OKI Partners with Lipi Data Systems Ltd to Begin Local Production of ATMs for the Indian Market

TOKYO--(BUSINESS WIRE)--OKI (TOKYO: 6703) has entered into a partnership agreement with Lipi Data Systems Ltd (HQ: Mumbai, India) and has commenced local production of ATMs for major financial institutions in India on September 16, 2025. OKI will gradually expand its production capacity and strengthen its production system for the Indian market. Production will start at approximately 500 units per month, with plans to gradually increase output to a scale of 1,000 units per month.

India, boasting the world’s largest population, has experienced rapid economic growth and financial infrastructure development in recent years. The “Make in India” policy (Note 1) promoted by the Indian government is accelerating moves to strengthen local manufacturing. OKI began selling ATMs in the Indian market in 2013 and in 2014 established its local subsidiary, OKI INDIA PRIVATE LIMITED (Mumbai), and has since worked to strengthen its sales network and maintenance system. In addition, OKI has been considering local production in India in order to deliver high-quality, environmentally friendly Japanese ATMs to a broader range of financial institutions. Lipi Data Systems Ltd manufactures electromechanical products at its Udaipur, Rajasthan factory, servicing the BFSI (Note 2), Retail, Aviation, and Transit verticals. By combining OKI’s advanced production technology with Lipi Data Systems Ltd’s deep technological knowledge and network in India, both companies aim deploy ATMs as safe and convenient social infrastructure.

Going forward, OKI will establish high-quality manufacturing through local production in India and accelerate its expansion into global markets, particularly in Asia.

On the occasion of this announcement, Sameer Singhal, Managing Director of Lipi Data Systems Ltd, stated:
“Collaboration with a Japanese company holds great significance for us. Through our partnership with OKI, we hope to contribute to technological innovation and job creation in India, while delivering new value to the market.”

[Related link]
Lipi Data Systems Ltd website: https://lipi.in/

[Terminology]
Note 1: The policy promoted under the Modi administration since its inauguration in 2014 aims to strengthen India’s manufacturing sector and achieve sustainable economic development.

Note 2: An acronym for an industry that encompasses Banking, Financial Services, and Insurance

About Oki Electric Industry (OKI)
Founded in 1881, OKI is Japan's leading information and telecommunication manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its Public Solutions, Enterprise Solutions, Component Products, and Electronics Manufacturing Services businesses. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at https://www.oki.com/global/.

Notes:
- Oki Electric Industry Co., Ltd. is commonly referred to as OKI.
- Other company names and product names mentioned in this text are the trademarks or registered trademarks of the respective companies.