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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Daikin Industries,Ltd.    6367   JP3481800005

DAIKIN INDUSTRIES,LTD.

(6367)
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Daikin Industries : Participates in the Smart City Project in Singapore

11/11/2020 | 09:44am EST

Daikin Industries, Ltd. has recently agreed to provide a district cooling system for Tengah Town, a smart energy town project being promoted in Singapore by the Singaporean government.

Investigation will soon begin toward the establishment of a joint venture company with the Singapore Power Group ('SP Group') to realize a district cooling business. Daikin has been providing various products and services in Singapore for 50 years, and its high energy-saving air conditioners and far advanced systems were adopted for the project based on the technology and experience that the company has cultivated.

Under this project, collaborating with SP Group, Daikin supplies advanced district cooling system covering all residences in the smart city. With this system, 30% life cycle costs savings is realized at each household compared to individual air-conditioning installment. Daikin also aims to introduce its high energy-saving equipment in other public facilities and contribute to a significant reduction in power consumption. A district cooling system is a cooling mechanism that supplies water cooled from a newly developed, high-efficiency modular chiller, which is a large-scale air conditioner, to a fan coil unit (an indoor unit with an air blowing function) that is installed in each residence. Residents and commercial building owners will use air conditioning in a 'subscription model' that charges a usage fee according to time used. Moreover, Daikin has also concluded maintenance contracts for large-scale air conditioners and fan coil units throughout the city, as a means to provide smart support to the township and develop a sustainable business model.

Airconditioning expense is said to occupy 40% of total electricity usage at households. Daikin contributes to saving energy of total smart city highlighting air-conditioning field, and will keep on working for environment protection and development of smart city offering solution business.

Overview of Tengah Town

Tengah Town is a futuristic new city uniting nature and state-of-the-art technology, under development by the Singapore Housing & Development Board in the West Region of Singapore, With a total area of 700 hectares, it will consist of 42,000 residences incorporating the latest advanced technologies alongside commercial buildings such as restaurants and sports centers in addition to schools and hospitals surrounded by parks and farms. It will be a safe, green, convenient city where pedestrian flow is completely separated from transportation systems, including railroads, buses, and cars. The latest energy management system will be installed in residences to enable residents to visualize electricity use and help them save energy throughout their homes by using mobile apps. Intended as ideal utopia integrating a green town and smart city pursuing sustainability, Tengah Town will start accepting residents in 2023.

Contact:

Tel: 1860 180 3900

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DAIKIN INDUSTRIES,LTD. -2.40% 23225 End-of-day quote.1.33%
SP GROUP A/S -1.61% 306 Delayed Quote.12.92%
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Sales 2021 2 431 B 23 419 M 23 419 M
Net income 2021 154 B 1 486 M 1 486 M
Net Debt 2021 73 708 M 710 M 710 M
P/E ratio 2021 44,2x
Yield 2021 0,69%
Capitalization 6 796 B 65 477 M 65 483 M
EV / Sales 2021 2,83x
EV / Sales 2022 2,55x
Nbr of Employees 80 369
Free-Float 91,5%
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Number of Analysts 17
Average target price 23 233,33 JPY
Last Close Price 23 225,00 JPY
Spread / Highest target 16,3%
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Spread / Lowest Target -24,7%
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NameTitle
Masanori Togawa President, CEO & Representative Director
Noriyuki Inoue Chairman
Koichi Takahashi GM-Accounting, Finance & Manager-Budget
Takashi Matsuzaki Director, EVP, Head-North America R&D
Jiro Tomita Director, EVP & Head-Production Technology
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