Seiko Instruments USA, Inc.

Seiko Instruments and Its Employees in Japan are Safe

Seiko general manager has issued a statement in response to inquiries.

Pat Ryan, general manager, Seiko Instruments USA - Infotech Division, has issued a statement in response to inquiries about the wellbeing of the company and its employees in the wake of the devastating earthquake and tsunami that Japan experienced.

"Over the last few days, we have been bombarded with emails and phone messages regarding the earthquake and tsunami in Japan. First and foremost, we truly appreciate your concern and well wishes for our company and our employees.

"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 Tsunami. So from this perspective, we are relatively lucky. 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 - 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.

"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 (Wednesday night for us), but again, 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. Again we will keep you posted as the situation changes.

"In the meantime, 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."