JAPAN: Daikin reported sales of 1,094,715 million yen ($7,552 million) in the first quarter (April 1 to June 30), up 13.1% year-over-year.

Operating income was 117,884 million Japanese yen (813 million US dollars), up 9.3% year-over-year.

Total sales of the Air Conditioning and Chiller business segment, its largest business sector, increased by 13.8% to 1,011,840 million yen (6,981 million US dollars).

High inflation impacted the market in Europe, with sales higher than the same period last year and material supply problems reduced. Sales of home air conditioning equipment rose in France and Spain on rising temperatures.

Sales of domestic heat pump hot water equipment rose year on year in Europe, as did sales of commercial air conditioning equipment.