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Companies worldwide are beset by the very near-term threat of the coronavirus and the long-term specter of climate change. Air conditioning giant Daikin Industries Ltd. might be one of the few companies that stands to benefit from both.

Nearing a market value of ¥5 trillion ($47 billion), the world’s largest maker of air conditioners is riding an almost uninterrupted eight-year streak that has seen its shares surge more than 700 percent. It’s now the 19th largest stock on the Topix and has also beat the broader index by 15 percentage points this year.

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