OSAKA -- Matsushita Electric Industrial Co. and Daikin Industries, Ltd. announced plans Monday to collaborate in the air conditioning business that will include establishing a joint venture company in April.
The new company will focus on the research and development of environmentally friendly technologies, the two companies said.
As Matsushita is a leading manufacturer of household air conditioners and Daikin supplies the most commercial-use conditioners in Japan, the two firms hope the union will allow them to become the world's leading producers of air conditioners.