DAIKIN Airconditioning Philippines Inc., the local unit of Japanese air-conditioner manufacturing company Daikin Industries Ltd., expects to end its fiscal year 2016 ending in March this year with sales of P2.5 billion and is targeting to increase this to P3.5 billion in fiscal year 2017.
The local unit of Daikin is banking on its expansion efforts to boost its volume turnover, company officials said.
“The group is aiming at P2.5 billion in sales for fiscal year 2016, or 50 percent higher than the P1.9 billion a year earlier,” Jed Caburian, Daikin Philippines’ division manager for sales, said in a press conference on Thursday.
“Also, for our next fiscal year, we are targeting [sales of]P3.5 billion,” he added.
Daikin’s fiscal year begins in April and ends in March. In Japan, the fiscal year is represented by the calendar year in which the period begins.
According to Caburian, the “market penetration in the National Capital Region is about 30 percent, but overall,
I think we’re still [at]11 percent to 12 percent total air-conditioning penetration,” which means there is a lot of room to increase sales and expand market share.
Lee Wai Kok, president of Daikin Philippines, explained that at present, the Philippine unit’s contribution to sales in the Daikin Group is currently very small because most of the air-conditioners sold in the local market are of the window type while Daikin mainly sells split type units.
The company currently has 300 authorized dealers around the country. All its products are manufactured in Japan, Malaysia and Thailand.
“This year, we also plan to start our centralized office in the Bicol area, Dagupan, and Ilocos Norte,” Lee added.