Oki Electric Industry Co., Ltd. and Hitachi, Ltd., along with Hitachi Channel Solutions, Corp., have announced an agreement to integrate their automated equipment businesses, including ATMs, through a joint venture. The integration aims to enhance service offerings and expand customer touchpoints in financial, retail, and transportation markets.
Under the agreement, OKI will transfer its automated equipment development and production business to Hitachi Channel Solutions, a subsidiary of Hitachi, through an absorption-type split. OKI will then acquire a 60% ownership stake in the newly formed joint venture, with Hitachi holding the remaining 40%.
The joint venture plans to leverage the combined expertise of OKI and Hitachi Channel Solutions in product development and manufacturing to create high-value, reliable products. The companies aim to provide continuous and stable ATM supplies, which are considered essential social infrastructure.
Despite the business integration, OKI and Hitachi will continue their existing sales frameworks for ATM-related equipment and services. The joint venture is expected to commence operations on October 1, 2026, pending approval from the Japan Fair Trade Commission and other authorities.
The collaboration is in response to industry shifts driven by the rise of cashless payments, an aging population, and the demand for more advanced ATM functionalities. The joint venture will focus on expanding its footprint globally, with particular emphasis on growth markets in ASEAN, India, North America, and the Middle East and Africa.
OKI and Hitachi Channel Solutions have a history of innovation in the ATM industry, with OKI having developed the first cash-recycling ATM in 1982. The companies plan to integrate their technological capabilities and operational frameworks to enhance customer value through advanced solutions and services.
In the future, the joint venture aims to link its product and service data with Hitachi's Lumada business to support digital transformation initiatives for financial institutions. By utilizing AI-driven analysis, the companies hope to create new services and transform customer operations.