Daikin: Completion of the Goodman Acquisition

  Daikin: Completion of the Goodman Acquisition

Business Wire

OSAKA, Japan -- November 02, 2012

Daikin Industries, Ltd. announces the completion of its acquisition of Goodman
Global Group, Inc. (Head Office: Houston, Texas, USA – hereinafter "Goodman"),
which was announced on August 29, 2012, for a purchase price of 3.7 billion
dollars (including the refinancing of Goodman's existing indebtedness) as of
November 1, 2012 (US time). In the two months since the signing, Daikin
obtained the regulatory approvals from relevant authorities necessary for
consummating the acquisition.

Combining the state-of-the-art environmental technology of Daikin with the air
conditioners of Goodman, Daikin plans to use this acquisition to launch
advanced environmentally-friendly products in the US residential and
commercial HVAC markets. In doing so, the company hopes to initiate a new wave
of growth that sustains both business expansion and contribution to the
environment.

Furthermore, Daikin hopes to improve competitiveness even further by
capitalizing on Goodman's lean management know-how to develop business in
emerging economies and high-volume markets and restructure the earning power
of the Daikin Group overall, including activities in the advanced economies.

To quickly generate synergies between the companies while maximizing the
advantages of the complementary relationship between Daikin and Goodman and
accelerating further growth and development of both companies, we have begun
formulating and implementing concrete action plans.

In regards to Daikin's consolidated financial results, the acquisition will be
reflected in the consolidated balance sheet for fiscal year 2012 and in the
consolidated income statement from fiscal year 2013.

Contact:

Daikin Contacts:
Corporate Communication Dept.
ACandH@daikin.co.jp
or
Daikin US Corp.
Kosei Uematsu, +1 (212) 340-7400
kosei.uematsu@daikin.co.jp
or
Goodman Contact:
Rex Anderson, +1 (713) 263-5064
Rex.Anderson@goodmanmfg.com