Retiring Daikin chairman to receive $27m bonus

JAPAN: Retiring Daikin chairman Noriyuki Inoue is reported to be receiving JPY4.3 billion (US$27m) as a special achievement bonus.

The bonus is in recognition of Inoue’s 67-year Daikin career and his achievements since he became president in 1994.

After joining Daikin in 1957, Inoue took on his first director role within the company in 1979, becoming MD in 1985. After being made president in 1994, and chairman the following year, he expanded the company globally by acquiring a number of major air conditioning companies including the Malaysian conglomerate OYL Industries and US manufacturer Goodman. During the subsequent 30 years, Daikin sales grew over 10-fold to JPY4,395bn (US$28.3bn).