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Daikin plans $5.7bn in capex over 3 years, targeting India and Europe

Indian demand for air conditioning is growing the most in the world, CEO says

Daikin is boosting production capacity for energy-efficient heating and air conditioning.   © Reuters

OSAKA -- Daikin will spend 800 billion yen ($5.7 billion) on capital investments over the next three years, the company said Wednesday, as it seeks to cash in on demand for energy-efficient heating in Europe and India's growing air conditioner market.

The outlays -- part of its three-year plan for fiscal 2023 through fiscal 2025 -- mark a 47% increase over the previous three-year period. Research and development spending will climb 53% from the previous period to 390 billion yen.

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