Company Profile

Company Profile
At a Glance
MVV
Board and Executives
Financial Information
Global Footprint

Company Name Paloma Rheem Holdings Co., Ltd.
Head Office Marunouchi Trust Tower Main 7F, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo 100-0005
Representative Hiroaki Kobayashi, Representative Director and President
Founding February 1911
Establishment October 2023
Business Activities Formulation and execution of group-wide business strategies and governance functions
Number of Group Employees 19,037 (worldwide, as of December 31, 2024)

At a Glance

One of the world's leading corporate groups involved in both air conditioning and water heating businesses

●Air

Leading Company in North America HVAC

●Water

Water Heater Market Leader in US and Japan

●History

1911Paloma Established

1988Rheem Acquired

2002Rheem Australia Acquired

2013 HTPG Acquired

2015Eemax Acquired

2016GENERAL / Rheem Alliance

2019INTERGAS Acquired

2021FRIEDRICH Acquired

2022DE JONG Acquired

2024 Transition to Holdings Structure

2024NGH Acquired

MVV

MISSION

Heat. Cold. Water. Air. These are the essential elements of life, vital to keeping us alive and making sure we stay comfortable and productive. These are the elements that we transform into meaning every day through innovative design, creation and delivery. And they are what we aspire to take to every corner of the planet as we grow with purpose.

VISION

We are connected by the elements of life.

Everyday is made up of many different elements. How we focus on our customers, how we treat each other, how we innovate and collaborate, how we manufacture and how we impact our environment. When our elements come together, we are connected on a global scale. It is through this connection that our mission is fully realized.

VALUES

Listen to understand (hearing)

I listen with an open mind.
I learn from the expertise of those around me.
I accept feedback as an opportunity to learn.
I embrace the overall objective in addition to my own goals.

Contributing respectfully (speaking)

My opinions and solutions matter, and I’m encouraged to share them.
My ideas are valued.
I share opposing perspectives in a respectful manner.
I apply my full effort to every task.

Thinking creatively (thinking)

I apply creativity and ingenuity to my work.
I find new ways of approaching my work, because I’m always searching for ways to improve.
I look at challenges from the perspective of clients and the environment as well as from my own perspective.

Acting with responsibility (doing)

I am responsible for the impact of my decisions and actions.
I am inspired every day to perform with integrity, responsibility, and passion.
I embrace accountability because I believe in what I do.
As I meet my short-term commitments, I maintain a long-term focus.

Board and Executives

Representative Director and President Hiroaki Kobayashi

Representative Director and President Hiroaki Kobayashi
Hiroaki Kobayashi joined Paloma in April 1992, moving to the U.S. that same year and spending four years at Rheem, the U.S. company Paloma acquired in 1988, where he was actively involved in integrating the two businesses. After returning to Japan, he became a director of Paloma in 1997, and in 1999 added the role of head of the sales planning department to his portfolio of duties. He became a senior managing director in 2002, and president of Paloma in 2005, a position he holds to this day. When Paloma Rheem Holdings was established in October 2023, Hiroaki was appointed president of that entity. Hiroaki passionately believes in the importance of Paloma and Rheem giving back a portion of their profits to society and, in 2010, established the Paloma Environmental Technology Development Foundation—which provides research grants to academic institutions and sponsors government-led consumer safety campaigns. Hiroaki is also actively involved in personal philanthropy. This includes donating medical equipment to local hospitals and funding several needs-based scholarship programs in Japan.
Director JR Jones
Director JR Jones JR Jones currently serves as Rheem’s Executive Chairman, where he is responsible for Rheem's vision and strategy. He has 40 years of experience in HVAC and water heating general management, product planning and development, strategic leadership, product marketing, and international business management. Prior to being appointed Executive Chairman, JR served as President and CEO of Rheem between 2008-2018. Before his tenure at the helm of Rheem, he held leadership roles as COO and President of both the Air Conditioning and Water Heating Divisions.
Director Yukimasa Kitano
Director Yukimasa Kitano Yukimasa Kitano has more than 37 years of experience in the accounting industry, most recently as the partner in charge of audit for KPMG’s US Japanese Practice. He provided financial statement audit, system consulting, performance improvement advisory and due diligence services to numerous global clients in various industries including technology, manufacturing and distributions. After he retired from KPMG in 2023, he became a director of Rheem and Paloma Rheem Holdings.
Executive Fellow Takeshi Ebisu
Executive Fellow Takeshi Ebisu Takeshi Ebisu has been involved in the HVAC industry for almost 30 years from both a technology and management perspective. As Senior Vice President and Head of Corporate Planning at Daikin Industries, he led the execution of global business strategies and major acquisitions, and successfully led Daikin’s Goodman business in the US as President and CEO. Since 2019, he has been providing accurate and thoughtful insights and suggestions on the air conditioning business to various companies around the world, and joined Paloma Rheem Holdings in 2023.

Executive Officer, Finance and Accounting Koichi Takemoto
Executive Officer, Finance and Accounting Koichi Takemoto Koichi Takemoto has been engaged in finance and accounting operations over a wide range of business areas, in Japan and overseas, in B-to-B and B-to-C markets, and in both distribution and manufacturing for more than 30 years. Using extensive experience and deep knowledge of finance and accounting, he has been involved in numerous initiatives for enhancing corporate value. After serving as Managing Director and CFO of Panasonic Appliance Company and Representative Director and CFO of Fujikura Ltd., he joined Paloma Rheem Holdings in January 2024.
Executive Officer, Strategy and M&A Hayato Mitsutome
Executive Officer, Strategy and M&A Hayato Mitsutome Hayato Mitsutome brings over 20 years’ experience in M&A to Paloma Rheem Holdings. Hayato joined Paloma Rheem Holdings in March 2024 from LIXIL, a global enterprise that makes pioneering water and housing products, where he served as Senior Vice President, and led M&A and business developments for over 10 years. Prior to joining LIXIL, Hayato spent over 11 years at PwC, where he provided transaction advisory services primarily to private equity funds and multi-national corporates.
Executive Officer, Corporate Planning Susumu Watanabe
Executive Officer, Corporate Planning Susumu Watanabe Susumu Watanabe led the strategic planning and budgeting for each business division as General Manager of the Corporate Planning Department in Singapore at HOYA Corporation Global Headquarters. He joined Paloma Rheem Holdings in February and assumed current position in August 2024.
Executive Officer, Legal Yuichi Watanabe
Executive Officer, Legal Yuichi Watanabe Yuichi Watanabe is a lawyer qualified in Japan and New York with over 25 years of experience in domestic and international corporate transactions. Before joining Paloma Rheem Holdings in September 2024, he was a legal director at Amazon Japan responsible for supporting key projects and managing legal risks relating to Amazon’s businesses in Japan. Prior to joining Amazon, Yuichi spent 14 years in private practice at several Japanese and international law firms including Nishimura & Asahi.
Executive Officer, Human Resources Mayuko Seto
Executive Officer, Human Resources Mayuko Seto Mayuko Seto has over 20 years of experience as an HR professional, having worked with global companies including GE, MetLife, and Takeda Pharmaceutical Company. As an energizing leader, she has driven successful organizational change and growth. Before joining Paloma Rheem Holdings in November 2024, she served as the CHRO Senior Corporate Officer at Ricoh Company Ltd.