Company Overview
The main business of Shin Nippon Air Conditioning <1952> is the design and construction management of building equipment, primarily air conditioning systems. It originated in 1930 when it partnered with USA Carrier Global Corporation <CARR> and was established as Toyo Carrier Engineering Co., Ltd. Before the war, it was the first in the world to install air conditioning in all trains of the express "Asia" on the South Manchuria Railroads and also achieved the world's first complete air conditioning on a ship, the "Kouan Maru" ferry.
After the war, in 1957, it installed Japan's first reactor air conditioning at the Japan Atomic Energy Research Institute (Tōkai Village, Ibaraki Prefecture), and in 1968, it installed the air conditioning system for Japan's first skyscraper, the "Kasumigaseki Building." In 1969, the construction department of Toyo Carrier Engineering was separated and became Shin Nippon Air Conditioning Co., Ltd. (SNK).
Following this, as domestic construction demand increased, the company expanded its performance. In 2003, it established a local corporation, Shin Nippon Air Conditioning Engineering (Shanghai) Co., Ltd. (now Shin Nippon (China) Construction Co., Ltd.) in China, in 2008 it established a local corporation, SHIN NIPPON LANKA (PRIVATE) LIMITED in Sri Lanka, and in 2010 it set up a local corporation, SHIN NIPPON AIRTECH (SINGAPORE) PTE.LTD in Singapore. In 2024, it will establish Shin Nippon (Hong Kong) Construction Co., Ltd. in Hong Kong, accelerating its overseas expansion.
Regarding stocks, it was listed in 1990 on the second section of the Tokyo Stock Exchange (hereinafter referred to as TSE), and in 1993 it moved to the first section. It is currently listed on the TSE Main Board.
(Written by FISCO guest analyst Noboru Terashima)