Daikin Air Conditioning (Vietnam) Joint Stock Company (Vietnam)

Founded in 1995, the subject was initially engaged in trading air conditioners under “Daikin” brand. In 2016, being invested by Daikin Industries, Ltd. (parent company) and another member of Daikin Group in Thailand, Daikin Vietnam expanded its business into producing air conditioners and air purifiers by opening a branch in Hung Yen Province. Daikin Vietnam engages in producing air conditioners and air purifiers with “Daikin” brand. It provides for the markets of residential air conditioners, commercial air conditioners, and air purifiers along with installation, warranty, and repair services. Products are distributed through authorized dealers and Daikin E-Shop website. Daikin Vietnam has import-export transactions mainly with members of the Daikin Group from other foreign countries. The subject's parent company - Daikin Industries, Ltd. - is one of the world's largest Japanese air conditioning equipment manufacturers and the only integrated air conditioner manufacturer in the world. With the ability to develop a full product line from air conditioners to refrigerants, Daikin has a strong presence in 5 major regions around the world including Japan, China, Southeast Asia, Europe and North America.According to the financial statement of quarter 2 of 2023 of the parent company - Daikin Industries, Ltd., net sales of this group increased by 10% over data in the same quarter of 2022. Accordingly, net sales of the air conditioning segment went up by 11%. In which, the Asia (except for China) rose by 7%, contributing JPY 217.1 billion. In the Asia area, Vietnam was not in the growth group when net sales in that quarter had a slight down of 1% over data in the same quarter of 2022. Thailand and India were the bright points when they recorded a growth rate of 27% and 28% in net sales in that quarter. This group announced the forecast net sales of 2023 will be JPY 4,240 billion.