Mitsubishi Electric welcomes the year of the dragon with proactive business plan announcement launching new XY Series inverter system air conditioner with "Fast Cooling Plus" technology

• Aiming to retain leadership in air conditioning market and penetrate B2B market with complete solutions.

Mitsubishi Electric Kang Yong Watana (MKY) strives to retain its room air conditioner market leadership by heavily investing in marketing promotion campaigns as well as continuously expanding customer base. The company will continue to drive its music marketing strategy effort success reinforcing brand quality strengths with the appointment of Nont - Tanont Chumroen as its brand presenter to broaden the reach and brand engagement among young generation consumers for the second consecutive year. The company will also launch a new XY Series inverter system air conditioner with "Fast Cooling Plus" technology as a perfect lifestyle solution and new high quality "Premium Series" refrigerator with outstanding food preservation technology. In addition, the company will actively and sustainably grow its business by speedily driving its B2B business.

Mr. Shinji Kamiya, Managing Director of Mitsubishi Electric Kang Yong Watana Company Limited, revealed "During 2023, the air-conditioning and home appliances market had faced delay in economic recovery which was not in line with the forecast.  However, the very hot weather during Songkran led to the forecast of fiscal year 2023 (April 2023 - March 2024) sales growth over 10% from last year."

"We continue to retain highest market shares in the main product categories such as room air conditioner, water pump and ventilator from last year.  In addition, our brand building activities have helped us gain consumers' trust and Mitsubishi Electric has consecutively been voted No. 1 most trusted brand by the leading business magazines in Thailand namely Marketeer and BrandAge in room air conditioner and water pump categories."

"For fiscal year 2024, the company is committed to the key business conducts through the distribution of air conditioners, home appliances and other services in line with the company's missions emphasizing on our products, services and other activities being able to benefit the consumers by offering convenience and comfort in daily lives as well as providing development and solving social issues to the Thai society."

"This year, the company has projected to maintain the overall sales growth of over 10%. To achieve such growth, we will focus on 4 main areas that are 1. our product activity will concentrate on adding varieties or line-ups as well as more outstanding functions to our product categories especially the energy saving effectiveness of room air conditioners will be upgraded according to the government's recently announced energy saving measures, 2. The company has set aside about 1.2 billion Baht for marketing budget focusing on raising brand value to enhance brand recognition and awareness as well as utilizing more PR, advertising and co-promotion activities with dealers, 3.  For commercial business this year, the company recognize that this business segment will be the foundation in building our future growth. So, we have determined sales and marketing systems to support our business negotiations in the provincial area. At the same time, we will develop our business solutions to better serve our clients' requirements, particularly the air-conditioning and ventilation systems which are our core strengths and, 4. For the after-sales service area, the company will concentrate on raising customers' satisfaction and developing data transmission system such as speedily taking repair order from customers as well as raising the technician skill to enable quality aftersales service delivery.

From all mentioned strategies, we believe that our business will continue to gain trust in product distribution under Mitsubishi Electric brand. This year, we will continue to strive for the better so our products will truly be the most wanted brand by Thai consumers."

Regarding aftersales service strategy for the fiscal year 2024, Mr. Praphon Potivorakun, MKY's Deputy Managing Director, said "The company plans to invest in necessary resources such as online service system technology development to increase service capacity, personnel capabilities development to enable them to effectively serve both Mitsubishi Electric's B2C and B2B customers. We will also invest in modern tools and equipment such as stocking product spare parts both for head office and over 40 authorized spare parts dealers to ensure spare part availability for customers. In addition, we will strengthen the capability of authorized service centers nationwide to facilitate standardized after-sales service for Mitsubishi Electric customers nationwide. Moreover, we also have various channels to better serve the customer via hotline 1325, Facebook and Line Official Account: Mitsubishi Electric for customers to contact the service center every day."

"Besides, the company also plans to become excellent in terms of knowledge and skill development for technicians to be certified as Residential and Light Commercial Air-Conditioning Technician level 1. All technicians at the headquarters of Mitsubishi Electric Service Center have been tested and certified as such. In 2024, we will drive through raising technicians' capabilities to be in the same level and standard at all authorized service centers nationwide. On the other hand, the company have taken part in uplifting the air-conditioning industry to international standards by continuing to conduct Bilateral High Vocational Certificate Course in Cooling and Air-conditioning System, Power Electricity for 12th consecutive years in cooperation with several leading technical college. Our skilled technicians will teach and transfer knowledge and technology regarding cooling and air conditioning system to the technical college students to equip them with knowledge and professional skill enabling them to make a living after course completion."

"For B2B clients, we have skills and complete solutions for both air-conditioning products and ventilation systems for residential and large commercial projects. We have teams of project engineers and technicians as well as several branches of Mitsubishi Electric City Multi Customer Support Office (CMS) for before and after-sales services across the country. On top of that, we are prepared to work alongside our dealers from the start until project completion and be a part of our success and growth."

Mr. Shizuo Nakatsukasa, MKY's Director & General Manager - Marketing and Sales Division said "The company is confident that the room air conditioner sales in the fiscal year 2023 would growth over 30%. As for marketing strategies in the fiscal year 2024, our company is committed to strongly deploying all measures to achieve our 2024 sales targets. We have clearly defined our B2C sales strategies for each product line-up. For room air conditioner, we will focus on offering technology catering to Thai consumers' needs such as fast cooling, energy saving and environmental-friendly. In the refrigerator line-up, we will promote the sales of high-quality products and will enhance the awareness of the interesting, improved values of "premium series' refrigerators. In addition, for B2B businesses, we will emphasize the main operational systems to achieve the target growth including expanding business boundaries (expand product line-ups) and strengthening the sales in CAD (City-Multi Sales Authorized Dealer) by providing full support in presenting customized solutions to clients."

"In this year, we have developed a comprehensive marketing communications plan including new TVC campaign with Nont -Tanont as brand presenter for the 2nd consecutive year. We will continue to deploy music marketing strategies and capitalize on the success of enhancing brand awareness and engagement last year. This year, we will continue to target first-income workers, and medium income earners group. In addition, we will concentrate on PR and advertising particularly through social media and online platforms by creating content directing at each target group. At the same time, the company will also communicate through both offline and online media in parallel with reinforcing sales growth with sales promotion campaigns in conjunction with our dealers."

The company strives to take part in elevating convenience in consumers' daily lives through offering high quality and reliable products that are durable and energy-saving according to EGAT's new measures including

• Mitsubishi Electric Mr. Slim Inverter XY Series with latest "Fast Cooling Plus" technology for faster cooling once the air-conditioner starts working. It comes with detecting sensors calculated from temperature in the room to adjust coolness and wind-flow most suitably and automatically for highest comfort of the users at such time. GY Series model has been re-designed for more luxury and energy efficiency. In addition, all inverter-system air-conditioning models have been equipped for better air quality with V-Air Filter and PM 2.5 Filter that are specifically designed for virus and bacteria elimination as well as PM 2.5 trapping. All functions are developed with the users' healthiness in mind.
• The "Premium Series" of Mitsubishi Electric refrigerators are superior in quality and outstanding in its food preservation and durability. There are 7 models in 5 Series. For example, Mitsubishi Electric "HS Series" 2-door Refrigerator is outstanding in the larger freezer storage capacity and more convenient in use with multi-purpose and vegetable storing compartments in the middle of the fridge. This will be more convenient for users in grabbing food items while standing in front of the fridge. The special multi-purpose compartment in Mitsubishi Electric "Premium Series" refrigerator has been designed to enable temperature adjustment to "Chill" or "Soft Freezing" mode which is a special mode for defrosting meat or fish effectively. They can be taken out of the fridge and cooked instantly. This model is considered as a refrigerator that can preserve food longer. For 4-door refrigerator, we have developed new options for buyers by adding "Glass Dark Silver" which make 4-door refrigerators more luxuriously beautiful.
• Mitsubishi Electric's new semi-tabletop electric fan model has 2 new colors that are Blue Pastel and Green Pastel using smooth flat front grille for stronger and farer wind flow. R12-MC fan model with newly designed propeller which can be easily removed and cleaned with just one click. All Mitsubishi Electric fan models are very safe according to "premium safety" standards with 5-year motor warranty.
• Mitsubishi Electric water pump: to uplift users' trust, we have extended our motor warranty to 11 years. Mitsubishi Electric Water Pump is effective in heat distribution with aluminum motor structure that is highly durable and safe in line with premium safely standard.

"Another strategy that we focus on is creating ongoing brand awareness. Inheriting the concept of 2023, "Never Stop Striving for Excellence". In 2024, we will introduce a new concept of "The right air-conditioner paying attention to every detail". This means reflecting our attention to detail and continually reinforcing our brand identity. From that concept, the company has introduced 3 new TV commercials via Nont - Tanont, our brand presenter that conveys Mitsubishi Electric's intention to continuously develop technology. It will also convey the outstanding characteristics of each product. The storyline of TVCs is easy for brand recognition especially for Mitsubishi Electric Mr. Slim air-conditioner."

"0Deploying all the mentioned strategies to grow our business and create more options for new generation consumers, the company is confident that our marketing efforts will continue to be successful and drive our sales growth to reach our target. They will also broaden Mitsubishi Electric product penetration to better cater to the consumers' daily lifestyle which the company believes will in the end benefit Thai society", concluded Mr. Nakatsukasa.