Keihin and Oki Electric Conclude the Agreement on Car Electronics Operations Transfer
November 1, 2001, Tokyo, Japan -- Keihin Corporation and Oki Electric Industry Co., Ltd. today announced that both companies concluded the agreement on October 31, 2001, in which Oki transfers its ownership of the car electronics operations to Keihin, in accordance with the business transfer announcement made on September 19, 2001. From November 1, 2001, Keihin takes over Oki's Car Electronics Division.
Under the agreement, as of November 1, 2001, Oki transfers its sales and marketing concessions in Japan, Europe and the United States, as well as technical information, development facilities and a portion of its manufacturing machinery, regarding the area of electronic control units for motorcycles and automobiles, including engine control systems, transmission and driving systems, body control systems, and communications control systems. Oki also temporarily dispatches approximately 50 employees to Keihin.
Keihin will enhance control-system technologies for motorcycles and automobiles, and further strengthen its product development for business expansion. For Oki, this business transfer will enable the company to concentrate its resources on semiconductors for automotive applications and Intelligent Transportation Systems (ITS) businesses.
About Keihin Corporation
| Headquarters: | 4-3-17 Shinjuku, Shinjuku-ku, Tokyo |
| CEO: | Hiroyuki Shimojima |
| Employees: | 4,058 |
| Foundation: | December 1956 |
| Capital: | 6.9 billion yen |
| Business: | Development, manufacturing and sales of components, instruments, systems of automobile and transportation equipment, as well as industrial valves. |
About Oki Electric Industry Co., Ltd.
| Headquarters: | 1-7-12 Toranomon, Minato-ku, Tokyo |
| CEO: | Katsumasa Shinozuka |
| Employees: | 8,217 |
| Foundation: | November 1949 |
| Capital: | 67.8 billion yen |
| Business: | Development, manufacturing and sales of telecommunication systems, information systems and electronic devices. |
Press Contact:
Oki Electric Industry Co., Ltd.
Public Relations Division
Phone: +81-3-3580-8950 |
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