Tokyo, March 25, 2026

Paloma Rheem Holdings Co., Ltd. (“PRH”) today announced that its wholly owned subsidiary GENERAL Inc. ("GENERAL") held its Shareholders Meeting and elected a new leadership team. Effective immediately, Takeshi Ebisu has been appointed Representative Director and Chief Executive Officer, Koji Masuda as Chairman of the Board, and Susumu Ohkawara as Director and Executive Vice President.

With the acquisition of GENERAL in 2025, PRH is positioned to drive global growth as an integrated Air & Water company. GENERAL, which leads the group's air conditioning business, will accelerate growth by optimizing its product portfolio and sales channels while strengthening collaboration across PRH group companies to expand in global markets.

Hiroaki Kobayashi, Representative Director and President of PRH, commented, "within the PRH Group, Paloma, Rheem, and GENERAL have begun working as one to strengthen our global position as an Air & Water company. To lead this initiative, Takeshi Ebisu, who brings extensive management experience in the air conditioning business across domestic and international markets, will spearhead GENERAL's business development, while Koji Masuda and Susumu Ohkawara will provide operational support for the management foundation. As a pioneer operating in both air conditioning and water heating, PRH will continue advancing the integration of technologies across both fields and driving powerful innovation in the Air & Water sector."

Takeshi Ebisu, newly appointed Representative Director and Chief Executive Officer of GENERAL, stated, "GENERAL has significant potential for global growth. By harnessing GENERAL's superior products and technological expertise, we will integrate air conditioning and water heating technologies across the PRH Group to drive profitability. Our goal is to strengthen PRH's global presence as a leading Air & Water company and deliver sustainable growth."

For more details on GENERAL’s new management, please refer to their press release.

About Paloma Rheem Holdings

Paloma Rheem Holdings (“PRH”) is one of the world's leading air and water companies, operating both air conditioning and water heating businesses. The group is comprised of Paloma, GENERAL (formerly Fujitsu General) in Japan, and Rheem in the U.S., and is primarily engaged in the manufacturing and sales of air conditioning, water heating, heating, and kitchen equipment. Since Paloma acquired Rheem in 1988, the two companies have built a strong partnership over 40 years, respecting each other. The company has actively pursued M&A, particularly in North America and Europe, while pursuing technological innovation and quality improvement to drive business expansion. In 2025, with the acquisition of GENERAL, PRH further solidified its position as a leading company in the air and water sector.

PRH is committed to developing air conditioning and water heating solutions that meet customer needs, positioning itself as an essential support company for comfortable living worldwide. The group operates from 29 countries with a presence in over 100 countries, employing approximately 26,000 people across 43 manufacturing facilities and 25 research and development centers. For the fiscal year ending December 2024, the group generated sales of approximately ¥1 trillion and operating profit of approximately ¥100 billion (excluding GENERAL). For more details, please visit the website:https://www.pr-holdings.co.jp/

Profile of Newly Appointed Representative Director of GENERAL Inc.

Takeshi Ebisu

Date of Birth: September 1, 1962