Is Fujitsu owned by Rheem?

No, Fujitsu is not owned by Rheem, and Rheem is not owned by Fujitsu. They are two completely independent companies from different countries and industries. Fujitsu is a Japanese IT conglomerate headquartered in Tokyo, while its HVAC division is Fujitsu General Limited, headquartered in Kawasaki, Japan, which makes air conditioners and heat pumps. Rheem is an American HVAC and water heating manufacturer headquartered in Atlanta, Georgia, owned by Paloma Industries of Japan. The confusion likely comes from the fact that Rheem, Fujitsu General, and other brands have had distribution partnerships and OEM relationships in the North American HVAC market. For example, in the past Fujitsu General America and Rheem had a joint venture for distribution, and some Rheem mini-split products were manufactured by Fujitsu General as an OEM supplier. Currently, Fujitsu General air conditioners in North America are distributed through Fujitsu General America, while Rheem sells its own line of mini-splits and central systems, some of which are sourced from other partners. In short, neither company owns the other. Fujitsu General is publicly traded in Japan and its largest shareholders are Fujitsu and Japanese investors, while Rheem Manufacturing Company is privately held by Paloma Co. Ltd. of Nagoya, Japan. They remain competitors in the ductless market.