Reason 1 : The Board's Failure to Initiate Action​

  • The current Board have not proposed any measures to improve the company's performance. 
  • The current Board has failed to develop a new business strategy and a roadmap for turning around Fujitec, as promised to shareholders. ​

Reason 2 : The Need to Protect All Shareholders​

  • The current Board of Directors is controlled by Oasis nominees who were elected to the Board in 2023 (“Oasis Directors”).​
  • Oasis Directors failed to provide effective governance oversight​
  • The voices of all shareholders are not being heard and directors are not working independently to secure and enhance corporate profits and the interests of all shareholders.​

Reason 3 : Oasis Directors Want to Sell Fujitec​

  • We believe, Oasis Directors intend to sell Fujitec to an overseas company despite its potentially adverse impact on shareholders, employees and National Security as it pertains to protecting Japan's infrastructure.​
  • A rushed sale of the company would be problematic for all stakeholders.​

Our Role in Ensuring Economic Security

Protecting Japan's Social Infrastructure: The Essential Role of the Elevator Business in Disaster Prevention and Security.

Fujitec's elevators and escalators are widely recognized as “critical facilities that safeguard people's lives.” Their safe and comfortable operation is a testament to the on-site employees who diligently install and maintain them, often at great personal risk. The process of installing elevators in high-rise buildings can span several years and necessitates the expertise of veteran employees, all the while carrying the risk of accidents. In earthquake-prone countries like Japan, Fujitec's dedicated employees work tirelessly around the clock, even on weekends, to restore services in the aftermath of a major disaster. Fujitec's profits are generated through the cumulative efforts of all its employees.

The elevator business operates on a long cycle, spanning nearly 30 years from customer acquisition to installation, maintenance, and management. This cycle not only includes regular maintenance but also entails significant responsibility for emergency response in disasters, making long-term perspective management vital. The recent introduction of IT and monitoring technology has revolutionized elevator manufacturing, transforming elevators from mere transportation devices into advanced monitoring systems. Fujitec's elevators have been installed in countless private and public buildings both domestically and internationally, playing a critical role in supporting social infrastructure. If Oasis were to sell Fujitec to foreign companies or funds, it could potentially have severe implications for Japan's disaster prevention and security efforts.