Daikin sees sales rising on new products

MANILA, Philippines - Japanese air-conditioning giant Daikin remains bullish on its prospects for the Philippines despite electricity rates in the country among the highest in Asia.

Daikin Airconditioning Philippines Inc. president Lee Wai Kok said the company is encouraged by the country’s growing economy which has been driving consumer spending upwards for years now.

“The Philippine market continues to grow its economy year after year. More and more consumer will be able to buy air-conditioning unit,” Kok said yesterday.

Kok said Daikin is not concerned about the country’s high electricity rates which, in turn, could discourage consumers to own an air-conditioning unit, saying aside from a growing base of middle-income Filipinos, the company has products that are energy efficient.

“We have products that are based on market situations. We have different products to take care of this market,” he said.

For its fiscal year ending March 2017, the company expects to increase sales to P2.5 billion from the previous year’s P1.9 billion, according to Daikin Philippines division manager Jed Caburian.

This is seen to further expand in its next fiscal year to P3.5 billion, Caburian said.