PROLooking for more than just a company report? Upgrade to Pro now

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

Active

Business ID 0301450108

84-28 / 6250 4888 / +84 1800 6777

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

Active

Business ID 0301450108

84-28 / 6250 4888 / +84 1800 6777

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

Active

Summary

Name:

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

Business ID (TIN):

0301450108

Date of Registration:

24 Jul 2000

Registered Office:

Ho Chi Minh City Department of Finance

Address:

No. 10, Cong Truong Quoc Te Street, Xuan Hoa Ward, Ho Chi Minh City, Vietnam

Phone:

84-28 / 6250 4888 / +84 1800 6777

Fax:

(84-28) 6250 4999

Financial Statement:

2020, 2021, 2022, 2023, 2024

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN DAIKIN AIR CONDITIONING VIỆT NAM): Cool Air, Cold Profits in Vietnam’s Electronics Market

The Cooling Giant That’s Losing Heat on the Bottom Line

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY, a subsidiary of the global DAIKIN INDUSTRIES group, has spent over two decades expanding its footprint across Vietnam. Known for its premium air conditioners and purifiers, the company operates in a high-demand sector that rides on Vietnam’s urban growth, rising middle class, and year-round hot, humid climate.

Yet while DAIKIN VIETNAM continues to generate nearly USD 400 million in annual sales, its profit plunged by nearly 80% in 2024, raising red flags about the company’s cost structure, market pressures, or internal challenges.

Growth Flatlines, Profits Collapse

DAIKIN VIETNAM’s total revenue for the fiscal year ending March 2024 came in at USD 399.9 million, down slightly by 0.3%, ending a streak of growth seen the previous year. More concerning, however, is the crash in net profit from USD 5.8 million in 2023 to just USD 1.18 million in 2024—a 79.64% decline.

This dramatic erosion in earnings occurred despite relatively stable sales and assets, which only fell by 0.91% to USD 360.7 million. The company’s equity barely grew, up by just 0.51%, suggesting retained earnings were minimal and pressure on margins intense.

This is a classic case of a market leader underperforming in profitability—not due to lack of demand, but likely due to cost escalations, competitive pricing, or internal inefficiencies.

Vietnam’s Consumer Electronics Market: Growth, But at a Cost

Vietnam is one of Southeast Asia’s fastest-growing consumer electronics markets. Air conditioner sales in particular have surged in the past decade, especially in urban centers like Ho Chi Minh City and Hanoi. Yet competition is fierce, with brands like Panasonic, Toshiba, LG, Gree, and Midea all fighting for shelf space and online sales.

This has led to aggressive discounting, rising after-sale service costs, and increasing demands for energy-efficient and environmentally friendly models—all of which may be squeezing DAIKIN’s margins in Vietnam.

Strong Structure, Still Foreign-Owned

DAIKIN VIETNAM operates across the country, with branches in Hanoi, Da Nang, and Can Tho, and is led by Japanese executive Mr. Junichi Omori. It employs 1,500 workers, and like most foreign-owned electronics ventures, it maintains manufacturing, distribution, and service capabilities.

The company is majority-owned by DAIKIN INDUSTRIES LTD. (Japan) and its Thai subsidiary, ensuring strategic control remains offshore. That model may provide access to global tech and capital, but could also slow local decision-making in a fast-moving market like Vietnam.

For Suppliers and Partners: Proceed with Clarity

Despite its scale and global backing, DAIKIN VIETNAM’s financial downturn suggests potential risks—especially for vendors, installers, and logistics firms entering long-term contracts. For those exploring partnership or supply opportunities, we strongly recommend using the Business Verification and Risk Management Service by Vanguard Business Information (VBI).

VBI provides exclusive private financial data, helping businesses assess risks beyond the surface metrics.

Final Thought

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY may be keeping Vietnam cool, but it’s under increasing financial heat itself. With slipping profits and flat growth, the brand needs to rethink cost controls, innovation, or market positioning if it wants to maintain its leadership. Until then, its financial temperature is worth watching—closely.

Legal Profile

English Name:

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

Vietnamese Name:

CÔNG TY CỔ PHẦN DAIKIN AIR CONDITIONING (VIETNAM)

Short Name:

DAIKIN VIETNAM

Business ID (TIN):

0301450108

Date of Registration:

24 Jul 2000

Registered Office:

Ho Chi Minh City Department of Finance

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

TAKASHI M

Address:

No. 10, Cong Truong Quoc Te Street, Xuan Hoa Ward, Ho Chi Minh City, Vietnam

Phone:

84-28 / 6250 4888 / +84 1800 6777

Fax:

(84-28) 6250 4999

Branch:

12th Floor, No. 1, Dao Duy Anh Street, Kim Lien Ward, Ha Noi City, Vietnam

Branch:

12th Floor, No. 2, Street 30/4, Hoa Cuong Ward, Da Nang City, Vietnam

Branch:

No. 37-38, Vo Nguyen Giap Street, Phu An Residential Area, Hung Phu Ward, Can Tho City, Vietnam

Branch:

No. 7, Lot 8A, Le Hong Phong Street, Gia Vien Ward, Hai Phong City, Vietnam

Branch:

No. 25-27, Nguyen Thanh Dang Street, Ba Ria Ward, Ho Chi Minh City, Vietnam

Business Sector

Key business lines:

VSIC:

2640 Manufacture of consumer electronics

NACE:

26.40 Manufacture of consumer electronics

NAICS:

3343 Audio and Video Equipment Manufacturing

Industry Sales Growth

CAGR (2019 - 2023)

10.58%

YoY (2023)

15.71%

Companies by industry

Company distribution and propportions

755

0.0260%

Key Industry Players

Top 10 companies in manufacture of consumer electronics industry

anam electronics viet nam co., ltd lg electronics vietnam hai phong co., ltd samsung electronics hcmc ce complex co., ltd tcl smart device (viet nam) company limited amtran vietnam technology company limited goertek technology vina company limited bumjin electronics vina co.,ltd competition team technology (vietnam) company limited tonly electronics technology viet nam co.,ltd pegatron vietnam company limited

Payment History

Purchase the report to access company details.

Financial Performance

Assets	-11.58%
Owner’s Equity	-42.08%
Working Capital	-75.49%
Net Worth	85.14%
Sales	-45.98%
Operating income	99.08%
EBIT	-33.86%
Gross Profit Margin	96.06%
Debt to EBITDA	-42.28%

📈 📊

Company Reports

Company Profile Report

Legal Profile

Contact and Location

Legal Representative

Shareholders

Business Operation

Assets

Owner's Equity

Sales

Profit

Company Standard Report

Legal Profile

Business Locations

Legal Representative

EBT

EBITDA

Working Capital

Tangible Net Worth

Financial Ratios

Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Comprehensive Report

Report Summary

Legal Profile

Historical Information

Business Locations

Subsidiary and Affiliated Company

Management and Directors

Shareholders

Business Operation

Suppliers

Buyers

Credit Limit

Industry Information

Key Industry Players

Competitors

Negative Payment Records

Banking Information

Litigation Records; Negative News

Financial Ratios

Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Opinion from Analysts

Specific Questions About DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

When did DAIKIN AIR CONDITIONING (VIETNAM) JSC start operating?

DAIKIN AIR CONDITIONING (VIETNAM) JSC was started in 24 Jul 2000

What industry does DAIKIN AIR CONDITIONING (VIETNAM) JSC operate in?

DAIKIN AIR CONDITIONING (VIETNAM) JSC is operating in "Manufacture of consumer electronics" industry

How can I contact DAIKIN AIR CONDITIONING (VIETNAM) JSC?

DAIKIN AIR CONDITIONING (VIETNAM) JSC phone numbers is 84-28 / 6250 4888 / +84 1800 6777

What adverse news is there about DAIKIN AIR CONDITIONING (VIETNAM) JSC?

DAIKIN AIR CONDITIONING (VIETNAM) JSC’s has no negative news

What is stock symbol of DAIKIN AIR CONDITIONING (VIETNAM) JSC?

DAIKIN AIR CONDITIONING (VIETNAM) JSC is not listed company

Where is the location of DAIKIN AIR CONDITIONING (VIETNAM) JSC?

DAIKIN AIR CONDITIONING (VIETNAM) JSC is located at No. 10, Cong Truong Quoc Te Street, Xuan Hoa Ward, Ho Chi Minh City, Vietnam

What is DAIKIN AIR CONDITIONING (VIETNAM) JSC’s business registration?

DAIKIN AIR CONDITIONING (VIETNAM) JSC business registration is 0301450108

My Order (0)

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY

DAIKIN AIR CONDITIONING (VIETNAM) JOINT STOCK COMPANY