This is an Appendix of the medium-term
management plan (revised) disclosed on
November 9, 2023. It describes the initiatives of
Wacoal and its major overseas subsidiaries.

Revised Medium-Term Management Plan
FY2024 to FY2026
Appendix
November 20, 2023
Wacoal Holdings Corp.
1

Targets of the Revised Medium-Term
Management Plan

Reiteration : Revised Medium-Term Management Plan
FY2024 to FY2026 Document P5 (disclosed 11/9)

Opportunities
⚫
⚫
⚫
⚫

Risks
⚫

Diversifying the need to "be yourself"
Increasing the need for health and comfort
Social inculcation of sustainability awareness
Developing markets with significant growthpotential⚫
⚫
⚫

Increasing procurement costs due to changes in theexternal environment
Declining domestic demand due to population decline
Lack of competitiveness due to slow innovation
Declining corporate attractiveness and a serious
shortage of staff

Wacoal Group's strengths
Personalized body andsoul database1

Business model reforms to improve profitability⚫
⚫

2

Reviewing supply chain management
Cost structure reform ● Dealing with unprofitable businesses

Improvingprofitability andcapital efficiency

Growth strategy to achieve VISION 2030⚫
⚫

2

Research/knowledge ofvarious body types / life
stagesGrowth investments
Reviewing brand strategies ● Focusing on growth markets
and stakeholder
Human resource development and organizational development
returns
to enhance corporate value

Manufacturing
technology for productsthat suit each customer

3

Organizational ability to meet
individual needs and embody
services

Introducing ROIC management⚫
⚫

4

Monitoring profitability and strategy effectivenessBusiness portfolio management

Promoting asset reduction⚫
⚫
⚫

Reducing inventories
Reducing strategic shareholdings
Streamlining real estate holdingsWacoal Corp.'s Initiatives

3

Our Goals for VISION2030■ Reviews (Wacoal in the past)✓ The ability to execute on the proposed plan is poor, and the improvement process based on reflection of failure
is not working✓ As customer needs change, conventional advertising, product planning, production systems, and business
management functions are unable to respond to market changes, causing a decrease in profitability andexcessive inventories✓ In particular, the lead time (LT) from product planning, development, production, and delivery takes more than
one year, and improvement is urgently needed■ Wacoal's future value

Empowering you to be yourself*
Wacoal aims to grow and contribute to society by supporting “your own beauty, comfort, and health"of each customer tailored to diversifying customer needs■ Medium-term management plan (revised)
After implementing cost structure reforms, we will grow again by strengthening brand power,
customer loyalty, and human resources, and building a supply chain management that can respondquickly to customer needs. We will implement ROIC management to strengthen our business
management functions and strengthen the PDCA process for each business
4

Empowerment: Unleashing, supporting, and empowering people to achieve their full potential

Products and services thatempower customers to bethemselves
Products andservices basedon the results of
our Company's
research

Products andservices thatmeet diverse
valuesThe Future Wacoal
In order to grow and contribute to society by providing products and services that meet diversifying customer needs,
we will implement thorough corporate transformation through the medium-term management plan (revised)
The Past Wacoal✓✓

Providing value based on the results of our Company's
research
Uniform marketing for all customers✓✓

Over-reliance on our Company's strengths, the "product."
Lack of clear brand marketing strategies✓

Customer directory management through in-store sales
associates (BA)
Completing the integration of the customer data
infrastructure and starting to use the data

Provided value

Brand strategies

Customerstrategies✓✓

Supply chain
management

Cost structure

Decision making

5

Due to the lead time (LT) from product planning todelivery, which takes more than one year to productdevelopment, a gap between demand and production
planning tends to occur✓

High cost structure✓✓✓

Various coordination tasks hinder prompt decision-making
The responsibility for management strategy is not clear
Partial optimization (lack of progress that requires
coordination)

The Future Wacoal➢

In addition to providing value based on the results of our research,
we will provide products and services that empower each customer’s
individuality based on the values of diverse customers➢

Through the brand management thoroughly from "customer's point ofview," we will cultivate attractive brands with clear value
Making the innerwear market itself attractive➢

Medium-term
management
plan (revised)➢➢

Increasing loyalty through the use of customer data
Building deep, broad, and long-term relationships with each andevery customer through personalized customer experiences andimproving LTV➢

Building demand-linked supply chain management that can flexibly
respond to changes in the market and customers➢

Achieving an optimal cost structure thorough rigorous selection and
focus

➢
➢
➢

Accelerating decision making
Clarifying responsibilities for business profit
Increasing productivity throughout the Company by achieving overall
optimization

Key Initiatives in the Medium-Term Management Plan (Revised)
After implementing cost structure reforms, we will strengthen brand power, customer loyalty, and human resources toreturn to growth
In order to become a new Wacoal that can respond quickly to changes in customers and markets, we will link our
supply chain management to demand from the customer's point of view using digital technologies■ Initiatives in Wacoal's medium-term management plan (revised)

Business model reform
Optimizing cost structure through rigorous
selection and focus
Forming supply chain management that canquickly respond to changes

Supply chain
management reform

Cost structure reform

Customer strategies

✓
✓

✓
✓

Implementing a radical cost structure reform in order to restore Wacoal's basic profitability
We will improve the sales profit ratio by 3 pts to 4 pts and SG&A expenses by 4 pts to 5
pts by FY2026✓

Building deep, broad, and long-term relationships with each and every customer throughpersonalized customer experiences and improving LTV. Designing every contact pointwith customers to make them attractive
Maximizing the value of the customer experience by leveraging customer data andimproving the customer journey✓

Executing growth strategies✓

Strengthening brand development andcustomer loyalty by maximizing the value
provided by leveraging our strengths anddigital technologies

Brand strategies✓✓

Human resource
strategy
6

Implementing supply chain management (SCM) reform to respond swiftly to changes incustomer needs and the market environment
Forming SCM linked to demand from the customer's point of view using digitaltechnologies✓

With thorough brand management from the customer's point of view, we will develop an
attractive brand with clear values and deepen the connection between the brand andcustomers
Making the innerwear market more attractive
To improve profitability as soon as possible, we will implement human resource
development, organizational development, and corporate culture reform for medium-to
long-term growth along with managing personnel planning
Leveraging the strengths and supporting growth of each sales associate (BA)Business Model Reform (1)Supply Chain Management Reform

Reiteration : Revised Medium-Term Management Plan
FY2024 to FY2026 Document P6 (disclosed 11/9)

Implementing SCM reforms at Wacoal(Japan) to respond quickly to changes in customer needs and the market environment
With the use of digital technology to build SCM linked to demand from the customer's point of view, thoroughly selecting and focusing to* SCM: supply chain management
optimize the cost structure■ Process for establishing supply chain management linked to demand

1

Optimizing in-store
product lineup

2

Demand-linked
production

3

Shortening planning anddevelopment lead time(LT)

⚫ By reviewing the uniform product mix and delivery style of new products, we establish amodel that reliably delivers top-selling products to stores (including e-commerce)✓ Operational establishment within the
period of the medium-term
management plan

⚫ Changing the production system to match the demand situation at the store,
optimizing/reducing excess inventories✓ Trial from standard products andgradually become operational within
the medium-term management plan
period.

⚫ Shortening development and delivery LT by utilizing existing patterns and reviewing
business processes such as planning and development meetings⚫ Accelerating the PDCA cycle and the launch of products that meet customer needs✓ By the FY2025, we will graduallychange the business process and try toshorten additional plans

2 Demand-linked production

Reviewing the product lineup to matchthe sales performance of the store, andoptimizing in-store inventories

Suppressing excess inventories byreplenishing production in line with store
sales(2) Demandlinked planning

1 Optimizing the in-store
product lineup

trends for each product7

Current status: A uniform product lineup
and uniform delivery of new products thatare not fully suited to the sales situation at
the store and customer characteristics

Delivery to meetin-store demands

PlantsOrdering in line with the season

Delivery in line with the production plan

(1) Shortening
current-stateprocesses

In-store/EC

Shortening

Development
Shortening

Additional
response thatmeets needs

Ordering in line with sales

Head office /distribution
warehouse

3 Shortening planning and development lead time (LT)

Shortening

Material ordering to sewing

Development to delivery LT: 6 months

Development
Material ordering to sewing

Reviewing
work
processes

Development to delivery LT:14 months→11 months

Reference: Progress of Supply Chain Management Reform
A demonstration experiment was conducted at six mass retailers to optimize the in-store product mix✓ Maintaining the inventory status of high-selling products at stores and promoting product appeal⇒Sales at participating stores (self-service stores and staffed sales staff stores) have been firm compared to the overall dealers■ Initiatives for the current fiscal year (December 2023 to March 2024)

2. Building a foundation that produces
continuous results≒Shortening replenishment LT

1. Maximizing sales during the period≒Reducing opportunity loss
(improving satisfaction rate and inventory turnover rate)✓✓

Based on the results of inspections, appropriate in-store inventory
operations will be established for demonstration project customers,
Starting demonstration experiments with other dealers(optimizing product mix and shortening replenishment LT)✓✓✓

Reviewing the product mix to focus on stores’ top-selling products
Shortening replenishment LT to stores (demonstration experiment ofshortening LT production)
Shortening product-planning LT and responding to additional production(from 25SS)■ Initiatives for the next fiscal year (April 2024 to March 2025)

3. Expanding the scope of initiatives for each theme≒Increasing results of initiatives (improving satisfaction rate, inventory turnover rate, andsales increasing)8

Business Model Reform (2)Cost Structure Reform

Reiteration : Revised Medium-Term Management Plan
FY2024 to FY2026 Document P7 (disclosed 11/9)

In order to restore Wacoal(Japan)'s basic profitability, a radical cost structure reform will be implemented. Setting reduction target to ¥ 7bn.
We plan to improve the sales profit ratio by 3 pts to 4 pts and SG&A expenses by 4 pts to 5 pts by FY2026 (compared to FY2023).

Reducing production costs⚫ Improving inspection process efficiency⚫ Reducing man-hours by aggregatingproduct numbers, etc.

● Will be completed by FY2025¥ 0.6
billionReducing production andmaterial costs⚫ Reviewing the production system⚫ Aggregating materials and master colors● Will be completed by FY2025¥ 0.4
billionImproving the profit andloss of stores⚫ Reviewing the terms and conditions ofbusiness with business partners⚫ Withdrawing stores that are in the red (upto 32 stores)⚫ Optimizing personnel in order to improve
productivity⚫ Considering the withdrawal fromstores that are in the red andthose that are not expected torevise transaction terms during
FY2024¥ 0.9
billionOffering voluntary
retirement⚫ Optimizing personnel in order to improve
productivity● Will be completed by FY2024¥ 0.9
billionOptimizing other sales
promotion expenses⚫ Optimizing expenses for IT⚫ Optimizing advertising/promotion costs● Will be completed by FY2025¥ 1.6
billionReducing distribution
costs, etc.

⚫ Improving distribution business profitability● Will be completed by FY2025¥ 0.6
billionApprox.
¥ 7.0 billion

9

Wacoal: Figures for the FY2026 business plan
Based on the effects of cost structure reforms and theresults of growth strategies, the revenue levels of ¥ 94 billion
and business profit of ¥ 6 billion(6.4%) have been set as
hurdle rates in the revised medium-term management plan

Improving sales
profitSales profit ratio
56%⇒59%(Approx. 3pt
improvement)

Cost improvement
SG&A expenses ratio
57%⇒53%(Approx. 4pt
improvement)

Sales revenue

¥6

¥ 1.9
billionbillion⚫ Aggregating production lines will
start at 24AW and be completed
during FY2025

SG&A expenses

Brand focus and selection⚫ Reducing losses on returns anddiscounting by aggregating productnumbers, etc.
(Reducing production lines by approx. 40%
and the number of product number by morethan 10%)⚫ Reviewing sales price setting

Cost of sales

Effectsbillion

Implementation timing¥ 94.0Specific activities

FY2026

Implemented items

6.4%

Business profit

Summary of the Growth Strategies
By leveraging Wacoal’s strengths and digital capabilities to continue providing products and services that empower
customers’ abilities to be themselves, we will develop beloved brands, build deep, broad, and long-term
relationships with customers, and achieve growth as the Wacoal

Implementing growth strategies
using Wacoal's strengths and digitaltechnologies
Strengthening human capital

Channel measures corresponding tocharacteristics, potential, customer
base, and market segments

Providing an optimal customer
experience
Improving LTV

Growth strategies

Channel measures

Expected effects✓

Customerstrategies

✓

Brand
strategies✓

Human
resource
strategy

10

Building deep, broad, and long-term
relationships with each and every
customer through personalized
customer experiences and improving
LTV
With thorough brand managementfrom the customer's point of view, we
will develop an attractive brand withclear values
In parallel with personnel planning
management to improve profitability assoon as possible, we will implementhuman resource development,
organizational development, andcorporate culture reform for medium-to
long-term growth✓

Channelportfolio✓✓✓✓

Product
structure✓✓

Customerexperience✓

Opening a replacement store totenants that attract many customers
Expanding self-managed sales floors
Acquiring new customers bystrengthening other companies' EC
Developing a new store format that
addresses customer expectations
Product structure according tocharacteristics of market segments
and channels
Product expansion according tostores' top selling products
Seamless customer experience
between Wacoal’s own EC andphysical stores
Personalized recommendations
based on customer data

✓
✓

✓
✓

Gaining and keeping loyal customers
Increasing number and amount of purchases
per year
Increasing return purchases and newmembers
Expanding the customer pyramid
Loyalcustomers

Existing
customers
New customers
Free customers

Growth Strategies (1) Customer Strategies
In order to build deep, broad, and long-term relationships with customers, we will thoroughly utilize
digital technologies to provide the best customer experience for each person■ Use of digital technologies

DX

1.

Rebuilding the value chain from the customer's point of view. Fully leveraging customer data, customer feedback, andsales associate (BA) insights

2.

Creating consistent and highly satisfying customer experiences in physical stores and online through 3D measurement
services (SCANBE) and apps (CARNET)

3.

Identifying the development path of loyal customers and continuously monitoring management metrics to maximize LTV■ Illustration of how customer data can be used

■ Physical stores✓ Consulting services✓ Handling reservations
and orders■ Stores implementing 3D
measurement service✓ Self-discovery

Customers
Data

Customers
Apps■EC✓ Personalizedrecommendations basedon customer data
✓ Product reviews from a
BA's viewpoint

11✓ Analyzing customer/BA
feedback and using themto create sales floors✓ Use of accumulated body
data for manufacturing

Research
Planning
Delivering a consistentcustomer experiencebased on customer data

Growth Strategies (2) Brand Strategies

Reiteration : Revised Medium-Term Management Plan
FY2024 to FY2026 Document P11 (disclosed 11/9)

With thorough brand management from the "customer's point of view," we will develop an attractive brand with clear values■ Developing products and services tailored to each segment to meet the diverse values of customers and empower them to be themselves.

Brand portfolio setting
tailored to market segments

1

Innerwear

2

Other thaninnerwear⚫ By clarifying the value we provide to customers, expand thecustomer base targeting young and affordable customers, andproviding products that meet diverse customer needs, we willdevelop brands with an eye on long-term connections withcustomers and expand LTV

Starting from the 24 AW
season productRebranding Wacoal⚫ From a brand that creates "beauty" to a brand that creates
encounters with a "new you and new possibilities." Rebranding ourcore brand, Wacoal, to improve its value

FY2028 ¥ 45 billion
125% compared to FY2023(CAGR 4.6%)

Expanding our "beauty,
comfort, and health"business⚫ Expanding the beauty, comfort, and health business by utilizing ourknowledge cultivated in the innerwear business⚫ Personalized services using 3D measurement systems and data
⚫ Strengthening sports business such as CW-X

FY2031 ¥ 20 billion■ About market segments
Analyzing the market attractiveness of each segment based on the "compound annual growth rate" x "bra market size" for FY2018 to FY2022, setting market
segments and developing brand strategies in line with the strengthened segments (market attractiveness of each market segment and other information notdisclosed)
15 to 19 yrs oldHigh premium

Age group
30 to 39 yrs old
40 to 49 yrs old

50 to 59 yrs old

Age 60 and above

High premium

Price range

Premium
BetterYoungpeopleRebranded Wacoal

Moderate
Affordable
Cost saving

12

20 to 29 yrs old

Affordable

Seniors

Quantitative Targets for Wacoal■ Planned figures(* including internal sales)

Initial goal
FY2025+1 year

Revised target

No change

FY2026

FY2031

Sales¥110 billion¥94 billion¥130 billion

Business profit¥7.5 billion¥ 6 billion¥11 billion

Business profit
margin

6.8%

6.4%

More than 8.5%

■ VISION2030 (goals to aim for in FY2031)
Market segment

Innerwear
Wacoal brandHigh premium＋2.7％
EC ratio

EC ratio of innerwear(Difference between
FY2023)13

Young people

Seniors

Semi-order

Personalize¥110 billion

Sales targets for FY2031
CAGR(FY2023 to FY 2031)

Affordable

Non-innerwear

40%(+20pt)

＋9.8％

＋3.8％

＋13.0％

Physicalstores60%(-20pt)Self-managing sales of
innerwear(Difference between FY2023)*

Conditioning¥20 billion＋18.9％＋25.1％

Self-managing

WholesaleMore than 60%(+10pt)40% or less(-10pt)ー＋21.5％* Sales at sales floors where customer data canbe acquired and price control is possible(e.g., directly managed stores, in-house EC
stores, department stores) in order tomaximize LTV

Overseas Business Initiatives

14

Major Initiatives for Overseas Business
Assuming the situation will continue to be uncertain, such as emergence of geopolitical risks anddecline in consumer confidence due to rapid inflation
Our Goals for VISION2030 (no change）

Overseas business initiatives under the medium-term management plan (revised)

In addition to achieving growth in existing areas (UK,US, and China) and expanding brand recognition incontinental Europe and India, we will transform ourbusiness structure to a high-profit structure

Assuming that the situation will continue to be uncertain, we will prioritize profit generation in FY2024
and FY2025 in each country while working to improve our management base and implementing growthstrategies for the next medium-term management plan

FY2031 Key KPIs (no change)¥108 billion
Operating profitability
10％
Sales revenue

1.
2.

3.

Steady growth in the U.K., the U.S.,
and China
A bold business transformation to
EC business
Including customer EC, dedicated▶ EC ratio 50% and higher EC, and Wacoal EC sales
Developing markets with large
potential for sales growth▶ Emerging areas Germany: ¥3 billion, India: ¥7 billion

4.
15

Promoting the Asian headquarters
systemGrowthstrategies

1. Growing EC
Expanding contact points with customers and achieving EC growth by promoting
digital strategies (OMO, CRM, Asia EC platform)
2. Developing and providing new products that meet market trends
Expanding contact points with new customers by developing and selling new
products based on market trend analyses in China and other countries in Asia

Strengthening
supply chain
management(1) Optimizing production and material procurement processes in overseas business(2) Reducing manufacturing costs by reorganizing the supply system within the Group(3) Expanding the supply network outside the Company to strengthen the affordable
market in China and Asia

Reviewingstrategies for
inefficientbusinesses

Withdrawal of LIVELY brand (IO)
After considering various possibilities for future business development, we determinedthat it would be difficult to improve the performance of the business in the future, anddecided to withdraw* Initiatives at major subsidiaries are explained on the following pages

Major Subsidiaries' Initiatives: Europe and the U.S
Wacoal Europe's initiatives

Wacoal International's (U.S) initiatives

In addition to promoting brand strategies to meet the diverse values ofcustomers, we will also form and promote growth strategies in regions withroom for growth, such as Germany and France

We will review the plan based on the current external environment. While
working to grow the EC business, we will begin to review our cost structure
to address the decrease in profit ratio due to increased costs➢ Accelerating the transition to an EC-focusedbusiness model➢ Accelerating the transition to an EC-focusedbusiness model

Improving the efficiency of the Dutch warehouse,strengthening EC business outside the UK (development of
Wacoal own EC, collaboration with other companies' EC)➢ Increase sales in continental Europe
In addition to cultivating existing areas, we will strengthen
sales activities in new areas, such as Germany, where
there is significant room for growth. In addition to expanding
our sales network, including EC and physical stores, we will
also consider alliances and M&As with other companies toachieve growth with quality and speed

FY2026 Performance KPIs

FY2026 Performance KPIs

Achieving continuous growth in the EC business bydeveloping new competitive compensation product groups
and strengthening CRM centered on digital fitting services✓ Sales revenue: ¥23.9 billion(CAGR: +5.6%)✓ Operating profitability: ¥2.6
billion (more than 10%)✓ EC ratio: 37%(FY2023: 31.7%)✓ Sales revenue: ¥28.8 billion(CAGR: 3.9%)✓ Operating profitability: ¥1.36
billion (5%)✓ EC ratio: 50%(FY2023: 45.6%)➢ Reviewing cost structure
In order to address the pressure of rising costs, we will
review retail prices, promote automation of distribution
operations (automatic picking, etc.), reduce procurement
costs, and begin reviewing our business model to optimize
our cost structure.

Wacoal America
Wacoal Europe
Total*1

Wacoal America
North America (U.S. and Canada)

Australia

UK

FranceGermany

Areas other than thoselisted on the left*4¥44.2 billion¥23.5 billion¥5.9 billion¥1.2 billion¥6.6 billion¥1.1 billion¥0.6 billion¥5.3 billion

EC¥17.5 billion¥11.4 billion¥2.8 billion

0¥2.4 billion¥0.2 billion¥0.3 billion¥0.4 billion

Physical stores¥26.7 billion¥12.1 billion¥3.1 billion¥1.2 billion¥4.2 billion¥0.9 billion¥0.3 billion¥0.9 billion

66%

3%

15%

2%

1%

12%

North America (U.S. and Canada)

Australia

UK

FranceGermany

Others¥1,804.5 billion¥98.7 billion¥416.8 billion¥205.5 billion¥351.1 billion

EC retail market size*2¥194.2 billion¥5.4 billion¥90.8 billion¥18.9 billion¥31.2 billion

Wacoal Group share*3

3.0%

2.4%

3.0%

1.1%

0.3%

Wacoal Group share*3 of EC

11.9%

-

4.8%

2.1%

1.9%

373 million people

25 million people

67 million people

65 million people

83 million people

Sales for FY2023

Sales ratio by area*1 to the total sales of Wacoal America andWacoal Europe

Innerwear market size
Retail market size

*2

Wacoal Europe

Innerwear

Population

16*1 Simple sum of Wacoal America and Wacoal Europe (including internal transactions)*3 Wholesale sales are calculated by substituting retail amounts*2 Source: Euro monitor materials in 2022
*4 Total export sales of Wacoal America and sales outside the areas indicated in Wacoal Europe-

Major Subsidiaries' Initiatives: China and Other Countries in Asia
Initiatives in China

Other countries' initiatives in Asia

Through a brand strategies (product functions, prices, and promotions) that
achieve EC growth, we aim to return to sales and at the same time embark
on a business model reform to improve profitability

Cooperate among Asian subsidiaries under the Asian headquarters system. We will
implement measures that take advantage of the strengths of our own EC and othercompanies' EC to achieve growth➢ Developing products that meet customer
needs

FY2026 Performance KPIs

(1) Strengthening our ability to respond to changes incustomer purchasing behavior, needs, and product trends.
Conducting purchase analysis in major EC marketplaces,
formulating and executing brand strategies (productfunctions, prices, promotions), and aiming for EC growth(2) Developing sports and athleisure products andexpansion of high-end products➢ Improving management efficiency
Reviewing our cost structure to improve profitability.
Withdrawing poorly-performing stores and reducing
inventories✓ Sales revenue: ¥13 billion(CAGR: +12.4%)✓ Operating profitability: ¥0.88
billion (6.8%)✓ EC ratio: 35%(FY2023: 23.5%)■ Purchase analysis in major EC marketplaces in each country
1. Composition ratio of non-wire bras
100%

95%

* Survey period: May to June 2023
Research method: Analyzing thecharacteristics of the top sales partnumbers in major EC marketplaces75%(1) Other companies' EC: Focusing on acquiring new customers
by strategically strengthening cooperation with EC marketplaces(2) Wacoal own EC: We will enhance our own content, such as
membership programs, and accelerate collaboration with physicalstores➢ Strengthening business in India(1) In addition to the existing premium line, new affordable
products will be developed to expand the customer base (24AW)(2) Implementation of product planning in India and improvementof domestic procurement ratio

FY2026 Performance KPIs
(Wacoal India)✓ Sales revenue: ¥1.3 billion(CAGR: +24.1%)✓ Operating loss: -¥0.16 billion✓ Domestic procurement ratio:
55%(FY2024: 15%)

Percentage of top part numbers in the EC marketplace
Composition ratio of Wacoal

2. Composition ratio of the price range
100%

100%

80%

➢ Expanding customer contact points andimproving LTV

75%

80%

65%

64%

Providing a better customer
experience and driving customer
brand switching

60%

60%

Strengthening the developmentof products that take advantage
of our strengths

60%
50%

40%
20%

40%

45%

Poor response to customer
needs that are more comfortable
than other companies

30%

25%

15%

14%
21%

32%

7%

27%

9%

11%

0%

0%
China
中国

17

20%

Malaysia
マレーシア

The Philippines
フィリピン

Vietnam
ベトナム

Singapore
シンガポール10＄以下$10or lower

10＄台
$10
level

20＄台
$20 level$40 or lower50＄以上$50 or higher
30＄以下$30 or lower 40＄以下

The information found in this document has been prepared based on information available at the time of its publication.
The company does not warrant or promise that the information will lead to favorable results. It is also subject to change
without notice.
While we exercise great care when posting this information, we are not responsible for any errors in the publishedinformation.
This is a translation of the original Japanese document, prepared and provided solely for readers' convenience. In caseof any discrepancy between this translated document and the Japanese original, the original document shall prevail.

18