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 FY2025 outlook for the Building Automation business are based on their FY2024 annual results, year ending 31st March 2025, investor presentation, 13th May 2025, Annual Reports, and Memoori analysis. See our previous coverage of Azbil in May 2024. Azbil Building Automation (BA) Profile The BA business creates building environments that balance comfort with energy saving, and over the long term provides services tailored for a building’s life cycle. The business environment is characterized by: Large-scale construction projects in Japan and Asia Growing demand for retrofitting buildings in Japan Increasing needs for energy-saving and CO2 emission reduction as decarbonization progresses Business opportunities are expanding to meet the demand for both carbon neutrality and wellness. The BA business, the largest of three business units, accounts for over US$1 billion in revenues, 49.5% […]