Growing potential markets and cheaper labor encourage further offshoring
As a major of air manufacturer and distributor of conditioning products, Daikin operates in dozens of countries in Europe, Asia, North America, Africa, Oceania and Latin America. Daikin generates 77.0% of net sales overseas. The company manufactures significant amounts of product in the United States, Europe and South Asia, particularly Malaysia and Thailand. Daikin has invested approximately $1.2 billion for plants and equipment while employing 84,870 employees, increasing at an annualized rate of 10.9% and 6.1%, over the four years to 2020. The company’s global business strategy indicates increasing investment in plants, equipment and labor to drive higher net sales and lower cost of goods sold.
Balance Sheet|Labor|New Activity|ESG|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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