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CORPORATE NEWS [latest news list] March 30, 2007
line
Establishment of Turkey Office in Istanbul
Aiming for Sales Expansion in the Turkish Air-conditioning Market



Daikin Industries, Ltd. (Head office: Osaka, Japan; President and COO: Yukiyoshi Okano) will open its Turkey Office in the Republic of Turkey on April 1, 2007.
Daikin Europe, N.V., a wholly owned subsidiary of Daikin Industries, is to establish an office in Turkey, marking the first time that a Japanese air conditioning manufacturer has established a base of operations in Turkey. The office will actively seek to expand sales in a market dominated by locally capitalized AC manufacturers.

AC demand in Turkey is approximately 44 billion yen (2006 estimate by Daikin), making it the 7th largest market in Europe. After recovering from an economic crisis in 2001, Turkey has continued to enjoy steady growth, with development in metropolitan areas especially strong. The demand for commercial and large-scale AC equipment (multi-unit air-conditioning for buildings), Daikin's strength, is expanding accompanying a sharp rise in the number of hotels, offices and stores. Turkey also has the 3rd largest demand for residential AC in Europe and the Turkish AC market as a whole shows promising future potential.

In conjunction with establishment of the Turkey Office, Daikin has also authorized a new distributor in Turkey. Daikin intends to expand sales of residential and commercial air-conditioners through the authorized distributor's sales and service network in addition to enhanced marketing activities conducted by the new office.
Sales of Daikin air-conditioners in Turkey were approximately 1.6 billion yen in fiscal 2006. Daikin aims to catch up with locally capitalized AC manufacturers and expects sales of 8.4 billion yen in fiscal 2010.

[Summary of New Company]
  1) Name: Turkey Office
  2) Place of incorporation: Istanbul, Republic of Turkey
  3) Representative: to be selected from employees dispatched from Daikin Industries
  4) Date established: April 1, 2007
  5) Objectives of establishment: conducting market surveys, sales support activities for distributors and sales outlets
  6) Number of employees: 5 (1 employee dispatched from Japan, 4 local employees)

[Summary of Daikin Europe]
  1) Name: Daikin Europe N.V.
  2) Place of incorporation: Oostende, Belgium
  3) Capital: approximately 7.8 billion yen
  4) Investment ratio: wholly owned subsidiary of Daikin Industries, Ltd.
  5) Established: March 1972
  6) Representative: managing director Masatsugu Minaka
  7) Description of business: manufacturing and sales of industrial air-conditioning equipment
  8) Total sales: 168.5 billion yen (consolidated base as of period ending March 2006)
  9) Number of employees: approximately 1,250
End of Report


  For more information, please contact
     Daikin Industries, Ltd.
 
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