14/07/2015 - SENSYS Traffic AB, a global supplier of traffic safety solutions, has signed an agreement worth 12 MSEK with OKI regarding a cooperation for the Japanese market.
OKI is a Japanese IT, telecommunications and information company with 21,000 employees and a turnover of 37 billion SEK. OKI has an international business within business solutions and services, telecom systems, social infrastructure, mechatronics, printers and electronic manufacturing services.
Japan has 127 million inhabitants and approximately 4,100 traffic fatalities per year. Vulnerable road users form a significant part of the yearly traffic fatalities. Today Japan has fixed speed enforcement systems of an older type installed on its highways and the police is also using several different types of mobile speed enforcement systems. The Japanese police has recently given priority to traffic safety measures for the vulnerable road users with focus on school children as they are particularly exposed in the dense traffic environment in the cities of Japan. For this purpose, Sensys has developed a speed warning safety system with a smaller size in order to blend into the Japanese city environment. This product is included in the agreement signed between Sensys and OKI. The agreement means that Sensys commits to industrialize the speed warning safety system, i.e. to prepare the product for serial production, for which OKI pays Sensys 12 MSEK. The industrialization is planned to be completed and invoiced by the end of 2015.
"This is a strategic breakthrough for us in Japan. Considering the similarities between Japan and Sweden when it comes to the traffic safety culture, and considering that Japan is 13 times larger than Sweden in terms of population with the sixth largest road network in the world, we see a significant potential in the Japanese market. Therefore we are also very happy and proud to be cooperating with such an important partner in the Japanese market as OKI" says Torbjörn Sandberg, CEO at Sensys.
Sensys Traffic is obliged to publish the information contained in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication 8:00 on 14th of July 2015.
For further information:
CEO Torbjörn Sandberg
Mobile: +46 768-43 43 76
Sensys Traffic is a leading supplier of traffic enforcement systems. Sensys develops, markets and sells systems that are mainly used for speed enforcement and red-light enforcement. The company also provides servicing and maintenance alongside sales of systems. Sensys Traffic’s end customers are primarily police and road authorities throughout the world, as well as private operators. The company sells direct to customers, or via partners, agents and distributors. Sensys Traffic is headquartered in Jönköping and its shares are listed on Nasdaq OMX Stockholm. The company has 42 employees and its sales in 2014 totaled SEK 160.6 million.
For further information: www.sensys.se