Japanese AC Manufacturers Fight against Strong Headwinds

In Japan, many companies reached their closing month in March and announced their financial results for fiscal year 2020 (FY; ending March 2021). Looking at those reports, it emerges that Japanese air conditioner manufacturers have performed well amid the ongoing severe economic conditions worldwide, due to the effects of the ongoing COVID-19 pandemic. Although the impact of lockdowns was severe in the first quarter of FY 2020, many manufacturers have been gradually recovering since then.