JAPAN: Daikin has recorded a 37% leap in Q1 sales to JPY799bn (US$7.3bn), with profit doubling to JPY109.3bn ($1bn) compared to the same period in 2020.

In the figures to the end of June, the Japanese company reports demand for residential air conditioning exceeding expectations in developed countries. Strong demand was also seen in Europe for heat-pump-type hot water heating systems.

Sales by its air conditioning division, the company’s largest business segment, reached JPY735.6bn ($6.8bn). Sales in Europe, its best performing region, were up 57% to JPY137bn ($1.3bn) and surpassed sales in Japan for the first time.