Seiko was founded in 1881, when Kintarō Hattori opened a watch and jewelry shop called "K. Hattori". Seiko is a Japanese word meaning "exquisite" or "success". The first watches produced under the Seiko brand appeared in 1924. In 1969, Seiko introduced the Astron, the world's first production quartz watch; when it was introduced, it cost the same as a medium-sized car. The brand later went on to introduce the first quartz chronograph. In the late 1980s, Seiko produced the first Kinetic watch that combined the self-energizing attributes of an automatic watch with quartz accuracy. The watch is entirely powered by its movement in everyday wear.