Daikin Industries is buying Goodman Global in a deal that will fortify its status as the world's biggest maker of residential heating, ventilating and air conditioning systems.
Daikin, based in western Japan's Osaka, said Wednesday its board approved the $3.7 billion deal for the Houston company as part of its expansion in the U.S. residential market.
Daikin wants to broaden its manufacturing and sales overseas, especially in emerging markets. It said it would draw on support from a Japanese government initiative to help offset the impact of the strong Japanese yen on exports to help finance the deal.
Daikin is already the world's biggest HVAC maker, with over 1.2 trillion yen ($15 billion) in sales in 2011. Acquiring Goodman would put it even further ahead of the world's No. 2 maker, China's Zhuhai Gree Group, with sales of about $13.3 billion.
Goodman's president and CEO, David L. Swift, said the purchase would help Goodman to likewise expand its sales outside the U.S.
China's television regulator has ordered a crackdown on dramas about the country's battles with Japan during and before World War Two and demanded they be more serious, state media said on Friday, following viewer complaints about ludicrous storylines. (Reuters )
Shukan Post (May 24) conveys the difficulties experienced by other parts of the adult-entertainment biz in servicing customers from the communist nation.
A deri heru (“delivery health”) call-girl tells the tabloid that she is often requested to arrive at major hotels in the Shinjuku and Ikebukuro entertainment areas of Tokyo by Chinese visitors. (Tokyo Reporter)
Police on Friday said that a real estate company employee was stabbed by an unknown assailant in the lobby of an office building near JR Akihabara station. The man is currently in a serious condition in hospital. (Japan Today )