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Occurring Fact6367DAIKIN INDUSTRIES,LTD.Machinery

Notice Regarding the Filing of Litigation in the United States Against the Company and Its U.S. Subsidiary

DAIKIN INDUSTRIES,LTD. and 4 U.S. subsidiaries have been named as defendants in 4 putative class actions seeking damages and other relief over alleged price inflation of HVAC products sold in the United States. The complaints have not yet been formally served, and the amounts claimed and impact on financial results have not been determined.

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Filing of litigation in the United States against DAIKIN INDUSTRIES,LTD. and its U.S. subsidiaries

Subject Entity

DAIKIN INDUSTRIES,LTD., Daikin Comfort Technologies North America, Inc., Daikin Applied Americas Inc., Thermal-Netics LLC and Goodman Distribution, Inc. (now Daikin Comfort Technologies Distribution, Inc.)

Target Locations / Products

HVAC products sold in the United States

Occurrence20 April 2026, 21 April 2026, 22 April 2026 and 30 April 2026 (all local time)
Same day
Litigation / administrative actionFirst action: 20 April 2026; second action: 21 April 2026; third action: 22 April 2026; fourth action: 30 April 2026 (all local time)
This disclosure05/14/2026
Cause

The plaintiffs allege that they suffered damages because the defendant companies conspired to improperly raise the prices of HVAC products, among other claims.

Related procedures

Type

4 putative class actions in the United States District Court for the Eastern District of Michigan

Court or authority

United States District Court for the Eastern District of Michigan

Plaintiff

The plaintiff class represented by Richard Isom, the plaintiff class represented by Precision Plumbing, Electrical, Heating & Cooling Inc., the plaintiff class represented by Safford’s Heating, Cooling, and Refrigeration, and the plaintiff class represented by Reliable AC Services LLC

Defendant

DAIKIN INDUSTRIES,LTD., Daikin Comfort Technologies North America, Inc., Daikin Applied Americas Inc., Thermal-Netics LLC, Goodman Distribution, Inc. (now Daikin Comfort Technologies Distribution, Inc.) and other co-defendants

Outlook

If the Company is formally served with the complaints, it will review the plaintiffs' allegations and claims and respond appropriately. In addition, the Company, its subsidiaries or its affiliates may be subject to lawsuits of the same type as these actions.

Planned follow-up disclosure

The Company will promptly disclose any material matters that arise in the future.

Event that occurred
ItemDetails
Event nameFiling of litigation in the United States against DAIKIN INDUSTRIES,LTD. and its U.S. subsidiaries
Date of occurrence20 April 2026, 21 April 2026, 22 April 2026 and 30 April 2026 (all local time)
Subject EntityDAIKIN INDUSTRIES,LTD., Daikin Comfort Technologies North America, Inc., Daikin Applied Americas Inc., Thermal-Netics LLC and Goodman Distribution, Inc. (now Daikin Comfort Technologies Distribution, Inc.)
Target Locations / ProductsHVAC products sold in the United States
CauseThe plaintiffs allege that they suffered damages because the defendant companies conspired to improperly raise the prices of HVAC products, among other claims.
Type of litigation or proceeding4 putative class actions in the United States District Court for the Eastern District of Michigan
Court or authorityUnited States District Court for the Eastern District of Michigan
PlaintiffThe plaintiff class represented by Richard Isom, the plaintiff class represented by Precision Plumbing, Electrical, Heating & Cooling Inc., the plaintiff class represented by Safford’s Heating, Cooling, and Refrigeration, and the plaintiff class represented by Reliable AC Services LLC
DefendantDAIKIN INDUSTRIES,LTD., Daikin Comfort Technologies North America, Inc., Daikin Applied Americas Inc., Thermal-Netics LLC, Goodman Distribution, Inc. (now Daikin Comfort Technologies Distribution, Inc.) and other co-defendants
Date of filing / date of actionFirst action: 20 April 2026; second action: 21 April 2026; third action: 22 April 2026; fourth action: 30 April 2026 (all local time)
OutlookIf the Company is formally served with the complaints, it will review the plaintiffs' allegations and claims and respond appropriately. In addition, the Company, its subsidiaries or its affiliates may be subject to lawsuits of the same type as these actions.
Planned follow-up disclosureThe Company will promptly disclose any material matters that arise in the future.
Items this document does not state (13)
Date recognized / date notice receivedAmount of Impact on Business PerformanceAccounting period in which recognizedImpact on Earnings ForecastClaim amount / surcharge amountAmount of receivables at risk of non-collection or delayed collectionSuspended operationsScheduled resumption dateInvestigation structureMeasures to prevent recurrenceDirectors' and officers' liabilityVoting rights ownership percentage before the changeVoting rights ownership percentage after the change

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The plaintiffs allege that the defendant companies conspired to improperly raise the prices of HVAC products in the United States, causing them to suffer damages, among other claims.

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Notice Regarding the Filing of Litigation in the United States Against the Company and Its U.S. Subsidiary | DAIKIN INDUSTRIES,LTD. (6367) timely disclosure | Komori