We were all shocked by the largest earthquake ever recorded in Japan history on March 11. We believe that the industry is deeply worried about the influence and impact generated from this disaster including the production output and especially the supply of Japan watch movements. Under such circumstances, last week HKWMA has sent letters to two major suppliers of Japan watch movement, Seiko and Citizen to express our concern about the worries of shortage of watch movement’s supply. The production factories have not been seriously damaged, however the production output is suspended temporarily due to the power shortage. Hopefully the situation will resume to normal gradually.
The worries of members are understandable and we shall follow up with the status of movements supply and report accordingly. Meanwhile, as the Basel Fair 2011 will be held this week, our representatives will meet with the Japan Clock and Watch Association to express our views and concerns, and further we are looking forward to acquire more related information and report accordingly. Thank you very much for your kind attention. 」
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