May 30, 2024

Daikin and Miura Enter a Capital and Business Partnership
Daikin Industries, Ltd., a leading global HVAC&R manufacturer, and Miura Co., Ltd.,an industrial boiler manufacturer, announced their decision to enter a capital andbusiness partnership at a board of directors meeting of both companies held on May30, 2024.
Under this partnership, Daikin will invest in Miura and acquire 4.67% of its
outstanding shares, while Miura will invest in Daikin Applied Systems Co., Ltd., a wholly
owned subsidiary of Daikin, and acquire a 49% share of the company. Leveraging thebusiness networks of both companies, including products, technologies, and services
enable them to get involved in the equivalent of 50% of the total energy used at a single
factory in some industries. Likewise, the companies intend to provide one-stop, totalsolution proposals related to heat, air, and water that include air conditioning, steam
boilers, and water treatment systems at factories across Japan. Concrete measuresfor collaboration between the companies will soon begin to achieve carbon neutrality
in the factory market.
Daikin, operating in more than 170 countries and regions worldwide, manufacturesand sells air conditioning products with high energy efficiency that utilize environmental
technologies such as heat pumps and inverters. Additionally, the company develops
products customized to the unique characteristics and market applications of each
global region and is continually working to improve solutions to meet the precise needsof its customers. Daikin Applied Systems offers a variety of proposals corresponding
to different factory types including food, pharmaceuticals, chemicals, and electricalmachinery, aiming for the ideal manufacturing site relating to air and heat products,
such as laboratory cooling and heating equipment, industrial air conditioning
equipment, environmental test rooms, and clean rooms.
Similarly, Miura is a leading company for industrial boilers in Japan. It manufactures,
sells, and maintains steam boilers, which are used as heat sources in factories,
buildings, hospitals, and various areas of daily life, along with equipment used in water
treatment, food production, and medicine. In Japan, it has over 1,200 field engineers
who understand their customers’ factories, perform equipment maintenance, andpropose optimal thermal solutions to customers.
Recently, countries and companies are accelerating efforts to achieve carbon
neutrality. Because factories account for a large proportion of electricity consumption
and CO2 emissions, there is an urgent need to introduce systems that conserve energy
and utilize renewable energy.
This partnership will focus on the extensive range of Daikin energy-saving andenvironmentally conscious air conditioning, refrigeration, and heating-related products
while utilizing the engineering capabilities cultivated by Daikin Applied Systems. With
Miura’s field service capabilities, such as proposals and equipment operation andsupport, the synergy between the companies will lead to resolving issues for improving
energy savings and reducing CO2 emissions at factories. In this way, Daikin and Miura
look to accelerate the challenge of reducing unintentional heat losses to zero, byenabling various usage of waste heat at industrial heat utilization sites, which are all
unique to each and every factory.
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In the future, Daikin and Miura will expand the solutions developed at factories inJapan to other regions to contribute to the decarbonization of factories around theglobe.
[Summary of Daikin Industries]
Name:
Daikin Industries, Ltd.
Establishment:
October 25, 1924
Head Office:Osaka, Japan
Representative:
Masanori Togawa, President and CEO
Capital:85 billion yen
Employees:
98,162 people (Consolidation)
Main businesses:
Air conditioning and refrigeration equipment, fluorochemicals,
hydraulic equipment and parts, etc.
[Summary of Daikin Applied Systems]
Name:
Daikin Applied Systems Co., Ltd.
Establishment:
June 29, 2004
Head Office:Minato Ward, Tokyo
Representative:
Takashi Mishina, President
Capital:
300 million yen, a wholly owned subsidiary of Daikin Industries
Employees:
550 people
Main businesses:
Services and engineering for air conditioning and coolingsystems for industrial use such as factories.

[Summary of Miura]
Name:
Establishment:
Head Office:Representative：
Capital:Employees:
Main businesses:

Miura Co., Ltd.
May 1, 1959
Matsuyama City, Ehime Prefecture
Tsuyoshi Yoneda, President, CEO & CTO
9.5 billion yen
6,135 people (Consolidation)
Manufacture, sale, and maintenance of small once-throughboilers, auxiliary marine boilers, exhaust gas (waste heat)boilers, water treatment equipment, food equipment, sterilizers,
chemicals, etc., and environmental measurement certification

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