Japanese air conditioning giant, Daikin, has set out its five-year growth plan to grow to a £17.8 billion business.
In its so-called 'Fusion 20' business plan, Daikin has set out its objectives and strategies to grow its business to 3 trillion yen (~£17.8 billion) in sales by 2020 from their current sales of just over 2 trillion yen.
Daikin is betting on new fields beyond its core air conditioning, chemicals and filters business, namely heating and water heaters, energy solutions, commercial refrigeration, indoor air quality (IAQ) and air environment engineering. The Japanese firm is also investing heavily on what it calls 'next-generation refrigerant and fluorocarbon gas'.
The regions where Daikin believes it will be able to expand enough to hit its targets are North America and Asia. Demand from the growing middle class in Asia is driving demand for better air conditioning and healthier environments.
Read the Daikin plans here