Daikin to take share in Taiwan agent20th March 2016
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.