This is Lithium M200 from SANYO (SANYO Electric Co.) from the 1980s.
I have been buying SANYO watches whenever I find them. (As long as they are cheap...).
This model is also simple, but the design attracts me for some reason.

I am not sure if this model is rare or not, because SANYO wristwatches were only on the market for a period of time from the late 1970s to the early 1980s, and there is very little information about them in general. I think it is a rare model.

Like the SANYO Lithium D530 introduced previously, this model uses a special form of SANYO lithium battery called CR736-2 (called a pill shaped battery).
Since CR736-2 is no longer available, two SR716SW button cell batteries are used in this model.

Digital wristwatches of early 1980s, even relatively inexpensive models, are solidly made with all-stainless steel bodies and belts.
This model also has some rust around the back cover, but it is in such good condition that it is hard to believe that it has been 40 years since its release.
Compared to recent inexpensive digital watches, the durability of digital watches of this era seems to be much higher.

This model has only an alarm function and a tiny light, but no stopwatch function.
I can't deny that it is a bit poor even for a digital wristwatch of 1980s, but nowadays a stopwatch function is also available on smartphones, so I think it will be no problem.

Incidentally, smartphones also have a watch function, but... I am definitely a wristwatch person!