Oki Electric introduces major structural reforms
President Kanbe's first task was disposing of the predecessor company's debt, recorded on Oki Electric's books as an extraordinary loss and amounting to over 178.5 million yen. President Kanbe decided to have the stockholders and general creditors bear the losses, in line with the Enterprise Reconstruction and Reorganisation Act.
The 1950's also saw Oki reduce the technological gap between itself and overseas companies. Oki Electric began energetically introducing new technology from abroad.
Oki Electric's shares were listed on the Tokyo Stock Exchange.
The company doubled its capital to 360 million yen.
Oki Electric introduced teletypewriter technology from Western Electric.
As the companies business expanded another round of organisational reforms became necessary. In April 1958 the company introduced major structural reforms, such as establishing a Comprehensive Technology Planning Office, reorganising the business Research Department and adopting a new plant system.
Oki Electric increased its capital to 2.16 million yen and also issued its first corporate bonds in this year.