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CORPORATE NEWS [latest news list] July, 31 2009
Sales of Residential Heat Pump Hot Water Heaters to the Chinese Market
Full-fledged Entry to the Residential Hot Water Heating Business in China

Daikin (China) Investment Co., Ltd., a wholly owned subsidiary of Daikin Industries, Ltd., has developed a "residential heat pump hot water heater" for the Chinese market and intends a full-fledged entry into the residential hot water heater market. Sales in China are scheduled to begin from August 1, 2009.

China has a heating culture that uses combustion type boilers that burn fossil fuels; however, because of greater awareness towards the environment, consumer needs have increased in recent years from conventional combustion type heaters to heat pump heaters. In addition to emitting less CO2 and having approximately half of the running costs compared to combustion type boilers, heat pump heaters are also considered superior from a standpoint of safety.

Daikin Residential heat pump hot water heaters are products that were developed in 2006 for the cold regions of Europe and have received a favorable evaluation for high energy savings while exhibiting a capability to sufficiently heat interior spaces and water even when outdoor temperatures fall below freezing. For this reason, the sales of these products in Europe have expanded substantially.

This will be the first time for sales of a residential heat pump hot water heater with specifications for the Chinese market that combines both hot water supply and floor heating that meet China regional conditions. The product will be marketed towards customers possessing luxury apartments and second homes in the coastal regions such as Shanghai where people are more affluent. Production will be performed in Shanghai,China at Daikin Air-conditioning (Shanghai) Co., Ltd. Enhancement of the product lineup is planned for the future, and there are plans to sell not only in coastal areas but also to all regions of China. Sales of 10 billion yen are being targeted for fiscal year 2010.

Daikin is accelerating the global development of the heating business by developing and launching products that conform to the specific conditions of each region. Test marketing of the heat pump type residential hot water heaters that were developed and manufactured in Europe has been completed for Australia, the United States, and China, with sales having already begun in Australia and the United States in February and June, respectively. Expansion of sales is being strengthened for heat pump type heaters and hot water heaters for all global regions, and sales of 150 billion yen are being targeted in the heating and hot water supply business for fiscal year 2012.

[Overview of Daikin Air-conditioning (Shanghai) Co., Ltd.]
1) Company name: Daikin Air-conditioning (Shanghai) Co., Ltd.
2) Place of incorporation:Shanghai, People's Republic of China
3) Share capital:82.6 million U.S. dollars
4) Investment ratio:Daikin Industries, Ltd., 76.6%, Daikin (CHINA) Investment Co., Ltd., 10.8%, Shanghai Light Industry. Co. Ltd., 12.6%
5) Established:November 1995
6) Representative:Tasturo Kato, Manager Director
7) Description of business:Manufactures and sells residential, commercial, and large-scale (applied) air conditioning equipment
8) Sales volume:Approx. 90 billion yen (December 2008)
9) Number of employees:Approx. 1,000 (end of March 2009)

[Overview of Daikin (China) Investment Co., Ltd.]
1) Company name:Daikin (China) Investment Co., Ltd
2) Place of incorporation:Beijing, People's Republic of China
3) Share capital:52.825 million U.S. dollars
4) Investment ratio:Wholly owned subsidiary of Daikin Industries 100%
5) Established:September 2001
6) Representative:Ken Tayano, Manager Director
7) Description of business:Manages subsidiaries and air conditioning sales in China
8) Sales volume:Approx. 97 billion yen (December 2008)
9) Number of employees:Approx. 1,100 (end of March 2009)

  For more information, please contact
     Daikin Industries, Ltd.
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