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The Chillers on the Roof — Datacenter HVAC Oligopoly · The Cooling Crisis — Liquid Cooling, CDUs, Chillers & Refrigerants

6367.T

Daikin Industries
Foreign listing — not directly tradable in a US brokerage. Editorial detail only.

Global #1 HVAC by revenue. Elliott activist stake disclosed May 2026.

What they do

Global #1 HVAC manufacturer. Less datacenter-concentrated than the US names but a long-cycle quality compounder. Elliott Management disclosed an activist stake in May 2026 — could force a US listing or capital-return acceleration. Japanese listing complicates US institutional ownership.