not require battery replacement. This mechanism was adopted as Seiko's core movement and later renamed "A.G.S.". (Automatic Generating System). In 1991, to increase popularity, the watches were relaunched under the name "Seiko Kinetic". Recent development In 1998, Grand Seiko was released with the first new mechanical movement in 20 years. In 1999, Seiko launched Spring Drive, the world's first mechanical wristwatch with the accuracy of quartz. In 2004, the Astron, launched in 1969, was selected as an IEEE milestone. In the same year, Seiko began operating the Shizukuishi Watch Studio, which specializes in high-end watches. In 2005, Seiko launched the world's first solar-powered analog watch that adjusts its accuracy by receiving three radio signals from Japan, Germany, and the United States. In 2006, Seiko launched the world's first wristwatch based on microcapsule E-ink technology. This watch was the first Seiko watch to win an award at the Grand Prix de Genève for its innovative ability to bend the display part, in addition to providing more contrast and a wider viewing angle than conventional LCD displays. In 2010, Seiko launched the world's first solar radio-controlled digital watch based on the active matrix EPD system, advancing the expression of information in digital watches. In 2012, Seiko launched the world's first GPS solar watch, the Seiko Astron GPS Solar. Seiko positioned this watch as the second revolutionary wristwatch after the Astron, which was launched in 1969, and described that it had the ultimate practical functionality, being able to instantly display extremely accurate time anywhere in the world and working as long as there is light. Seiko's low power consumption GPS receiver contributed to the practical application of this watch. Seiko Group K. Hattori & Co. (currently Seiko Group Corporation) was one of the three core companies of the former Seiko Group. Seiko Group consisted of K. Hattori (SEIKO), Daini Seikosha (currently Seiko Instruments Inc., SII), and Suwa Seikosha (currently Seiko Epson Corporation, EPSON). Although they had some common shareholders, including the key members of the Hattori family (posterity of Kintarō Hattori), the three companies in the group were not affiliated; they were managed and operated independently. On January 26, 2009, Seiko Holdings and Seiko Instruments announced the two companies would merge on October 1, 2009, through a share swap. Seiko Instruments became a wholly owned subsidiary of Seiko Holdings as of October 1, 2009. On October 1, 2022, Seiko Holdings was renamed Seiko