Daikin is expanding its presence in the cold chain with the introduction of plug-in freezer cases to the Japanese market.
Developed by European manufacturer, AHT, the move follows Daikin’s €579m ($A913.3 million) acquisition of the Austrian retail refrigeration equipment manufacturer in 2018.
The range of low-temperature equipment, running on R290 refrigerant, incorporate sliding glass doors and inverter compressors. The range will be sold under the Daikin brand.
In its recently announced Fusion 25 five-year strategic management plan, Daikin said it is working to expand its business globally.
“With the new line-up of frozen plug-in showcases it will be possible to provide added value to the entire cold chain from production areas to consumption areas,” Daikin said adding that its global cold chain business will allow the company to solve social issues such as “food safety and security,” “reduction of food loss,” and “carbon neutrality of the entire cold chain.”
Daikin released its strategic management plan "FUSION 25," which extends from fiscal year 2021 to fiscal year 2025, last month.
The plan points out that customer needs and values have changed, including a shift from goods to experiences, and market needs have expanded for indoor air quality and ventilation due to the COVID-19 pandemic.
“Daikin sees these dramatic changes as an opportunity and explored themes leading to sustainable growth and development by viewing the world and its goals in the coming 10 to 20 years from a long-term perspective and then utilized the backcasting method in deciding which themes to adopt,” Daikin said.
Daikin has established three growth strategy themes: "Challenge to Achieve Carbon Neutrality," "Promotion of Solutions Business Connected with Customers," and "Creating Value with Air."
With large market growth expected in India, Daikin said it will strengthen local production and make the region one of its major bases for global business.
In terms of quantitative targets, Daikin has set a sales target of 3.1 trillion yen and an operating profit margin of 10.5 per cent in fiscal year 2023, the third year of FUSION 25.
The company will make upfront investments that exceed 800 billion yen for further business expansion. Targets for the final year of fiscal year 2025 are sales of 3.6 trillion yen and operating profit of 430 billion yen (for an operating profit margin of 12 per cent).