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Daikin beats China slowdown with high-end air conditioners

Chinese sales up 2% but US market remains a challenge

Customers look at air conditioners at a Daikin store in China.

OSAKA -- Even as businesses that rely on China are hit by the slowdown in the world's second-largest economy, Daikin Industries is doing impressively well with its secret weapon: lucrative air conditioners for upscale homes.

The Osaka-based company is poised to earn a record group net profit of 195 billion yen ($1.78 billion) for the year ending in March, up 3% from the previous year.

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