A Word About the Revised Medium-TermManagement PlanEmbarking on a new journeyaboard a ship (the company)that creates “individuality”We took the time to think about why Wacoal is struggling. One reason is that we havenot been able to keep up with changes in consumers and the world. The value chain,including planning and sales, which we consider to be our strength, is fraying. Yet, wehave not tackled the essential, underlying issues. Another reason is that we were notdecisive enough. Fearing the pain and strife caused by reforms has caused us to putoff what has needed to be done. To get Wacoal Group back on track for growth in theface of unprecedented headwinds, executive leadership and employees alike mustcarefully reflect on our past and work together to rebuild a business model thatmaximizes the value of the Wacoal brand. I liken a company to a single ship movingtoward a single destination. In order to build a stronger ship that can move forwardeven in the face of headwinds, and in order for employees to take pride in this ship,we will carry out reforms with a strong commitment, and support employees as theytake on challenges and grow both personally and professionally.

Masaaki YajimaRepresentative Director, President and CEOWacoal Holdings Corp.

11 ■ WACOAL HOLDINGSINTEGRATED REPORT 2023■ 12The WACOALWayWe will quickly restore our ability to generate cashand sustainably enhance corporate valueMissionWe decided to revise the medium-term management plan because we fell significantly short of our goals inFoundingPrinciplesfiscal 2023, the plan’s first fiscal year. Under the revised medium-term management plan, we will implementbusiness model reforms to improve profitability, a growth strategy to achieve VISION 2030, introduce ROICmanagement, and promote asset reduction. We will rebuild supply chain management and strengthen our2030-31management base to improve profitability and capital efficiency and enhance the effectiveness of our strategies.
Additionally, by encouraging employees to take on challenges and grow, we aim to evolve into a Wacoal GroupVISION 2030 (FY2031)that can continuously provide products and services that contribute to the “individuality” of our customers.

2025-26Revised the medium-term management plan toevolve into a company that can make forwardprogress despite businessor market headwindsEvolution ofvalue creation processFinal fiscal year ofthe revised mediumterm managementplan (FY2026)2023-24Basic Policy of the RevisedMedium-Term Management PlanBasic Policy on HumanResources StrategyTransition to a corporate structure that can steadilygenerate cash to increase the likelihood of achievingVISION 2030Running the organization by a select few= Individual growth x Strengthening organizationalcapabilities x Fostering an appealing cultureBusiness modelreformGrowth strategyROICmanagementPromoting assetreductionP. 23▶

13 ■ WACOAL HOLDINGSAcquisitionof talentStrengthenmanagementcapabilitiesContribute to beautywith individualityIncrease salesAchieving a returnexceedingcapital costNew value creationMaximization ofmanagement efficiencySolving materialitiesRevamp corporatecultureProductplanningResearch anddevelopmentBusinessmodelreformProcurementSupport growthShareholderreturnsPromotion ofDE&IAchievementof well-beingP. 51▶

GrowthinvestmentsHumanresourceinvestmentsSales andmarketingProductionSupply chain management reformIncreased effectivenessof strategyAlways putcustomers firstP. 27▶

Strengthening foundationunderpinning value creationINTEGRATED REPORT 2023 ■ 14