The Beginning: Introduction of Tankless Water Heaters

1951 Noritsu Bath Industry established in Kobe, Japan
1956 Research center opened to engage in the development of gas bath boilers and furnaces
1957 Company bonds issued – the first by a small enterprise in Japan
1961 Started sale of gas bathwater heaters
1962 Akashi Factory completed, in-house production began
1963 Launched first line of oil boilers
1966 Introduction of 1st tankless water heater
1968 Company name changed to Noritz
1970 Started sale of gas water heaters
         Developed the industry’s first device to control heater power from inside the bathroom

Innovation: Introduction of Instantaneous Heaters

1977 Introduced 1st instantaneous water heater (storage type)
1978 1st auto-off bathwater heater system launched
1980 1st Combination instantaneous heater launched (domestic and bath water)
1981 1st modern, electronically controlled tankless water heater introduced
1984 Noritz goes public – listed on Osaka Stock Exchange (OSE)
         New Noritz logo released for corporate identity
1985 Listed on Tokyo Stock Exchange (TSE)
1989 Launched Estudio system kitchen – entered kitchen and bath market
1990 Akashi head office factory completed with Central R & D & Comprehensive Training

         Centers
1992 Advanced combination domestic and bath water heating unit launched

Globalization: Growth of Noritz

1993 Shanghai Noritz Co. established in China
1994 Advanced tankless heater series using proportional control method and low NOx burner

         launched
1996 Received ISO 9001 international quality standard certification
1997 Received ISO 14001 international environmental standard certification (1st in Japan for Gas

         device trade)
2001 Capital participation in Harman (a major kitchen appliance mfr.) making it a consolidated

         subsidiary
2002 Business partnership with TOTO
2003 Business partnership with Honda
2004 Established Noritz Electronics (HK) Technology Ltd.
2005 Australian Branch in Melbourne and European Branch In Düsseldorf Germany opened

Noritz America in the U.S.

2002 Noritz America Corporation established in U.S.A. – Lake Forest, CA
2003 “Always Hot” slogan and promotion introduced in first nationwide advertising campaign

         PROCard promotional program launched
         Relocated to current larger complex, which includes testing and large training facilities
2004 Noritz America adds 4 new tankless water heaters to its product line – the M and S-Series
         Full line of services valves for tankless water heaters added to accessory line
         Noritz America introduces the first Commercial Grade, Direct Vent tankless water heater

         in the industry
2005 Addition of 3 more water heaters: a Residential Direct Vent and (2) Outdoor Recess

         Package models
         Noritz America introduces its own Stainless Steel venting, the N-Vent line
         First U.S. regional branch opens in Atlanta, GA
2006 1st tankless company in the world to offer ASME Certified commercial models.

         Noritz America introduces N-063S-OD and N-069M-OD models.

         Second U.S. regional branch opens in Dallas, TX