Presumably at the 2 and 10 o'clock positions it maximizes the display of the other parts of the dial and its complications - such as a day-date window, moon phase window, or chronograph (stopwatch).
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Setting time on Sharp 3163. Hold "Reset" in 2 seconds. The seconds number should blink. Use ST/STP to change numbers. Use 'Mode' to change what number you change (e.g. seconds, hours, minutes, year, month, day-which ever blinks). Press 'Reset' again to take watch out of set mode. To set alarm, use 'Mode' to get to "AL" (bottom left of display). Use 'reset' to put into set mode and ST/STP to change numbers, Use Mode to change between hours and minutes. Press 'Reset' to take watch out of set mode. To set T2, use 'Mode' to get to T2, press 'Reset' to put into set mode; hours should blink. Use 'Mode' to change between hours and minutes (seconds are same as for main time so cannot be set separately for T2). Press 'Reset' again to take watch out of set mode.
To set the time, first press the "mode" button until you reach the section for setting time. At that point, select the time you want and exit.