Tokyo, May 29, 2025

Paloma Rheem Holdings Co., Ltd. (“Paloma Rheem”), has successfully concluded its Tender Offer for the common shares of Fujitsu General Limited (the “Target Company”; TSE: 6755), excluding treasury shares held by the Target Company and shares held by Fujitsu Limited (“Fujitsu”) as of May 28, 2025. The total number of shares tendered exceeded the minimum threshold set by Paloma Rheem, with approximately 46.56% of the Target Company’s common shares tendered. As a result, Paloma Rheem will acquire all tendered shares.

Following the successful completion of the Tender Offer, Paloma Rheem will implement a squeeze-out procedure by means of share consolidation so that Paloma Rheem and Fujitsu will be the only shareholders of the Target Company. Following this, Fujitsu, a major shareholder of the Target Company, plans to sell the common shares of the Target Company it holds through a share repurchase procedure which will be implemented by the Target Company. As a result, Paloma Rheem will be the sole shareholder of the Target Company. All procedures are expected to be completed by late August 2025.

For more details on the Tender Offer, please refer to the announcement titled “Announcement Regarding Results of Tender Offer for the Shares of Fujitsu General Limited (Securities Code: 6755)” released by Paloma Rheem today.

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/