraught by the events of the last few days. Our company office buildings, engineering facilities, and manufacturing sites are not in the areas directly affected by the tsunami. While many of our buildings have suffered some minor earthquake damage, such as cracks from the severe shaking, there was no major damage done to any of our infrastructure and we are in daily communication with our key personnel at SIIT.”

“From an inventory standpoint, our Los Angeles and San Diego warehouses have approximately 30 to 60 days of inventory, and we have another about 30 days of inventory in route from Japan by sea. So there is no immediate threat of inventory shortages of any product or part.”

Ryan goes on to say, “However, Tokyo and other areas where our businesses are located, are currently under two other threats, which may or may not affect our business in the longer term. The threat of rolling electrical blackouts and the threat of worsening radiation leakage has kept our businesses closed for the last few days. The current plan is to have our employees return to work on Thursday of this week, but this will be a day-to-day decision based on the situation with electricity (for our building and for the train systems), and the situation with the nuclear power plants, radiation levels in Tokyo, and the prevailing winds.”

“If we see a possibility of product shortages in the future, we will give you ample warning and take steps to provide equal accessibility for these products for all partners. But at this time, we do not foresee any shortages during the next 2 months.”

“Please continue to keep our employees and their extended families in Japan in your thoughts and prayers. As we all know, the situation is quite severe and we wish Japan and our employees the very best.”

In a March 17 press release, Seiko Holdings Corporation announced it would donate 20 million Japanese yen to help relief and recovery efforts in communities affected, plus sponsor matching gift programs and match charitable contributions made by its employees.

In that same release, the company stated: “Seiko I Infotech Inc. has confirmed the safety of our employees and their families at all of our factories and offices around Japan including the Sendai sales office in the Tohoku region. In addition, Seiko I Infotech Inc. has also confirmed that fortunately the engineering and manufacturing facilities were not affected by this earthquake or Tsunami, and we are able to keep supplying our products as same as before.”