ABSTRACT
The growth of the Japanese watch industry after 1945 has been presented as the consequence of a twofold strategy of technological development and commercial expansion realized in the scope of the industry as a whole. However, the success of Japanese watchmakers in world markets results also (and mostly) from the existence of competitive fi rms. Thus, it is necessary to introduce now the different actors of this success story, emphasizing the issues of internal organization, governance, and capital funding.
