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Daikin

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Daikin Industries, Ltd.
Company typePublic (K.K)
TYO: 6367
TOPIX Large 70 Component
Nikkei 225 Component
IndustryConglomerate
Founded25 October 1924; 100 years ago (1924-10-25)
FounderAkira Yamada
HeadquartersUmeda Center Bldg., 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka 530-8323, Japan
Key people
Masanori Togawa, (CEO and President)
ProductsHome appliances
Chemicals
Medical equipments
Electronics
Oil hydraulics
Defense systems
RevenueIncrease ¥3.109 trillion($19.98B)(2022)[1]
Increase ¥316.3 billion($2.03B) (2022)[1]
Increase ¥217.7 billion ($1.4B)(2022)[1]
Total assetsIncrease ¥3.823 trillion($24.57B) (2022)[1]
Total equityIncrease ¥1.969 trillion ($12.65B)(2022)[1]
Number of employees
88,000 (2022)[1]
Websitedaikin.com
Footnotes / references
[2][3][4]

Daikin Industries, Ltd. (ダイキン工業株式会社, Daikin Kōgyō Kabushiki-gaisha) is a Japanese multinational conglomerate company headquartered in Osaka. Daikin is the world's largest air conditioner manufacturer.[5][6]

History

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Daikin Industries Ltd was founded in 1924 as Ōsaka Metalworking Industries LP (大阪金属工業所, Ōsaka Kinzoku Kōgyōsho) by Akira Yamada. In 1953, Daiflon or polychlorotrifluoroethylene was developed. In 1963 the company was renamed Daikin Industries, Ltd. (ダイキン工業株式会社, Daikin Kōgyō Kabushiki-gaisha, Daikin deriving from the combined reading of the first kanji of 大阪 Ōsaka and the first of 金属 Kinzoku) and developed Neoflon. In 1982 it was renamed to the current Daikin Industries Ltd.

Daikin entered the North American air conditioning market in 2004.[7]

In 2006, Daikin Industries acquired McQuay International, a Minneapolis, Minnesota–based global corporation that designs, manufacturers and sells commercial, industrial and institutional heating, ventilation and air conditioning (HVAC) products.[8] In 2008, McQuay International was rebranded as Daikin-McQuay as Daikin began implementing many of its technologies (including the Daikin Inverter Compressor) and manufacturing processes into McQuay equipment and factories. However, in November 2013, the Daikin-McQuay group was again rebranded as Daikin Applied,[9] ending 80 years of business for the McQuay name in the United States. Meanwhile, the McQuay brand continues to be used in China and Hong Kong.[10]

In the filtration realm, Daikin acquired American Air Filter (AAF) in 2007,[11] and Flanders in 2016.[12] The resulting entity is known both as AAF International and AAF Flanders.

In 2008, Daikin purchased a 75% share of All World Machinery Supply based in Roscoe, Illinois.[13] In 2009, Daikin Airconditioning Philippines was established.[14]

In August 2012 Daikin agreed to acquire Goodman Global from the San Francisco–based private equity firm Hellman & Friedman for $3.7 billion,[15] after first planning to buy Goodman the previous year. In January 2011, Daikin had announced plans to buy Goodman Global at approximately US$4 billion valuation;[16] however, the plans were delayed for a year by the 2011 Tōhoku earthquake and tsunami.[17] The acquisition was expected to expand Daikin's presence in the United States and in duct-type and split-system air-conditioners, and was expected to make Daikin the world's largest maker of heating, ventilation and air-conditioning systems.[18][needs update][19]

As of April 2014, Daikin Hydraulics marketed a line of piston pumps, vane pumps, manual pumps, solenoid valves, and flow and control valves, claiming their pump technology to be 50–70 percent more energy efficient than conventional technology.[20]

In 2017, Daikin opened the Daikin Texas Technology Park, its largest plant and the fifth largest factory in the world. Costing $417 million, this 4.1-million-square-foot facility in Waller, Texas, will consolidate Goodman's manufacturing operations.[21][22]

As of 2021, other companies representing additional Daikin brands include Motili and Quietflex.[23]

On March 2, 2023, Daikin announced they had acquired the San Diego–based custom air-handling equipment manufacturer Alliance Air Products.[24]

In 2024, Daikin bought the naming rights to Minute Maid Park, home of Major League Baseball's Houston Astros, renaming it to Daikin Park on January 1, 2025. The deal is expected to run through 2039.[25]

Centennial celebration

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On April 28, 2024, Daikin Philippines President Takayoshi Miki hosted Daikin's first fun run, “Daikin: Run for Clean Air 2024” at Bridgetowne with 800 runners.[26] On May 21, 2024, Daikin Industries, led by President & CEO, Masanori Togawa with Chief global group officer and board chair, Noriyuk Inhoue, celebrated its centennial founding with a commemorative ceremony attended by 2,000 at The Symphony Hall to further support its "Forests for the Air" project.[27]

PFAS pollution and lawsuits

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In 2005, Daikin and 3M paid $4 million in a US settlement over water contamination with preflourinated compounds in Decatur, Alabama, the site of several chemical production facilities.[28] In 2017 Daikin agreed to pay $5 million to the West Morgan-East Lawrence authority for an advanced water purification filter. The authority had advised residents not to drink the water in 2016 due to PFAS contamination.[29] In 2021 Daikin, 3M, Toray, BFI and Synargo paid a $98.5 million settlement with the city of Decatur over PFAS dumping in Morgan County.[30]

A 2004 study by Kyoto University Professor Akio Koizumi identified Daikin as the source of PFOA pollution in the Yodo river. [31][32] In 2020 a Settsu city survey in Osaka found elevated levels of PFAS contamination in groundwater and waterways. One well used to irrigate crops was found to have levels 420 times over the national average. In 2021 blood tests of 9 residents living near Daikin's Yodogawa factory revealed elevated levels of PFAS, the highest in a 69-year old man 70 times the national average.[33] Daikin had suspended production of PFAS-based water repellents in 2012 and stated the risks were “only possibly carcinogenic, like how pickled vegetables are” and that the water in Daikin's wastewater treatment tanks as "clean enough to drink" at a city council meeting. Daikin later issued retractions towards the "clean enough to drink" statement. [34] Production and export of preflourinated compounds in Japan have been banned since 2021. [35]

Business divisions and products

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Daikin is organised into the following divisions, offering the following products:[2][36]

  • Air conditioning
    • Residential air conditioners
    • Residential air purifiers
    • Commercial-use air conditioners
    • Commercial-use air purifiers
    • Humidity-adjusting external air-processing units
    • Large-sized chillers
    • Marine container refrigeration units
    • Marine vessel air conditioners
  • Chemicals
    • Fluorocarbons
    • Fluoroplastics
    • Fluoro coatings
    • Fluoroelastomers
    • Fluorinated oils
    • Oil- and water-repellent products
    • Mold release agents
    • Pharmaceuticals and intermediates
    • Semiconductor-etching products
    • Dry air suppliers
  • Air filtration
  • Oil hydraulics
    • Industrial hydraulic equipment and systems
    • Mobile hydraulic equipment
    • Centralized lubrication equipment and systems
  • Medical equipment
    • Rebreathers and similar equipment
    • Home-use oxygen therapy equipment
  • Electronics business
    • System management of product development process
    • Facility design CAD software
    • Molecular chemistry software

Daikin Industries, Ltd.

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In August 2016, Daikin Industries Ltd opened a fully functional headquarters in Cairo, Egypt. Daikin Cairo[37] is yet another move for the company to establish business in Africa. Plans are underway to open more headquarters.

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References

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  1. ^ a b c d e f "Daikin Annual Report 2022" (PDF). Daikin. Retrieved 6 April 2023.
  2. ^ a b "Corporate Data". Archived from the original on 8 November 2018. Retrieved 30 November 2018.
  3. ^ "Annual Report 2021" (PDF). Retrieved 5 April 2022.
  4. ^ "Daikin Financial Statements". Bloomberg Businessweek. Retrieved 24 July 2014.[dead link‍]
  5. ^ "The World's Biggest Air-Conditioning Company Braces for a Hotter Future". Bloomberg. 10 March 2022. Retrieved 14 May 2023 – via www.bloomberg.com.
  6. ^ "World's Biggest Air-Conditioner Maker Doubles Down on India". Bloomberg. 28 September 2022. Retrieved 14 May 2023 – via www.bloomberg.com.
  7. ^ "Daikin AC Takes on North America". ContractingBusiness.com. 1 February 2006. Retrieved 8 April 2014.
  8. ^ "Daikin Industries Acquires O.Y.L., McQuay". Retrieved 30 November 2016.
  9. ^ "Daikin McQuay Rebrands to Daikin" (PDF) (Press release). Daikin Applied. 19 November 2013. Archived from the original (PDF) on 4 April 2015. Retrieved 30 November 2016.
  10. ^ "McQuay International". Daikin Industries. 12 August 2021.
  11. ^ "Daikin to become leading supplier of air filters with acquisition of Nippon Muki". Archived from the original on 1 August 2021. Retrieved 31 July 2021.
  12. ^ "Daikin acquires US filter manufacturer Flanders for US$430m". Retrieved 31 July 2021.
  13. ^ "Daikin acquired a hydraulic equipment distributor All World Machinery Getting down to solution business in the US end user market with their own base - News Release - Daikin Industries, Ltd". Archived from the original on 5 April 2019. Retrieved 2 August 2016.
  14. ^ "Daikin About Us | Daikin Philippines". Daikin Philippines. Archived from the original on 25 May 2018. Retrieved 5 June 2018.
  15. ^ "Daikin to acquire US rival Goodman Global for $3.7bn". BBC News. 29 August 2012. Retrieved 29 August 2012.
  16. ^ Murai, Reiji. "Japan's Daikin eyes Goodman Global; deal could cost $4 bln". IN. Archived from the original on 30 November 2018. Retrieved 5 June 2018.
  17. ^ "Daikin says puts efforts to buy Goodman Global on hold". Reuters. 1 April 2011. Retrieved 5 June 2018.
  18. ^ "Daikin buys Goodman for $3.8 billion, gains access to North America". Reuters. 29 August 2012. Archived from the original on 15 July 2017. Retrieved 29 August 2012.
  19. ^ "On outskirts of Houston, giant HVAC plant employs thousands". 21 May 2017.
  20. ^ "Daikin Piston Pumps, Vane Pumps, Manual Pumps, Solenoid Valves, Directional, Flow and Control Valves". All World Machinery Supply. Retrieved 29 August 2019.
  21. ^ "Peek inside Daikin's new $417 million manufacturing hub". Houston Business Journal.
  22. ^ "Daikin officially opens US plant". 25 May 2017.
  23. ^ "Our Brands". Daikin. Retrieved 25 June 2023.
  24. ^ Applied, Daikin. "Daikin Applied Acquires Custom Air-Handler Manufacturer Alliance Air Products". www.prnewswire.com (Press release). Retrieved 25 June 2023.
  25. ^ "Astros' home to be Daikin Park; deal through '39". ESPN.com. 18 November 2024. Retrieved 18 November 2024.
  26. ^ "Daikin's centennial celebration: A milestone fun run with a purpose". The Philippine Star. 14 May 2024. Retrieved 22 May 2024.
  27. ^ "Daikin celebrates 100 years". coolingpost.com. 21 May 2024. Retrieved 22 May 2024.
  28. ^ "Despite paying for water purification system in U.S., in Japan Daikin refuses to clean up PFAS pollution (14)". Tokyo Investigative Newsroom. 10 March 2022. Retrieved 26 November 2024.
  29. ^ "West Morgan-East Lawrence water authority receives $5 million lawsuit settlement from Daikin". 17 May 2017.
  30. ^ "3M signs nearly $100 million settlement with Decatur, Morgan County and Decatur Utilities". WAFF 48. 19 October 2021. Retrieved 26 November 2024.
  31. ^ "Perfluorooctanoate and perfluorooctane sulfonate concentrations in surface water in Japan". Chemical & Engineering News. 2004. doi:10.1539/joh.46.49.
  32. ^ "Despite paying for water purification system in U.S., in Japan Daikin refuses to clean up PFAS pollution (14)". Tokyo Investigative Newsroom. 10 March 2022. Retrieved 26 November 2024.
  33. ^ "追跡"PFAS汚染"　暮らしに迫る化学物質". NHK Close-up Gendai. 10 April 2023. Retrieved 16 May 2024.
  34. ^ "Daikin dismissed scientific findings, local fears over PFOA pollution in meeting with Settsu City Council members (12)". Tokyo Investigative Newsroom. 28 February 2022. Retrieved 26 November 2024.
  35. ^ "大阪のPFAS汚染で「1000人血液検査」の中間発表。汚染の広がりが明らかに". Yahoo News Japan. 10 April 2024. Retrieved 26 November 2024.
  36. ^ "Annual Report 2013" (PDF). Archived from the original (PDF) on 4 April 2015. Retrieved 24 July 2014.
  37. ^ "Customers". www.daikinmea.com.
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