PSA Industrials: Daikin (6367 JT) – Still Expanding
Daikin (6367 JT), the leading A/C maker in the world with a 15~17% global market share, is poised to post its ninth consecutive year of rising sales and OP in FY18. Analyst William Nestuk considers what is next for this steady performer, with growth still to be captured in N. America, Asia and to an extent, Europe and China. While its prospects are not as exciting as for the automation plays, Daikin’s profitable and expanding global A/C business is impressive. Its Chemicals Division is very firm and delivers impressive margins. China A/C is the biggest fly in the ointment, though US profitability lags slightly.Daikin Industries is engaged in the manufacture and sale of air conditioning and refrigerating equipment. The Air Conditioning and Refrigeration Equipment segment offers housing equipment including split type air conditioners, air purifiers and air to water heat pump systems; commercial equipment including packaged air conditioners, multi-split type air conditioners, water cooled chillers, medium/low temperature refrigeration equipment, air handling units, rooftop systems and air filters; and marine air conditioning equipment. The Chemicals segment offers fluorocarbon gases, fluoroplastics, fluoroelastomers, fluoro coating agents, semiconductor-etching products and fluorinated oils.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.