A good deal a Seiko Turtle diver's watch. This model features the blue and red "Pepsi" bezel.
Note: This is the "J" model and is Made in Japan (this is written at the bottom of the dial). This is different to, and usually comes at a price premium to, the "K" model which is made in Malaysia.
The Turtle is a popular model in the Seiko diver series, and a homage to Seiko classic divers from the 1970s and 1980s. It contains Seiko's workhorse 4R36 automatic movement. Case is 45mm, however given the almost square shape of the case it wears smaller and can be suitable for smaller wrists (unusual for a diver).
A good review of the Turtle can be seen here.
The non-Japanese "K" model is currently selling in Seiko's Melbourne boutique for $699.
The coupon code gives an additional 5% off to an already good price.
Highly recommend trying things on in the boutique. Clueless staff and crap prices but being able to see watched in person makes a big difference.