Showing CAREL's intention to increase its focus on the Japanese market, on 10 July the Italian multinational announced its 100% acquisition of CAREL Japan.
CAREL previously held a 49% stake in CAREL Japan, a distribution company established in 2013. In 2017, CAREL Japan reported sales of 59,213,582 yen (around 455,000 euros).
The company, based in Fukuoka and currently headed by Tadao Sekiguchi, is now planning to relocate to Tokyo.
“I am very pleased to have been offered this position and I am ready to do my best to promote further development of our business in Japan,” Sekiguchi said.
Energy efficiency driving business in Japan
Alberto Catullo, regional CEO for CAREL APAC North, told this website that CAREL sees an opportunity to grow its business in Japan in view of the country's increasing focus on energy efficiency and natural refrigerant-based technology.
"Our vision for environmentally sustainable control solutions is quite aligned with the direction of the HVAC and refrigeration market in Japan," said Catullo.
"We commend the Japanese government for promoting the conservation of energy and the conversion to natural refrigerants. With this acquisition, we intend to devote even more focus to this important part of the world, while a closer presence in the market will also enable us to better understand the needs of local customers,” he said.
CAREL sees natural refrigerant technology as playing a key role in promoting energy efficient and innovative technology to its customers. At the HVAC&R Japan 2018 trade show, Shibata Welding Construction Co. (SWC) debuted its' Natural Series' CO2 transcritical booster system for industrial refrigeration. CAREL Japan was originally established in 2013 as a joint venture between CAREL and SWC.
Catullo said: “CAREL will continue to support SWC and their equipment with our know-how and CO2 solutions."
"SWC has been instrumental in leading change in the market and in supporting CAREL Japan from its inception in 2013. We appreciate and respect such a partner and we will continue to support them as we continue to promote our innovative solutions in Japan."
We commend the Japanese government for promoting the conservation of energy and the conversion to natural refrigerants." - Alberto Catullo, regional CEO, CAREL APAC North
Going forward, Catullo said the team is currently focused on ensuring a smooth transition period and also on moving offices from Fukuoka to Tokyo.
"We think this move will allow us to better serve our goal of expanding the business," said Catullo.
"From there, the team will focus on promoting our vertical solutions for refrigeration applications, with a particular focus on energy efficient technologies like electronic expansion valves and BLDC (brushless DC) inverters used in food service and food retail applications, which are also compatible with natural refrigerants."
