Oki Electric Industry Company also known as the Oki Group or just Oki have been in the printer and telecom business for over 130 years. Founded by Kibataro Oki in 1881 they were the first company to manufacture the telephone in Japan. They now operate in more than 120 countries specialising in mechatronics products (ATM machines), printers and telecommunication equipment. Their main customers include government agencies, financial institutions, telecom companies and large corporations and have recently started selling to small and medium sized business and through retail outlets. During World War 1 Oki played an important role in providing telephone support via the largest PBX system installed in Japan. They also provided railroad type printers, electric wires and portable telephones to countries outside of Japan and were highly profitable. By the late 1960's Oki transformed itself from a telephone company to an electronics company to respond to economic growth in Japan. During the 60's and 70's Oki produced high quality typewriters, computers, I/O devices, electro printers, dot printers, cash dispensers and automatic teller machines mainly to the financial industry. In 1982 Oki developed the world's first cash recycling ATM, which allowed deposited banknotes to be used for withdrawal immediately. With the spread of the internet and a Japanese recession in the 90's Oki began developing printers and facsimile machines with their newly established Oki Data Corporation. By the beginning of the 21st century they expanded their product line again producing communication servers and semi conductors, in 2008 releasing the world's first 160Gbit/s Optical 3R Regenerator which is used for ultra long distance data transmission. Oki are also known for the security devices including an Iris Recognition System and Face Image Processing.