Oki Electric seals split deal with Hitachi unit to form ATM joint venture

OKI Electric Industry Company ( (JP:6703) ) has shared an update.

Oki Electric Industry has signed an absorption-type company split agreement with Hitachi Channel Solutions as part of a previously announced plan to integrate their automated equipment businesses, including ATMs, into a joint venture. The structure will see the new venture, based on Hitachi Channel Solutions, handle development and production, with the transaction scheduled to take effect around October 1, 2026, subject to regulatory clearances and other conditions.

Under the agreement, the joint venture will issue new shares to Oki as consideration for the transferred business, and Hitachi will also transfer additional shares to Oki for cash, resulting in Oki holding 60% of the venture. This move strengthens Oki’s control over the integrated ATM and automated equipment operations, potentially enhancing its competitive position in the global transaction systems market while streamlining resources and aligning with Hitachi on product development and production efficiencies.