Impact of the new Corona Daikin expects to reduce operating income by 76% for half a year

New Corona affected Daikin Half-year operating profit forecast of 76% decrease May 12 20:39

A major air conditioning equipment manufacturer, Daikin Industries, announced that operating income for the half year to the end of September will decrease by more than 76% from the same period of the previous year due to the influence of the new coronavirus.

Daikin Industries, Ltd. held a press conference on the 12th and announced the financial results for one year until the end of March this year.

As a result, due to the spread of the infection, production in China ceased from February, and local sales also fell, so operating profit, which shows the profit of the main business, was 265.5 billion yen, which was the same as the previous year. It was 3.9% less than the above.

Earnings declined for the first time in 10 years since the fiscal year ended March 31, 2010, which was affected by the Lehman shock.

In addition, we also announced the business outlook for the current fiscal year.

This means that operating income for the half year to the end of September is expected to decrease by more than 76% compared to the same period the previous year due to the spread of infection.

In order to respond to the long-term impact, the company is preparing to raise a total of approximately 670 billion yen by financing facilities and borrowing from financial institutions.

Masanori Togawa, president of Daikin Industries, said at a press conference, "We are preparing for the worst case that the impact will last for a year. We want to flexibly respond to the ever-changing situation." ..