3.3 JAPAN

According to the Economic and Social Research Institute (ESRI), Cabinet Office, Government of Japan, the real GDP growth rate in fiscal year 2018 (end of March 2019) was 0.7%. A breakdown of central air conditioning system shipments in 2018 shows that positive-displacement type chillers, centrifugal chillers, absorption chillers, AHUs, and FCUs increased by 5.1%, 30.1%, 9.4%, 4.7%, and 7.5% respectively.