Coronavirus, Climate Change Boost Air Conditioner Giant in Japan
- Daikin has surged to a market value of nearly 5 trillion yen
- High-tech air-conditioners a boon amid virus, climate dangers
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Companies worldwide are beset by the very near-term threat of coronavirus and long-term specter of climate change. Japanese air-conditioning giant Daikin Industries Ltd. might be one of the few companies that stands to benefit from both.
Nearing a market value of 5 trillion yen ($47 billion), the world’s largest maker of air-conditioners is riding an almost uninterrupted eight-year streak which has seen its shares surge more than 700%. It’s now the 19th largest stock on the Topix, worth more than Japan’s second-largest megabank. The stock has also beat the broader index by 15 percentage points this year.