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.
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Address:
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4-10-16 Shibaura Minato-ku Tokyo, Japan
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Date of
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establishment:
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October 1, 2008
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Capital:
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490 million yen (100% owned by OKI Electric Industry)
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President:
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Masasuke Kishi
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Number of
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employees:
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Approx. 650
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Business:
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Planning, developing, and selling electronic
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communication equipment and systems
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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:
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eSound is a registered trademark of Oki Electric Industry Co., Ltd. in
Japan.
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eVideo is a trademark of Oki Electric Industry Co., Ltd. in Japan.
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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
