TOKYO -- The market for energy-saving heat pumps in Europe is slowing as countries cut subsidies, but Japanese manufacturers like Daikin and Panasonic Holdings have bet big on their spread and are continuing to invest, anticipating medium- to long-term growth.
"Our air-to-water business in Europe is facing a persistent market slowdown," said Hirokazu Umeda, executive vice president and group chief financial officer of Panasonic, in a July 31 briefing on April-June earnings.
