Does Daikin just sell air conditioners?
Daikin generated ¥5.0150 trillion of sales in FY2025. Air Conditioning and Refrigeration Equipment contributed ¥4.6211 trillion, about 92.1% by site calculation, so HVAC is overwhelmingly the economic core. But the HVAC business is more than finished equipment. Daikin identifies inverters, refrigerants and heat pumps, global sales/service networks and market-oriented local production as core strengths. Cumulative Daikin sales of R32 air conditioners exceeded 66 million units by March 2026. Solutions already represented 28% of Air Conditioning business sales in FY2025, spanning replacement projects, engineering, maintenance, parts and energy/operations management. FUSION 30 aims to lift that ratio to 40% by FY2030. Daikin is therefore better understood not as a company moving away from air conditioning, but as one adding technology and lifecycle-service layers around an overwhelmingly HVAC-centered business.