Main industries:

• Heating appliances
• Water heaters
• Kitchen appliances

TOP 3 markets:

1. Japan: approximately 50%
2. USA: approximately 20%
3. China: approximately 15%

Rinnai Corporation generates the majority of its revenue from the manufacturing and sale of heating appliances, water heaters, and kitchen appliances. The Japanese market remains the most important sales market for Rinnai, followed by the USA and China. These markets are crucial for the company as they offer both high demand and growth potential. The strong presence in Japan is supported by long-standing market leadership and customer trust. In the USA and China, Rinnai benefits from the increasing demand for energy-efficient heating solutions.

Production Sites:

• Japan
• China
• Taiwan
• South Korea
• Vietnam
• Australia
• USA

The Rinnai Corporation is an internationally active company that produces its products in several countries worldwide. The headquarters is located in Japan, where a significant part of the production also takes place. In addition, Rinnai has production facilities in China, Taiwan, South Korea, Vietnam, Australia, and the USA to better serve the demand in the respective regional markets. This global production strategy enables Rinnai to operate more efficiently and optimize supply chains.

Revenue Growth: Estimated at 5-7% annually (based on historical data and market trends up to 2023)

Focus on Sustainability and Energy Efficiency:
In recent years, Rinnai Corporation has increasingly focused on developing energy-efficient and environmentally friendly products. This strategy aims to meet the growing demand for sustainable solutions in the heating and hot water market.

International Expansion:
The company plans to expand its presence in international markets, especially in regions with increasing demand for modern heating solutions. This includes both organic growth and potential strategic partnerships or acquisitions.

Investments in Research and Development:
Rinnai continuously invests in research and development to develop innovative technologies that reduce energy consumption and improve user-friendliness. This is intended to strengthen the company's competitiveness and tap into new market segments.

These strategic priorities are intended to help Rinnai solidify its market position and ensure long-term growth.

Main raw materials: Steel, Copper, Aluminum, Plastic

Main supplying countries: China, Japan, South Korea, Australia

Rinnai Corporation imports a variety of raw materials needed for the production of their heating and cooling devices. The most important raw materials include steel, copper, aluminum, and various plastics. These materials are essential for the production of efficient and durable devices.

China and Japan are significant suppliers of steel and aluminum, while copper is often sourced from Australia and South Korea. The choice of supplying countries is based on the availability, costs, and quality of the raw materials. Rinnai continuously optimizes its supply chains to reduce costs and improve sustainability.

Market Share in Japan: 40% (estimated for 2025)
R&D Expenses: 4.5% of revenue (2024)
International Presence: Active in over 20 countries (2025)

Rinnai Corporation has a significant competitive advantage, especially in the Japanese market, where the company holds an estimated market share of about 40%. This strong position is supported by a comprehensive product portfolio in the field of heating and hot water solutions.

The company continuously invests in research and development, with expenses amounting to approximately 4.5% of revenue in 2024. These investments enable Rinnai to develop innovative and energy-efficient products that meet changing consumer demands.

Internationally, Rinnai is active in over 20 countries, highlighting its global reach and ability to diversify. This international presence helps to spread risk and capitalize on growth opportunities in emerging markets.

Institutional Investor Share: approximately 45% (estimated for 2025)
Insider Buys/Sells: No significant transactions in the last year (estimated for 2025)

The institutional investor share in Rinnai Corporation is approximately 45%. This indicates that a significant number of shares are held by investment funds, pension funds, and other institutional investors. These investors typically have a long-term investment horizon and can support the stability of the stock.

Regarding insider buys or sells, there were no significant transactions in the last year. This may suggest that the management and other insiders have confidence in the current company strategy and the future direction of the stock. However, it is important to regularly review this information as dynamics can change at any time.

Market share of Rinnai Corporation: Estimated 18% (2025)

Top competitors and their market share:

1. Noritz Corporation: 15%
2. Paloma Industries: 12%
3. A.O. Smith Corporation: 10%
4. Bosch Thermotechnology: 9%
5. Ariston Thermo Group: 8%

Rinnai Corporation is a leading provider in the field of heating and hot water solutions. Rinnai's market share is estimated at 18%, making it one of the market leaders. Rinnai's moat consists mainly of its strong brand recognition, innovation power, and product quality.

Compared to its competitors, Rinnai has the advantage of a wide range of products and a strong presence in Asia. Noritz and Paloma, also from Japan, are strong competitors, but Rinnai has a technological edge through continuous investments in research and development.

A.O. Smith and Bosch Thermotechnology operate globally and also offer high-quality products, but they focus more on the North American and European markets. Ariston Thermo Group has a solid market share in Europe but less presence in Asia.

Overall, Rinnai has a significant moat through its leadership in innovation and strong brand presence, enabling the company to compete against its rivals.

Revenue Growth: 7.8% (2024) Profit Growth: 5.2% (2024) Market Share in Heating Technology: 12% (2024)

In 2024, Rinnai Corporation recorded a revenue growth of 7.8%, attributed to strong demand for energy-efficient heating solutions. The company further solidified its market position in the heating technology sector with a market share of 12%.

The profit growth of 5.2% indicates that Rinnai is able to effectively manage its costs and benefit from increased demand. Continuous investments in research and development, especially in the field of environmentally friendly technologies, position the company well for future growth.

Given these positive developments and the strategic focus on sustainable technologies, Rinnai stock could be an attractive investment for investors looking for long-term growth.

Dividend yield: 2.1% (2024)
Dividend history: Continuous payout over the last 10 years

Rinnai Corporation has pursued a stable dividend policy in recent years. The dividend yield of 2.1% in 2024 indicates that the company regularly returns capital to its shareholders.

The reliability of the payout is underscored by the continuous payment over the past ten years. This suggests that Rinnai Corporation has a solid financial foundation to continue paying dividends in the future. Analysts view the dividend policy as sustainable, based on the stable earnings and conservative financial strategy of the company.