Daikin to take share in Taiwan agent

Taiwan-flagJAPAN: The Nikkei reports that Daikin is to take a 10% stake in its exclusive Taiwanese distributor in an effort to expand sales of commercial air conditioners.

The Japanese manufacturer is to purchase JPY1.5bn (€12m) in new shares issued by the distributor Ho Tai Development.

Ho Tai was established in 1963  and has been Daikin distributor since 1992. Until now, the company has mainly sold residential and central air conditioning units. The Nikkei says that with the investment, Ho Tai will receive technical guidance from Daikin for installing multi-split systems.

Daikin aims to increase sales in Taiwan to JPY60bn (€477m) in 2020, an increase of 50% on its 2015 target.

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