[Translation]
Consolidated Business Results for the First Quarter of the Fiscal Year Ending March 31, 2025
[IFRS]
August 7, 2024
Stock Exchange: Tokyo

Listed Company: Wacoal Holdings Corp.
Code Number: 3591
(URL: https://www.wacoalholdings.jp/)
Representative: (Position) Representative Director, President and CEO
For Inquiries: (Position) Corporate Officer, Head of Corporate Planning Dept.

(Name) Masaaki Yajima(Name) Katsuya Hirooka
Tel: +81 (075) 682-1010

Scheduled dividend payment start date:
Supplementary materials regarding business results:
Yes
Explanatory meeting regarding business results: Yes (for institutional investors, analysts and the press)(Amounts less than 1 million yen have been rounded)

1.

First Quarter of the Fiscal Year Ending March 31, 2025 (April 1, 2024 – June 30, 2024)(1)

Consolidated Business Results(% indicates increase (decrease) from the corresponding period of the previous fiscal year)

Business
ProfitRevenue
Millions of Yen

First Quarter
ended June 30,
2024
First Quarter
ended June 30,
2023%

Millions of Yen

Operating
Profit%Millions of Yen

Profit Before
Taxes%

ProfitMillions of Yen%

Millions of Yen%

46,462 (4.8)

1,561 (34.2)

3,206

17.6

4,268

6.6

3,017

4.6

48,789 (0.5)

2,371

2,727

10.4

4,004

11.8

2,885

16.6

(0.3)

Profit Attributableto Owners of
ParentTotal
Comprehensive
IncomeBasic Earnings
per Share

Diluted Earnings
per Share

Millions of Yen

Millions of Yen %

Yen

Yen

%

First Quarter
ended June 30,
3,038
6.8
6,598 (50.1)
55.18
54.95
2024
First Quarter
ended June 30,
2,844 18.0
13,222 59.6
49.03
48.82
2023
(Note) Business profit is calculated by subtracting cost of sales, and selling, general and administrative
expenses from revenue.
(2)

Consolidated Financial Condition

As of June 30, 2024
As of the end of Fiscal
Year (March 31, 2024)

Total Assets

Total Equity

Equity Attributable to
Owners of Parent

Ratio of Equity
Attributable to
Owners of Parent

Millions of Yen

Millions of Yen

Millions of Yen%

291,050

218,819

215,49074.0

294,029

215,142

211,829

72.0

-1-

2.

Status of Dividends

End of First
Quarter
Yen

Annual Dividend
End of Second End of Third
Quarter
Quarter
Yen

Yen

Fiscal Year Ended March 31, 2024
–
50.00
–
Fiscal Year Ending March 31, 2025–
Fiscal Year Ending March 31, 2025
50.00–
(Estimates)(Note) Revision of estimated dividends announced during the latest quarter: No
3.

Year-End

Total

Yen

Yen

50.00

100.0050.00

100.00

Forecast of Consolidated Business Results for the Fiscal Year Ending March 31, 2025 (April 1, 2024 – March 31,
2025)(% indicates increase (decrease) from the previous fiscal year with respect to “Annual” and from the six-month period ended September 30,
2023 with respect to “Six-month Period Ending September 30, 2024”)

Revenue

Millions of Yen %Business Profit Operating Profit

Profit Before
Taxes

ProfitAttributable to
Owners of
ParentBasic Earnings
per Share

Millions of Yen %Millions of Yen %Millions of Yen %YenMillions of Yen %Six-month
Period Ending
92,400 (2.9)
1,200 (68.6)
2,200
3,300
2,200
September 30,
2024
Annual
183,000 (2.2)
200 (94.3)
2,000
3,800
3,200
(Note) Revision of forecast of consolidated business results announced during the latest quarter: No

39.96
58.12

*Notes(1)

Significant changes in scope of consolidation in the consolidated cumulative first quarter of the current fiscal year:
None

(2)

Changes in accounting policies and/or accounting estimates:(i) Changes in accounting policies required by IFRS: None(ii) Changes in accounting policies other than (i) above: None(iii) Changes in accounting estimates: None(3)

Number of Issued Shares (Common Stock)
First Quarter ended
June 30, 2024
(i)
(ii)
(iii)

Number of issued shares (including
treasury stock) as of the end of:
Number of shares held as treasury
stock as of the end of:
Average number of shares duringconsolidated first quarter (firstquarter ended June 30):

-2-

Fiscal Year ended
March 31, 2024

55,500,000 shares

61,000,000 shares

439,446 shares

5,931,669 shares

55,057,323 shares

58,010,347 shares

*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: None
*Cautionary Statement regarding Forecast of Business Results(Cautionary note on forward-looking statements)
The forecast of business results is based on reasonable information we obtained as of the date hereof and, due to various
risks, uncertainties and other factors arising in the future, actual results in the future may differ largely from the estimates
set out in this document. For notes on conditions used for the forecast of business results and cautionary statements
regarding forecast of business results, please see “1. Overview of Business Results – (3) Qualitative Information regarding
Forecast of Consolidated Business Results” on page 9 of the attached materials.

-3-

Table of Contents for Attached Materials
1.

Overview of Business Results ----------------------------------------------------------------------------------------- 5(1)

Business Results Overview of the First Quarter -------------------------------------------------------------------- 5(2)

Financial Condition Overview of the First Quarter ---------------------------------------------------------------- 8(3)

Qualitative Information regarding Forecast of Consolidated Business Results -------------------------------- 92.

Condensed Quarterly Consolidated Financial Statements and Accompanying Notes ------------------------- 10(1)

Condensed Quarterly Statement of Financial Position ----------------------------------------------------------- 10(2)

Condensed Quarterly Consolidated Statement of Profit or Loss and Condensed Quarterly Consolidated
Statement of Comprehensive Income ------------------------------------------------------------------------------ 12(3)

Condensed Quarterly Consolidated Statement of Changes in Equity ------------------------------------------ 14(4)

Condensed Quarterly Consolidated Statement of Cash Flows -------------------------------------------------- 15(5)

Notes to Condensed Quarterly Consolidated Financial Statements -------------------------------------------- 16(Segment Information) ----------------------------------------------------------------------------------------------- 16(Notes on Going Concern) ------------------------------------------------------------------------------------------- 17

-4-

1.

Overview of Business Results(1)

Business Results Overview of the First Quarter(i)

Performance Overview of the Three Months ended June 30, 2024
(Millions of Yen)

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Business profit
Other income
Other expenses
Operating income
Finance income
Finance expense
Share of profit of investments accounted for using
equity method
Profit before taxes
Profit attributable to owners of parent

Previous Consolidated
Cumulative First
Quarter(From April 1, 2023 toJune 30, 2023)
Amount48,78920,93927,85025,479
2,371
446
90
2,727
1,020
79
336
4,004
2,844

Current Consolidated
Cumulative First
Quarter(From April 1, 2024 toJune 30, 2024)
Amount46,462
20,187
26,27524,714
1,561
1,733
88
3,206
800
94
356
4,268
3,038

Increased/(Decreased) fromprevious consolidated
cumulative
first quarter
Amount(2,327)(752)(1,575)(765)(810)+1,287
(2)
+479
(220)
+15
+20

%
(4.8)
(3.6)
(5.7)
(3.0)
(34.2)+288.6(2.2)+17.6(21.6)
+19.0
+6.0

+264
+194

+6.6
+6.8

During the current consolidated cumulative first quarter (April 1, 2024 – June 30, 2024), our group has
worked on initiatives to achieve our goals under the revised three-year medium-term management plan which willend in the fiscal year ending March 2026. With respect to our domestic business, we continued to promote cost
structure reforms as a part of our business model reform project, and also launched a business process testing to
introduce an appropriate in-store restocking system and a production system linked to sales conditions in order tobuild a new supply chain system that can flexibly provide products in response to changes in customer needs andmarket conditions. In addition, we have introduced a brand manager system starting from the current fiscal year tofoster attractive brands with clear value propositions and to formulate measures to expand sales in the young, highpremium and/or senior segments. In our overseas business, we continued to expand contact points with newcustomers using digital to achieve growth of our e-commerce business, and we also work on broadening our sales
areas and channels in Europe. With respect to our business in China where sales remained sluggish, we have been
aggregating sales channels to improve profitability. Besides, we also promoted our project to introduce return on
invested capital (“ROIC”) management with the aim of improving capital efficiency and strengthening business
management functions, and conducted the sale of the Asakusabashi Building under our policy to promoteasset-reduction strategy. Furthermore, we implemented specific measures aimed at improving mid- to long-term
corporate value, including the introduction of the performance-linked stock compensation plan with respect toremuneration plans for our directors, in order to improve the linkage of remuneration to business performance and tofurther share value with our shareholders.
As a result of the above, for the current consolidated cumulative first quarter, consolidated revenue was
46.46 billion yen (a decrease of 4.8% as compared to the corresponding period of the previous fiscal year). The
decrease was mainly due to the impact of our domestic structural reforms (implementation of delivery adjustments tooptimize the in-store inventory), in addition to the number of customers visiting retail stores falling below our
expectations, while e-commerce business of our core operating entities remained strong. Consolidated businessprofit was 1.56 billion yen (a decrease of 34.2% as compared to the corresponding period of the previous fiscal year)
due to the significant impact of decreased revenue and higher cost of sales ratio despite our efforts to control selling,
general and administrative expenses at each operating entity. We recorded a consolidated operating income of 3.21
billion yen (an increase of 17.6% as compared to the corresponding period of the previous fiscal year) as a result of
the gain from sale of property, plant and equipment (1.41 billion yen) related to the sale of the Asakusabashi Building.
Consolidated profit before taxes was 4.27 billion yen (an increase of 6.6% as compared to the corresponding period-5-

of the previous fiscal year), and consolidated profit attributable to the owners of parent was 3.04 billion yen (anincrease of 6.8% as compared to the corresponding period of the previous fiscal year).
The key exchange rates used for the current consolidated cumulative first quarter (the corresponding periodof the previous fiscal year) were: 155.88 yen (137.37 yen) to the U.S. dollar; 196.85 yen (171.91 yen) to the Sterlingpound; and 21.48 yen (19.56 yen) to the Chinese yuan.
(ii)

Business Overview of Our Reportable Segments(Millions of Yen)
Previous Cumulative
First Quarter(from April 1, 2023 toJune 30, 2023)
AmountTotal Revenue
Wacoal Business (Domestic)
Wacoal Business (Overseas)
Peach John
Other

Operating Profit /(Loss)
Wacoal Business (Domestic)
Wacoal Business (Overseas)
Peach John
Other

a.

48,78923,774
18,8362,770
3,409

Current Cumulative
First Quarter(from April 1, 2024 toJune 30, 2024)

Distribution
Ratio (%)
100.0
48.7
38.6
5.7
7.0

Amount46,462
22,237
18,7422,565
2,918

Distribution
Ratio (%)
100.0
47.9
40.3
5.5
6.3

Decreased from previous
cumulative
first quarter
Amount%(2,327)(1,537)
(94)
(205)
(491)

(4.8)
(6.5)
(0.5)
(7.4)
(14.4)

Previous Cumulative
First Quarter(from April 1, 2023 toJune 30, 2023)

Current Cumulative
First Quarter(from April 1, 2024 toJune 30, 2024)

Increased/(Decreased) fromprevious cumulative
first quarter

Amount% to Sales

Amount% to Sales

Amount

%

5.6
2.4
10.0
4.8
4.3

3,206
1,089
2,101
(7)
23

6.9
4.9
11.2
0.8

+479
+528
+214
(141)
(122)

+17.6
+94.1
+11.3
(84.1)

2,727
561
1,887
134
145

Wacoal Business (Domestic)

Our sales performance during the current consolidated cumulative first quarter showed a mixture of strong
and weak sales trends, differing by brand and sales channel. While sales from “Synchro Bra Top” under our “Wing”
brand, which was a key product we promoted and received positive feedback from a wide range of customers,
exceeded our expectations as a result of the positive impact of our active promotion measures utilizing SNS, sales
from brassiere, our main product line, remained sluggish especially in medium-priced products.
As for trends by sales channel, while our e-commerce sales maintained a high growth as a result of ouraggressive promotion measures, sales from our retail stores, including department stores, mass retailers and our
directly managed stores, remained weak due to missed sales opportunities resulting from product shortages as well as
sluggish growth in the number of customer visits caused by a lack of high-profile products.
As a result of the above, revenue attributable to our “Wacoal Business (Domestic)” segment was 22.24
billion yen (a decrease of 6.5% as compared to such revenue for the corresponding period of the previous fiscal year),meeting our planned level. Operating profit was 1.09 billion yen (an increase of 94.1% as compared to suchoperating profit for the corresponding period of the previous fiscal year) due to the gain on sale of property, plant andequipment (1.41 billion yen) related to the sale of the Asakusabashi Building.
b.

Wacoal Business (Overseas)

Sales from Wacoal International Corp. (U.S.) fell below the level of the corresponding period of the previous
fiscal year on a local currency basis due to the impact of business withdrawal of Intimates Online, Inc. (“Intimates
Online”). Sales from Wacoal America, Inc. which distributes “Wacoal” brand, remained approximately at the samelevel as the level of the corresponding period of the previous fiscal year. This was mainly due to the sluggish sales
from our retail stores caused by the restraint on purchases by certain wholesale stores, and the weak sales from our-6-e-commerce business which were impacted by the sluggish customer visits, although sales of third-party e-commerce
websites significantly exceeded such sales for the corresponding period of the previous fiscal year as a result of thepositive impact of our aggressive advertising activities.
Sales from Wacoal Europe Ltd. fell below the level of the corresponding period of the previous fiscal year on
a local currency basis due to the weak sales from the specialty stores and department stores in the United Kingdom
and the United States, while sales from Europe, mainly in Germany and France, achieved growth. By items, whilesales from our women’s innerwear products were strong, sales from our swimwear products significantly fell below
such sales for the corresponding period of the previous fiscal year, which drove down the overall sales.
While we engaged in promotional activities to improve customer visits both at our retail stores ande-commerce websites against the backdrop of the weak consumer spending, our business at Wacoal China Co., Ltd.
continued to struggle as the number of customer visits remained sluggish.
As a result of the above-described factors, while revenue attributable to each core operating entity decreased
on a local currency basis, revenue attributable to our “Wacoal Business (Overseas)” segment was 18.74 billion yen (adecrease of 0.5% as compared to such revenue for the corresponding period of the previous fiscal year), remaining at
the approximately same level as the corresponding period of the previous fiscal year due to the depreciation of theJapanese yen against major currencies. Operating profit was 2.10 billion yen (an increase of 11.3% as compared tosuch operating profit for the corresponding period of the previous fiscal year) mainly due to the profit improvement
following the business withdrawal of Intimates Online and the impact of the depreciation of the Japanese yen.
c.

Peach John

During the current consolidated cumulative first quarter, sales from third-party e-commerce websites
continued to remain strong. Sales from both our e-commerce website and directly managed stores, however, fell
below the level of the corresponding period of the previous fiscal year as our sales promotion activities, including
campaigns featuring famous celebrities and the “30th Anniversary Project”, failed to attract new customers and to
improve purchase rate to the level we expected.
As a result of the above, revenue attributable to our “Peach John” segment were 2.57 billion yen (a decreaseof 7.4% as compared to such revenue for the corresponding period of the previous fiscal year). We recorded an
operating loss of 0.01 billion yen (as compared to 0.13 billion yen of operating profit for the corresponding period of
the previous fiscal year) due to the impact of decreased revenue and rising prices of unit costs, despite our efforts tocontrol selling, general and administrative expenses based on sales trends.
d.

Other

During the current consolidated cumulative first quarter, sales from Lecien Corporation increased because of
the strong sales of its private brand products and embroidery products. Sales from Ai Co., Ltd. remained at the samelevel as the corresponding period of the previous fiscal year due to a strong demand for swimwear products. On theother hand, sales from Nanasai Co., Ltd. significantly decreased due to a weak number of orders received for interior
design work business. As described in the “Notice Concerning Share Transfer Involving a Change in Consolidated
Subsidiaries” (*) which we announced on May 15, 2024, Nanasai Co., Ltd. will be excluded from the scope of ourconsolidation following the share transfer, starting from the second quarter.
As a result of the above, revenue attributable to our “Other” business segment was 2.92 billion yen (adecrease of 14.4% as compared to such revenue for the corresponding period of the previous fiscal year). Operating
profit significantly decreased to 0.02 billion yen (a decrease of 84.1% as compared to such operating profit for thecorresponding period of the previous fiscal year) mainly due to the impact of the loss recorded at Nanasai Co., Ltd.
(*) Please see our press release “Notice Concerning Share Transfer Involving a Change in Consolidated
Subsidiaries” announced on May 15, 2024:
https://www.wacoalholdings.jp/en/ir/topics/files/wacoalholdingsnews20240515_6en.pdf-7-

(Reference) Revenue and Operating Profit/ (Loss) of Major Subsidiaries(Millions of Yen)

Revenue

Previous Cumulative
First Quarter(from April 1, 2023 toJune 30, 2023)
AmountWacoal Corp.
Wacoal International Corp. (U.S)
Wacoal Europe Ltd.
Wacoal China Co., Ltd.
Peach John Co., Ltd.
Lecien Corporation
Nanasai Co., Ltd.

22,552
7,857
5,551
2,982
2,770
563
1,877

Current Cumulative
First Quarter(from April 1, 2024 toJune 30, 2024)

Distribution
Ratio (%)
46.2
16.1
11.4
6.1
5.7
1.2
3.8

Amount20,959
7,939
6,164
2,582
2,565
666
1,251

Distribution
Ratio (%)
45.1
17.1
13.3
5.6
5.5
1.4
2.7

Increased/(Decreased) fromprevious cumulative
first quarter
Amount%(1,593)
+82
+613
(400)
(205)
+103
(626)

(7.1)
+1.0
+11.0
(13.4)(7.4)+18.3(33.4)*Revenue from external customers only
(Millions of Yen)

Operating Profit/(Loss)

Wacoal Corp.
Wacoal International Corp. (U.S.)
Wacoal Europe Ltd.
Wacoal China Co., Ltd.
Peach John Co., Ltd.
Lecien Corporation
Nanasai Co., Ltd.

(2)Previous Cumulative
First Quarter(from April 1, 2023 toJune 30, 2023)

Current Cumulative
First Quarter(from April 1, 2024 toJune 30, 2024)

Increased/(Decreased) fromprevious cumulative
first quarter

Amount% to Sales

Amount% to Sales

Amount

%

3.5
8.7
11.3
0.5
4.8
8.2
1.5

1,399
1,030
642
(83)
(7)
(1)
(83)

6.7
13.0
10.4
-

+600
+350
+14
(98)
(141)
(47)
(112)

+75.1
+51.5
+2.2
-

799
680
628
15
134
46
29

Financial Condition Overview of the First Quarter(i)

Assets, Liabilities and Total Shareholders’ Equity

Our total assets as of the end of the current consolidated first quarter were 291,050 million yen, a decrease of
2,979 million yen from the end of the previous fiscal year, mainly due to a decrease in cash and cash equivalents.
Our total liabilities were 72,231 million yen, a decrease of 6,656 million yen from the end of the previous
fiscal year, mainly due to decreases in income taxes payable and trade and other payables.
Equity attributable to owners of parent was 215,490 million yen, an increase of 3,661 million yen from theend of the previous fiscal year, mainly due to an increase in exchange differences on translation of foreign operations
resulting from the depreciation of the Japanese yen.
As a result of the above, ratio of equity attributable to owners of parent as of the end of the current
consolidated first quarter was 74.0%, an increase of 2.0% from the end of the previous fiscal year.
(ii)

Cash Flows

Cash and cash equivalents as of the end of the current consolidated first quarter were 28,755 million yen, adecrease of 4,792 million yen from the end of the previous fiscal year.

-8-(Cash Flow Used in Operating Activities)
Cash flow used in operating activities was 1,117 million yen, as compared to cash flow provided byoperating activities in the amount of 970 million yen for the corresponding period of the previous fiscal year, after
adjustments to our net profit of 3,017 million yen for changes in assets and liabilities, depreciation, amortization,
income tax expense and other items.
(Cash Flow Provided by Investing Activities)
Cash flow provided by investing activities was 415 million yen, as compared to cash flow used in investing
activities in the amount of 1,756 million yen for the corresponding period of the previous fiscal year, due to sale ofproperty, plant and equipment, despite payments into time deposits.
(Cash Flow Used in Financing Activities)
Cash flow used in financial activities was 4,220 million yen, an increase of 1,096 million yen as compared tothe corresponding period of the previous fiscal year, due to repayments of lease obligations and dividends paid.
(3)

Qualitative Information regarding Forecast of Consolidated Business Results
We have not revised our forecast of consolidated business results for the six-month period ending September

30, 2024 and the fiscal year ending March 31, 2025 since we announced such forecast on May 15, 2024.

-9-

2.

Condensed Quarterly Consolidated Financial Statements and Accompanying Notes(1)

Condensed Quarterly Statement of Financial Position(Millions of Yen)
Accounts

Previous Consolidated
Fiscal Year
as of March 31, 2024

AssetsCurrent assets:
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Other current assets
Subtotal
Assets held for sale
Total current assets
Non-current assets:
Property, plant and equipment
Right-of-use assets
Goodwill
Intangible assets
Investment property
Investments accounted for using equity method
Other financial assets
Retirement benefit assets
Deferred income taxes
Other non-current assets
Total non-current assets
Total assets- 10 -

Current Consolidated
First Quarteras of June 30, 2024

33,547
22,141
1,996
49,9894,225
111,898
239

28,75520,503
3,055
50,628
4,568
107,509
4,292

112,137

111,801

45,478
11,471
11,805
11,8902,839
20,34754,451
18,7953,995
821

44,014
10,872
12,561
11,6192,736
20,95852,67518,8594,162
793

181,892
294,029

179,249
291,050

(Millions of Yen)
Previous Consolidated
Fiscal Year
as of March 31, 2024

Accounts
Liabilities and Equity
Liabilities
Current liabilities:
Borrowings
Lease liabilities
Trade and other payables
Other financial liabilities
Income taxes payable
Other current liabilities
Subtotal
Liabilities directly associated with assets held forsale
Total current liabilities
Non-current liabilities
Borrowings
Lease liabilities
Retirement benefit liability
Deferred income taxes
Other non-current liabilities
Total non-current liabilities

Current Consolidated
First Quarteras of June 30, 2024

7,200
4,898
17,406995
4,074
14,56649,1399,232
4,351
14,838982
661
13,094
43,158-

1,753

49,13944,911

1,946
6,598
2,947
16,934
1,323
29,748

280
6,611
2,148
16,993
1,288
27,320Total liabilities
EquityCommon stock
Additional paid-in capital
Retained earnings
Other components of equity
Treasury stock, at cost
Total equity attributable to owners of parent
Noncontrolling interests

78,887

72,231

13,26020,550148,494
46,784(17,259)
211,829
3,313

13,2604,510
148,969
50,031(1,280)215,490
3,329

Total equity
Total liabilities and equity

215,142
294,029

218,819
291,050- 11 -

(2)Condensed Quarterly Consolidated Statement of Profit or Loss and Condensed Quarterly Consolidated
Statement of Comprehensive Income(Condensed Quarterly Consolidated Statement of Profit or Loss)(Millions of Yen)
Accounts

Previous Consolidated
Cumulative First Quarter(From April 1, 2023
to June 30, 2023)

Current Consolidated
Cumulative First Quarter(From April 1, 2024
to June 30, 2024)%

Revenue
Cost of sales
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Finance income
Finance costs
Share of profit of investments accounted for using
equity method
Profit before tax
Income tax expense%

48,789(20,939)(25,479)
446
(90)
2,727
1,020
(79)

100.0
(42.9)(52.2)
0.9
(0.2)
5.6
2.1
(0.2)

46,462(20,187)(24,714)
1,733
(88)
3,206
800
(94)

100.0
(43.4)(53.2)
3.7
(0.2)
6.9
1.7
(0.2)

336

0.7

356

0.8

4,004
(1,119)

8.2
(2.3)

4,268
(1,251)

9.2
(2.7)

2,885

5.9

3,017

6.5

Profit attributable to:
Owners of parent
Noncontrolling interests
Profit

2,844
41
2,885

5.8
0.1
5.9

3,038
(21)
3,017

6.5
(0.0)
6.5

Profit per share:
Basic earnings per share (yen)Diluted earnings per share (yen)

49.03
48.82

Profit- 12 -

55.18
54.95

(Condensed Quarterly Consolidated Statement of Comprehensive Income)(Millions of Yen)
Current Consolidated
Cumulative First Quarter(From April 1, 2024
to June 30, 2024)

Previous Consolidated
Cumulative First Quarter(From April 1, 2023
to June 30, 2023)

Accounts
Profit

2,885

3,017

Other comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value throughother comprehensive income
Share of other comprehensive income ofinvestments accounted for using equity method
Total

4,083

(986)

14

(115)

4,097

(1,101)

5,662

4,292

578

390

6,240

4,682

Total other comprehensive income
Comprehensive income

10,337
13,222

3,581
6,598

Comprehensive income attributable to:
Owners of parent
Noncontrolling interests

13,020
202

6,475
123

13,222

6,598

Items that may be reclassified subsequently to profit
or loss
Exchange differences on translation of foreign
operations
Share of other comprehensive income ofinvestments accounted for using equity method
Total

Comprehensive income- 13 -

(3)Condensed Quarterly Consolidated Statement of Changes in Equity
Previous Consolidated Cumulative First Quarter (From April 1, 2023 to June 30, 2023)(Millions of Yen)
Equity attributable to owners of parent
Item
Share capital

Balance at April 1, 2023

13,260Capitalsurplus29,029Treasury
stock

Total

151,779

32,023(15,894)

210,197

3,285

213,482

2,844

41

2,885

10,176161

10,337-

13,020202

13,222

(1)

(1)

(1)

8,572

-

-

2,844

Other comprehensive income

10,176--

2,844

10,176

Repurchase of treasury stock
Cancellation of treasury stock(0)

Dividends(8,572)(2,321)

Changes in ownership interest in subsidiaries
Total transactions with owners
Balance at June 30, 2023

Total equity

Other
componentsof equity

ProfitTotal comprehensive income

Noncontrollinginterests

Retainedearnings(2,321)(99)(2,420)

12

74

86

12
-

12

(10,893)-

8,571(2,310)(25)(2,335)

13,26029,041

143,730

42,199(7,323)220,907

3,462

224,369

Current Consolidated Cumulative First Quarter (From April 1, 2024 to June 30, 2024)(Millions of Yen)
Equity attributable to owners of parent
Item
Share capital

Balance at April 1, 2024

13,260Treasury
stock

Total

148,494

46,784(17,259)

211,8293,313

215,142

3,038

(21)

3,017

3,437

144

3,581

-

6,475

123

6,598

(60)

(60)

(60)

(16,011)

16,011

-

-

(29)

28

(1)

(1)

20,550

3,038

Other comprehensive income

3,437
-

-

3,038

3,437

Repurchase of treasury stock
Cancellation of treasury stock
Share-based payment transactions
Dividends(2,753)

Transfer from other components of equity toretained earnings
Total transactions with owners
Balance at June 30, 2024

Total equity

Other
componentsof equity

ProfitTotal comprehensive income

Noncontrollinginterests

Retainedearnings

Capitalsurplus(2,753)

190

(190)

(107)

-

(2,860)--(16,040)(2,563)(190)

15,979(2,814)(107)(2,921)

13,2604,510

148,969

50,031(1,280)215,490

3,329

218,819- 14 -

(4)Condensed Quarterly Consolidated Statement of Cash Flows

Accounts(Millions of Yen)
Current Consolidated
Cumulative First Quarter(From April 1, 2024
to June 30, 2024)

Previous Consolidated
Cumulative First Quarter(From April 1, 2023
to June 30, 2023)

Operating activities
ProfitDepreciation and amortization
Finance income
Finance costs
Share of profit of investments accounted for using
equity method
Income tax expense(Gain) loss on sale and disposal of property, plant andequipment-net
Decrease in trade and other receivables
Decrease (increase) in inventories
Increase in other assets
Decrease in trade and other payables
Decrease in retirement benefit asset or liability
Decrease in other liabilities
Other
SubtotalInterest received
Dividends received
Interest paid
Income taxes paid
Net cash (used in) provided by operating
activities
Investing activities
Proceeds from withdrawal of time deposits
Payments into time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of other financial assets
Proceeds from sale or amortization of other financial
assetsOther
Net cash provided by (used in) investing
activities
Financing activities
Net increase in short-term bank loans with original
maturities of three months or lessRepayments of lease obligations
Payments for purchase of treasury stock
Dividends paid to owners of parent
Dividends paid to noncontrolling interests
Proceeds from sale of interests in subsidiaries tononcontrolling interests
Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net decrease in cash and cash equivalents resulting fromtransfer to assets held for saleNet decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 15 -

2,885
3,008(1,020)
79

3,017
3,012
(800)
94

(336)

(356)

1,119

1,251

37

(1,362)

827
(358)
(368)
(2,581)(1,733)
(53)
(354)
1,152
48
1,281
(72)
(1,439)

989
523
(419)
(2,282)(409)(1,703)
(372)
1,183
108
1,314
(104)
(3,618)970(1,117)

24
(804)
(612)
0
(384)
(1)

29
(900)
(493)
1,703
(277)
(54)

37

397

(16)

10

(1,756)

415

658

128

(1,439)(1)(2,321)(99)(1,428)(60)(2,753)
(107)

78

-

(3,124)(4,220)

886

1,101

-

(971)

(3,024)
26,781
23,757(4,792)33,54728,755(5)Notes to Condensed Quarterly Consolidated Financial Statements(Segment Information)(i)

Reportable Segment Information

Previous Consolidated Cumulative First Quarter (From April 1, 2023 to June 30, 2023)(Millions of Yen)
Reportable Segment
Wacoal
WacoalBusiness Business Peach John
(Domestic) (Overseas)

Total

Other
(Note) 1

Adjustments Consolidated

Revenue
External customers
Intersegment
Total
Segment profit (Note) 2

23,774

18,8362,770

45,3803,409-

48,789

206

3,614

50

3,870

1,220

(5,090)-23,98022,4502,820

49,2504,629(5,090)48,789

561

1,887

134

2,582

145

-

2,727

Current Consolidated Cumulative First Quarter (From April 1, 2024 to June 30, 2024)(Millions of Yen)
Reportable Segment
Wacoal
WacoalBusiness Business Peach John
(Domestic) (Overseas)

Total

Other
(Note) 1

Adjustments Consolidated

Revenue
External customers
Intersegment
Total

22,237

18,742

2,565

43,544

2,918-

46,462

113

3,338

32

3,483

1,028

(4,511)-

22,35022,0802,597

47,027

3,946(4,511)

46,462

Segment profit (loss) (Note) 2
1,089
2,101
(7)
3,183
23
3,206
(Note) 1. The “Other” category includes Lecien business, Nanasai business, and other business segments which are notincluded in the operating segment.
2. The sum of the segment profit (loss) agrees to the operating profit on the condensed quarterly consolidated
statement of profit or loss. For a reconciliation from operating profit to profit before tax, please see thecondensed quarterly consolidated statement of profit or loss.
3. The Company accounts for intersegment sales and transfers at cost plus an interest.

- 16 -

(ii)Segment Information by Region
Breakdown of the revenue to external customers
Previous Consolidated
Cumulative First Quarter(From April 1, 2023
to June 30, 2023)
29,684

Japan(Millions of Yen)
Current Consolidated
Cumulative First Quarter(From April 1, 2024
to June 30, 2024)
27,404

Asia and Oceania

6,076

5,522

Americas and Europe

13,02913,536

Total

48,78946,462(Note) 1. Countries or areas are classified according to locations of consolidated companies.
2. Of “Americas and Europe” category, revenue in the United States for the previous consolidated cumulative
first quarter and current consolidated cumulative first quarter were 9,180 million yen and 9,363 million yen,respectively.
(Notes on Going Concern)
Not applicable.

- 17 -