Daikin returns record sales

JAPAN: Air conditioning manufacturer Daikin has announced a sales increase of over 38% in 2013 and a record 75% increase in operating profit.

Sales for the fiscal year ending March 31, 2014,were JPY1,783bn (€12.7bn), up 38.1% from 2012’s JPY1,290.9bn (€9.21bn). Operating income rose from JPY88.6bn (€632m) in 2012 to JPY155.1 (€1.2bn) last year.

The figures were buoyed by strong sales in China and Japan, the contribution of acquired companies, particularly that of US manufacturer Goodman in 2012, and the depreciation of the yen.

Daikin has also confirmed that chairman and ceo Noriyuki Inoue is to step down as ceo (Cooling Post, May 8, 2014). He will remain as chairman of the board. Current president and chief operating officer Masanori Togawa will become the new cel pending approval at the next annual general shareholders meeting on June 27.