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2026 Who Brands. All information is provided for educational purposes. Brand names and logos are trademarks of their respective owners.

  1. Home
  2. Brands
  3. Conglomerates & Industrial
  4. Toshiba Carrier
Toshiba Carrier logo
Conglomerates & Industrial

Who Owns Toshiba Carrier?

Toshiba Carrier is an HVAC business owned by Carrier Global Corporation (NYSE: CARR). The joint venture between Toshiba and Carrier was formed in 1999, and Carrier moved to full ownership of the Toshiba HVAC business in 2024. The unit sells Toshiba-branded residential and light commercial air conditioning and heat pump systems, primarily in Asia Pacific.

Parent Company

Carrier Global Corporation

Acquired

2024

Status

Publicly Traded

Headquarters

Kawasaki, Kanagawa, Japan

Toshiba Carrier Timeline

1999

Toshiba Carrier

Founded by Toshiba Corporation, Carrier Corporation (joint venture)

Founded
2024
Acquired by Carrier Global Corporation

Carrier Global Corporation acquired Toshiba Carrier

Acquired
premiumpremiumAsia PacificOfficial Website

Who Owns Toshiba Carrier?

  • Parent Company: Carrier Global Corporation
  • Ownership Type: Subsidiary
  • Acquisition Year: 2024
  • Company Type: Publicly Traded
  • Stock Ticker: NYSE: CARR
BrandParent CompanyOwnership Type
Toshiba CarrierCarrier Global CorporationSubsidiary

History of Toshiba Carrier

  • Founded: 1999
  • Founders: Toshiba Corporation, Carrier Corporation (joint venture)
  • Acquired by Carrier Global Corporation: 2024

Toshiba's air conditioning history predates the joint venture by decades. The company began manufacturing air conditioning equipment in the 1930s and was a pioneer of inverter-driven compressor technology, which it introduced to room air conditioners in the early 1980s. Toshiba's inverter and variable refrigerant flow (VRF) innovations became industry standards.

Carrier and Toshiba formed Toshiba Carrier Corporation in 1999, combining Toshiba's air conditioning technology and Asian distribution with Carrier's global scale and refrigeration expertise. The venture manufactured residential and light commercial systems for the Japanese market and export, and Toshiba's VRF technology strengthened Carrier's light commercial lineup worldwide.

The 2020 separation of Carrier from United Technologies did not change the venture's structure. In 2022, Carrier increased its ownership to a controlling stake as part of its climate-focused portfolio strategy. In 2024, Toshiba agreed to sell its remaining stake, making the business wholly owned by Carrier while preserving the Toshiba brand under license.

Under full Carrier ownership, the business continues to develop ductless split systems, VRF systems, and heat pumps for Asia Pacific and export markets. Toshiba's compressor and inverter engineering, including its research center in Kawasaki, remains a technical asset for the parent company.

About Carrier Global Corporation

Is Carrier Global the same company as Carrier air conditioning?
Carrier Global Corporation is the parent company of the Carrier brand and related HVAC businesses. The company was spun off from United Technologies in April 2020 and now operates as an independent public company. The Carrier brand remains the flagship product line within Carrier Global's portfolio.

Is Carrier Global publicly traded?
Yes. Carrier Global Corporation trades on the New York Stock Exchange under the ticker symbol CARR. It is a component of the S&P 500 index and has no controlling shareholder.

When was Carrier Global founded?
Carrier Global became an independent public company on April 3, 2020, when United Technologies spun it off. The underlying Carrier enterprise was founded in 1915 by Willis Carrier and colleagues, and Willis Carrier invented the first modern air conditioning system in 1902.

What brands does Carrier Global own?
Carrier Global owns Carrier, Bryant, Payne, Viessmann, Toshiba HVAC, Automated Logic, Carrier Transicold, Heil, Day & Night, CIAT, and NORESCO, among others. The company divested its fire and security businesses and its commercial refrigeration unit during 2024.

What is Carrier Global's market position?
Carrier is one of the three largest HVAC companies globally alongside Trane Technologies and Daikin Industries. It holds the leading position in European residential heating through Viessmann and a leading share in North American commercial HVAC, where orders grew nearly 50% in the fourth quarter of 2025.

Who owns Carrier Global?
Carrier Global has no controlling owner. Its shares are publicly traded on the NYSE and held primarily by institutional investors, with Vanguard, BlackRock, and State Street among the largest shareholders.

  • Founded: 2020
  • Headquarters: Palm Beach Gardens, Florida, USA
  • Company Type: Publicly Traded
  • Stock: NYSE: CARR
  • Revenue: $21.75 billion (FY2025)
  • Employees: Approximately 48,000

Visit Carrier Global Corporation website

View full company profile for Carrier Global Corporation

Where Is Toshiba Carrier Made / Based?

  • Headquarters: Kawasaki, Kanagawa, Japan
  • Manufacturing / Operations: Japan, Thailand, China

Toshiba Carrier Categories & Tags

HvacAir ConditioningHeat PumpsVrfJapan

Brands Owned by Carrier Global Corporation

Automated LogicConglomerates Industrial

Automated Logic

Owned by Carrier Global Corporation

Building automation and management systems provider founded in 1963, owned by Carrier Global and known for its WebCTRL platform.

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BryantConglomerates Industrial

Bryant

Owned by Carrier Global Corporation

Premium residential heating and cooling brand founded in 1904, sold through factory-authorized dealers and owned by Carrier Global Corporation.

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Carrier TransicoldConglomerates Industrial

Carrier Transicold

Owned by Carrier Global Corporation

Transport refrigeration brand of Carrier Global, providing refrigeration units for trucks, trailers, rail, and shipping containers since 1970.

transport-refrigerationcold-chaintrucking
CarrierConglomerates Industrial

Carrier

Owned by Carrier Global Corporation

Flagship heating and air conditioning brand of Carrier Global Corporation, tracing to Willis Carrier's 1902 invention of modern air conditioning.

hvacair-conditioningheating
PayneConglomerates Industrial

Payne

Owned by Carrier Global Corporation

Value-tier residential heating and cooling brand founded in 1914, owned by Carrier Global Corporation and sold through independent dealers.

hvacresidential-hvacfurnaces
ViessmannConglomerates Industrial

Viessmann

Owned by Carrier Global Corporation

German heating and climate solutions brand founded in 1917, acquired by Carrier Global in January 2024 for approximately 12 billion euros.

hvacheat-pumpsboilers
View all brands owned by Carrier Global Corporation

Toshiba Carrier Ownership: Pros & Cons

Advantages

  • +Decades of inverter and VRF technology leadership feeds Carrier globally
  • +Toshiba brand retains strong consumer trust in Japan
  • +Established manufacturing base in Japan, Thailand, and China
  • +Completes Carrier's regional coverage across Asia Pacific
  • +Full ownership since 2024 simplifies integration and strategy

Considerations

  • -Toshiba name operates under license rather than outright ownership
  • -Japanese market is mature, replacement-driven, and intensely competitive
  • -Daikin's dominant domestic position limits share gains
  • -Brand equity depends on continued licensing relationship with Toshiba
  • -Currency exposure on Japan-based manufacturing costs

Frequently Asked Questions About Toshiba Carrier

Sources & Further Reading

  • Toshiba Carrier official website
  • Carrier Brands Overview
  • Carrier Global Investor Relations
  • Carrier Global 2025 Annual Report
  • Carrier Global Wikipedia
  • SEC EDGAR: Carrier Global filings

Competitors to Toshiba Carrier

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
BryantBryantSister Brand
Carrier Global
USA
1904
PremiumUnited statesAll Genders
CarrierCarrierSister Brand
Carrier Global
USA
1902
PremiumGlobalAll Genders
PaynePayneSister Brand
Carrier Global
USA
1914
Mass marketUnited statesAll Genders
ViessmannViessmannSister Brand
Carrier Global
Germany
1917
PremiumEuropeAll Genders

Learn More About Competitors

BryantConglomerates Industrial

Bryant

Owned by Carrier Global Corporation

Premium residential heating and cooling brand founded in 1904, sold through factory-authorized dealers and owned by Carrier Global Corporation.

hvacresidential-hvacfurnaces
CarrierConglomerates Industrial

Carrier

Owned by Carrier Global Corporation

Flagship heating and air conditioning brand of Carrier Global Corporation, tracing to Willis Carrier's 1902 invention of modern air conditioning.

hvacair-conditioningheating
PayneConglomerates Industrial

Payne

Owned by Carrier Global Corporation

Value-tier residential heating and cooling brand founded in 1914, owned by Carrier Global Corporation and sold through independent dealers.

hvacresidential-hvacfurnaces
ViessmannConglomerates Industrial

Viessmann

Owned by Carrier Global Corporation

German heating and climate solutions brand founded in 1917, acquired by Carrier Global in January 2024 for approximately 12 billion euros.

hvacheat-pumpsboilers

Competitive Analysis

Market Positioning: Toshiba Carrier competes with 4 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to Toshiba Carrier

Looking for brands with different ownership structures? These similar brands are not owned by Carrier Global Corporation, giving you alternative choices that support different corporate structures.

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Caterpillar

Owned by Caterpillar Inc.

Caterpillar, sold under the Cat brand, is the flagship equipment brand of Caterpillar Inc., the world's largest maker of construction and mining machinery.

heavy-equipmentconstruction-machinerymining-equipment
Publicly Traded

Caterpillar operates independently without a large parent corporation.

John DeereConglomerates Industrial

John Deere

Owned by John Deere

Flagship agricultural machinery brand of Deere & Company, the world's largest farm equipment maker, famous for green tractors and the leaping deer logo.

agriculturemachinerytractors
Publicly Traded

John Deere operates independently without a large parent corporation.

ACC LimitedConglomerates Industrial

ACC Limited

Owned by Adani Group

Indian cement and ready-mix concrete manufacturer, one of the oldest cement companies in India, owned by Adani Group since 2022.

cementconstructionbuilding-materials
Privately Owned

ACC Limited is privately owned, unlike Toshiba Carrier which is under a publicly traded parent company.

Ambuja CementConglomerates Industrial

Ambuja Cement

Owned by Adani Group

Indian cement manufacturer providing construction materials and building solutions, owned by Adani Group since 2022.

cementconstructionbuilding-materials
Privately Owned

Ambuja Cement is privately owned, unlike Toshiba Carrier which is under a publicly traded parent company.

CHSConglomerates Industrial

CHS

Owned by CHS Inc.

American agribusiness brand for grain, agronomy, energy, and crop input services, the master brand of the largest farmer-owned cooperative in the United States.

agribusinesscooperativegrain
Privately Owned

CHS is privately owned, unlike Toshiba Carrier which is under a publicly traded parent company.

Dalmia CementConglomerates Industrial

Dalmia Cement

Owned by Dalmia Bharat Group

Indian cement and building materials brand owned by Dalmia Bharat Group, the fourth largest cement manufacturer in India by capacity.

cementconstructionbuilding-materials
Privately Owned

Dalmia Cement is privately owned, unlike Toshiba Carrier which is under a publicly traded parent company.

Carrier Global Corporation Stock Information

Jobs at Carrier Global Corporation

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Last reviewed: September 26, 2026 · Reviewed by Who Brands Editorial Team