In this Research Note, we examine Azbil, a Japanese public company with a leading position in the domestic building automation market. The financial highlights and growth strategy analysis of the Building Automation business is based on their FY2023 annual results, year ending 31st March 2024, Annual Report 2023, and investor presentations. Azbil Building Automation Financial Highlights The Building Automation (BA) business provides air conditioning control technologies incorporated in numerous large-scale facilities, including office buildings, hotels, and shopping centers. They are used to conduct detailed measurements of temperature, humidity, and other factors and control facilities and equipment in a manner that delivers comfort and energy savings. The BA business, the largest of three business units, accounts for 46.3% of consolidated net sales for the Azbil Group. Azbil Presentation, 13 May 2024 BA sales, year ending 31 March 2024 increased 4.7% year-on-year to 134.65 billion yen (around USD $861 million). Segment profit increased to 19.3 billion yen, […]