TOKYO - (Business Wire) Oki Electric Industry Co., Ltd. (TOKYO:6703) today announced that the company
’s Board of Directors has approved the spin-off of its telecommunications business through an incorporation-type company split and the establishment of OKI Networks Co., Ltd., effective October 1, 2008. By splitting off its telecom division, excluding legacy-type business, OKI aims to expand its telecom business by enhancing product development to compete in the rapidly changing global network market.
OKI has been offering telecom products to Japan’s major telecom carriers and to the enterprise network market. However, in recent years, as networks migrate to IP and the use of NGN-based ubiquitous networks accelerates, the business environment has been changing rapidly and globally with fiercer competition.
“In order to become a winner in this competitive network market and further expand our telecom business, we understand that it is essential to further increase flexibility in management and establish a business structure that can respond to the changing market in a more agile and timely manner. Thus, we decided to establish OKI Networks,” said Masayoshi Matsushita, Senior Vice President at OKI. “In addition, to expand into new markets, we believe it is important to strengthen our marketing skills and at an early stage, establish a market-driven business model that is flexible and responsive to the market changes.”
OKI Networks aims to offer advanced services seamlessly connecting telecom networks with enterprise networks based on NGN. OKI will continue to expand its telecom business by creating new products with an eye on the global market. This will be done by leveraging its strengths in highly reliable network technology, network integration technology, offering a full service from IP network technology, design through to maintenance, and eSound®, eVideo™ etc. to enable high quality voice and video over IP.
About OKI Networks Co., Ltd.
| Address: | | 4-10-16 Shibaura Minato-ku Tokyo, Japan |
| | |
| Date of | | |
| establishment: | | October 1, 2008 |
| | |
| Capital: | | 490 million yen (100% owned by OKI Electric Industry) |
| | |
| President: | | Masasuke Kishi |
| | |
| Number of | | |
| employees: | | Approx. 650 |
| | |
| Business: | | Planning, developing, and selling electronic |
| | communication equipment and systems |
About Oki Electric Industry Co., Ltd.
Founded in 1881, Oki Electric Industry Co., Ltd. is Japan's first telecommunications manufacturer, with its headquarters in Tokyo, Japan. OKI provides top-quality products, technologies and solutions to its customers through its info-telecom system business, semiconductor business and printer business. All three businesses function as a collective force to create exciting new products and technologies that satisfy a spectrum of customer needs in various markets. Visit OKI's global web site at http://www.oki.com/.
Notes:
- eSound is a registered trademark of Oki Electric Industry Co., Ltd. in Japan.
- eVideo is a trademark of Oki Electric Industry Co., Ltd. in Japan.
- Names of companies and products are trademarks or registered trademarks of the respective companies and organizations.
Oki Electric Industry Co., Ltd.
For Europe and Americas:
Naomi Takeuchi, +1-408-737-6279
Public Relations Division
press@oki.com
For Asia and Other Areas:
Akiko Horiguchi, +81-3-5403-1247
Public Relations Division
press@oki.com
