News Release

Global: Joint Venture Established for AC Subscription Business in Immature Market

Daikin Industries, Ltd. and WASSHA Inc. have recently established a new company, Baridi Baridi Inc., to conduct an air conditioner subscription business.

The joint venture between Daikin Industries and WASSHA capitalizes on Daikin’s air conditioners, which are known for their excellent durability, high efficiency, and low environmental impact, and on the company’s capabilities for building service networks. These strengths complement WASSHA’s expertise in payment collection technology using mobile money and business development in East Africa. Together, the two companies are striving to commercialize a subscription system in which users can use air conditioners whenever they want and pay a usage fee by smartphone on either a daily, weekly, or monthly basis. The purpose is to promote general use of air conditioners among people in income groups who previously could not have purchased air conditioners. The companies plan to first develop a business in the United Republic of Tanzania and then in the future expand the business to not only Africa but also to other immature markets around the world.

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