• Kyodo

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Daikin Industries Ltd. said Thursday that it has set up an air conditioner sales company in Saudi Arabia in a joint venture with a local investment firm to boost sales in the country, the largest air conditioner market in the Middle East.

The new firm, Daikin Air Conditioning Saudi Arabia LLC, based in Riyadh, is aiming to increase its share to 20 percent by fiscal 2018 from several percent at present as Daikin has been falling behind U.S. and South Korean manufacturers in the country.

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