KNYJF Stock, Kone Corp. - Class B Information

Kone, whose name means "machine" in Finnish, is the world's fourth-largest supplier of elevators and escalators. Kone began producing elevators in Finland in 1918 and today generates revenue in three ways: selling new elevators and escalators, overhauling or modernising old equipment, and servicing its installed base. Most of the company's profit comes from the last activity, where contracts are rolled over annually with built-in price increases. The bulk of the company's business is in elevators, which are more numerous globally than escalators.