ŌTSUKA LŌTEC | NO.5 KAI, A RARE BRAND NEW STAINLESS STEEL SKELETONISED WRISTWATCH WITH WANDERING HOURS, CIRCA 2025 Calibre: Miyota 90S5 and in-house satellite hour module, automatic, signed Dial: Skeletonised, signed  Case: 40.5mm, stainless steel, screw down case back, signed  Strap: Maker's leather, stainless steel buckle, signed Accompaniments: Maker's presentation box, warranty card, instruction manual, greeting card and cleaning cloth Ōtsuka Lōtec | No.5 Kai，罕有全新精鋼自動上弦鏤空腕錶，配衛星式時間顯示，年份約2025。附原廠錶盒、服務保證卡、說明書、賀卡及擦拭布。 Footnotes: The Ōtsuka Lōtec No.5 Kai represents a bold evolution in independent Japanese watchmaking, masterfully crafted by self-taught visionary Jiro Katayama. This striking timepiece reimagines the brand's signature nonconformist aesthetic with a groundbreaking satellite (wandering) hours display - three rotating cruciform discs, each bearing four-hour numerals, orbit a central carousel while a retrograde minute track arcs across the dial for intuitive, cuff-friendly legibility. Housed in a sleek 40.5mm brushed stainless steel case (just 7.6mm thick at the edges, rising to 12.2mm with its dramatically domed box sapphire crystal), the No.5 Kai blends industrial grit with refined minimalism. Powered by a Miyota 90S5 automatic base enhanced by Katayama's in-house module, it incorporates technical marvels like two precision Japanese ball bearings from MinebeaMitsumi - including the world's smallest at 1.5mm diameter for the seconds disc and a custom unit for flawless hour transitions, all smoothed by dual reduction gears to eliminate jitter. What cements the No.5 Kai's status as a collector's grail is its extreme rarity. True to Ōtsuka Lōtec's philosophy of deliberate scarcity - with the entire brand producing roughly 500 pieces across nearly two decades - this model is sold exclusively in Japan via periodic online lotteries (raffles) on the brand's website, often releasing only a handful at a time. International buyers face near-impossible barriers, fueling a fervent secondary market where examples command multiples of the original retail price. The Ōtsuka Lōtec No.5 Kai, like the current brand-new example with all its original accessories, stands apart: an audacious fusion of mechanical ingenuity, retro-futuristic design, and elusive JDM exclusivity - a rare jewel coveted by those who chase true independent horological artistry. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing