TOKYO- Oki Electric Industry Co., Ltd., Hitachi, Ltd., and Hitachi Channel Solutions, Corp. (“Hitachi Channel Solutions”), today announced that we have agreed to enter into an agreement (“Integration Agreement”) regarding the business integration of their automated equipment businesses, including ATMs (“Business Integration”), as well as a shareholders’ agreement regarding the joint venture company established for this Business Integration (“Joint Venture Company”).
Pursuant to the Integration Agreement, OKI will transfer its business responsible for the development and production of automated equipment, including ATMs, to Hitachi Channel Solutions – a wholly-owned subsidiary of Hitachi – through the Absorption-type Split. Subsequently, OKI will acquire a portion of Hitachi Channel Solutions’ shares, thereby establishing it as a joint venture. The planned ownership ratio of the Joint Venture Company will be 60% for OKI and 40% for Hitachi.
Through this Business Integration, we will combine the business foundations – from development to manufacturing – that OKI and Hitachi Channel Solutions have cultivated globally over many years and establish a comprehensive service structure for terminals and branch channels targeting the financial, retail, and transportation markets. We will provide various hardware devices of automated equipment, including ATMs, which are essential social infrastructure, in a more continuous and stable manner. At the same time, we will further enhance our solutions and services that pursue added value for customers and expand our channel business based on additional customer touchpoints. With regard to the sales business for ATM-related equipment and services, we will maintain the existing framework under which OKI, Hitachi, and their respective sales subsidiaries will continue sales activities within their respective companies, as before.
Going forward, following approval from the Japan Fair Trade Commission and other relevant authorities, we aim to start operations as the Joint Venture Company from October 1, 2026.
Background and Objectives
Against the backdrop of social structural changes such as the spread of cashless payments and the aging population, financial institutions are reevaluating the role of ATMs and branches, while the shift toward contactless operations is accelerating. Consequently, the role of ATMs is undergoing a significant transformation – moving beyond traditional cash transactions to include cardless transactions linked with QR code payments and the payment of various public utility bills – and the industry is entering a period of transformation that demands more advanced ATM functionality.
Since developing the first cash-recycling ATM in 1982, OKI has expanded its automated equipment business across a wide range of sectors, including finance, retail, and transportation, contributing to the streamlining of operations involving cash and documents, as well as the improvement of services. Leveraging the strength of the OKI Group’s integrated value chain – from design and development, and manufacturing to installation and construction, maintenance and fully-outsourced ATM operation and monitoring – OKI provides high-value-added, one-stop solutions. In September 2025, OKI approximately doubled production capacity at its overseas manufacturing base, OKI VIET NAM CO., LTD., thereby strengthening OKI’s stable supply system.
Hitachi and Hitachi Channel Solutions have been working to enhance services in physical settings, such as ATMs, while leveraging Hitachi Channel Solutions’ technological and development capabilities to support initiatives aimed at branch reform and digital transformation (DX), including the creation of new customer touchpoints such as “contactless” and “self-service” solutions for financial institutions. Furthermore, by utilizing the core technologies cultivated through their ATM business, Hitachi and Hitachi Channel Solutions have expanded their ATM operations globally and expanded their product and service offerings into new fields outside the financial sector.
Amid this period of market transformation, the three companies agreed that combining the strengths of OKI and Hitachi Channel Solutions is essential for our customers and society. We have agreed to establish a joint venture with the aim of fulfilling our social responsibility to ensure the continuous and stable supply of ATMs – which remain a vital social infrastructure – while aiming for a shared strategic goal of growth in the global market. Furthermore, in the future, we aim to link the various data obtained from the products and service layers provided by the Joint Venture Company with Hitachi’s Lumada business. Through AI-driven analysis and utilization, we aim to support our customers – including financial institutions – in transforming their operations and creating new services, thereby jointly creating even greater customer value.
