1. Elevator business study Introduction and Analysis and Outlook

3. Low rise buildings (up to 8 floors)

4. TE speeds up to 500 ft/min (2.5 m/s)

5. HE speeds up to 200 ft/min (1.0 m/s)

6. Medium rise buildings (up to 10 floors)

7. TE speeds up to 500 ft/min (2.5 m/s)

8. High rise buildings (more than 10 floors)

10. Global Elevators Market Elevators in Operation (2008)

11. Global Elevators Market New Elevator Market (2008)

12. Global Market for ElevatorsJapanese Manufacturers Exporting to Europe Mitsubishi Electric K.K. Mitsubishi Elevator Europe subsidiary Fujitec K.K. Fujitec Deutschland GmbH Fujitec UK Ltd. subsidiaries e.g. flagship initiative in the Reichstag in Berlin Toshiba Elevator K.K. (TELC) and KONE Corp. Alliance 1998: Intitial alliance of KONE and TELC 2001:Mutual acquisition of stocks Hitachi K.K. Not present on the European market 1 2 3 4 Click the @ sign to access the respective company website See slide notes for further information

14. Despite drop in construction (revised building standards law) further growth in elevators and escalators market

15. Increase in orders from the retail industry and railroad companies

18. 2008 net sales ¥510 million (US$5 million), down ¥162 million year-on-year

19. Operating results from previous FY’s profit of ¥2 million to a loss of ¥16 million JPY (US$0.2 million)

20. Fujitec's European elevator business focuses on Germany and the UKSee slide notes for further information

21. The Japanese Market IMarket Trends in Figures ESTIMATE ESTIMATE The domestic Japanese market has been steady for the last 5 years Data provided by METI See slide notes for further information

23. Production value averages at 216,000 million yenData provided by METI See slide notes for further information

26. Chuo Elevator K.K.

27. Yokohama Elevator K.K.

28. Sansei Yusoki K.K.

29. Sanyo Elevator K.K.

30. Moriya Elevator K.K.

31. Saita Kougyou K.K.

32. DAIKO K.K.

33. Overseas Manufacturers in Japan

34. KONE Corp.

35. Schindler Group

38. 90% serviced by the first-party (manufacturer companies)

40. TÜV SÜD offering elevator testing service

41. JET certifies elevator components with JIS markADIASYSTEM See slide notes for further information

42. The Japanese Market IIIService Providers – Components (Domestic) Domestic components market dominated by elevator manufacturers (90% market share) Manufacturers sell elevator at little margin or loss to win contract, then pick up profits on the maintenance and component sales Remaining market split between numerous third-party component suppliers (see maintenance service market) Third party suppliers receive components from first-party manufacturers Third-party supplier competition keeps prices low for components

43. The Japanese Market IIIService Providers – Components (Overseas) All major Japanese elevator exporters also sell components for their systems This includes: Mitsubishi Electric K.K. Fujitec K.K. Toshiba Elevator K.K.

44. Outlook Services (maintenance and components) are high growth market Europe remains the biggest service area market Strong growth for new installations in China, India and Russia International market dominated by western companies (OTIS, Schindler, ThyssenKrupp, KONE) and Mitsubishi Elevator industry directly related to the construction industry which remains strong in spite of the current financial crisis

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