The 2018 Olympic bronze medalist advanced to the final four on a tiebreaker after Britain, Japan and Canada finished with identical records.
Slovakia tied it late in regulation, survived a 10-minute 3-on-3 overtime, then won it in a shootout to advance to the semifinals.
Sochi gold medalist Joergen Graabak and fellow Norwegian Jens Luraas Oftebro took the lead from Watabe and held on for the top two spots.
“I really risked everything in the second run because I wanted not just the medal, I wanted the gold medal,” the Swiss champion said.
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