Paloma Rheem Completes Full Acquisition of Fujitsu General August 22, 2025

Tokyo, August 22, 2025

Paloma Rheem Holdings Co., Ltd. (“Paloma Rheem”) is pleased to announce that it has completed a series of procedures following the public tender offer for the common shares of Fujitsu General Limited (“Fujitsu General”) and has made Fujitsu General a wholly owned subsidiary. Accordingly, Fujitsu General was delisted from the Tokyo Stock Exchange as of August 19, 2025.

Fujitsu General is engaged primarily in the air conditioning business, as well as related information & communication systems and electronic devices. In the North American air conditioning market, Fujitsu General has an existing collaborative relationship with Rheem, a member of the Paloma Rheem Group, which includes mutual product supply and joint development initiatives.

With the participation of Fujitsu General, the Paloma Rheem Group aims to further enhance its collective growth through mutual complementary collaboration. By leveraging each company’s well-established sales infrastructure and service network, the combined group will be better positioned to deliver comprehensive solutions that address customer needs and strengthen its presence in both the domestic and international air conditioning markets. In the long term, Paloma Rheem Group aims to enhance its leadership in the global air conditioning industry, integrate air conditioning and water heating technologies, and drive further innovation. Through these efforts, the group will also contribute to the promotion of decarbonization efforts.

About Paloma Rheem Group

Paloma Rheem Group (PRG) is one of the world’s leading air conditioning and water heating (Air and Water) companies. PRG consists of Paloma based in Japan and Rheem based in the United States, and manufactures and sells air conditioning, hot water, heating, and kitchen equipment. In Japan, Paloma has been manufacturing gas appliances for 114 years since its founding in 1911. Since Paloma acquired Rheem in 1988, the two companies have built a strong relationship over 40 years based on mutual respect, and each has striven for technological innovation and quality improvement to steadily expand business. PRG has bases in 15 countries and operations in 85 countries. It has approx. 19,000 employees worldwide, 36 production plants and 17 R&D facilities worldwide. Group sales for the fiscal year ending December 2024 were approx. 1 trillion yen, and operating profit was approx. 100 billion yen. For more information, visit our website: https://www.pr-holdings.co.jp/en/