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  "documentTitle": "Oasis Fujitec Presentation December 2022",
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  "presentationDate": "2022-12-01 00:00:00",
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  "notes": "The slide highlights a valuation gap and operational underperformance relative to industry peers.",
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      "text": "Fujitec suffers from a strategy overseen by the Board that is not maximizing on its strengths and creating value for its stakeholders, as highlighted by its failure in China. Maintenance, not new installs, is the higher margin business which Fujitec has failed to expand and protect from competitors. This is in addition to lower operating margins, poor overseas marketing, supply chain management, inefficient capital allocation policy, etc.",
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      "text": "Source: Bloomberg",
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      "text": "Fujitec trades at significantly lower EV/EBITDA multiples to publicly-listed pure play peers – OTIS, KONE, and Schindler. Despite the low Uchiyama Family holding, Fujitec is perceived by the market as a controlled company. Fujitec's margins are also the lowest amongst pure play peers.",
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      "text": "Valuation and Capital Efficiency table comparing Fujitec, OTIS, KONE, and Schindler across LFY EV/EBITDA, FY1 EV/EBITDA, P/E Cash Adj., and Operating Margin.",
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      "text": "III.a True Value Overlooked",
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