Investment Firm Pushes for Changes at Daikin Industries

As of April 2026, the activist firm <annotation>Elliott Investment Management</annotation> has launched a campaign targeting <annotation>Daikin Industries</annotation>, the global leader in air conditioning.

Despite its market dominance, Elliott argues that Daikin is significantly undervalued compared to competitors like Carrier Global.

Holding a ~3% stake, the firm is pushing for structural and financial reforms to unlock value.

First, they aim to boost the company’s operating profit margin from 7–8% to 14% through improved operational efficiency and facility consolidation.

This campaign marks a significant shift in Japanese activism, moving from targeting hidden assets to directly challenging a company’s core operational performance and long-term strategy.