On March 11, 2011, the most powerful earthquake ever to strike in Japan struck off the coast of the Tohoku region in northeastern Japan. As a result of this earthquake and the subsequent tsunami, damage has occurred to a nuclear power facility, which has led the Japanese government to declare a nuclear emergency. Thousands of lives have been lost with many people still unaccounted for due to the earthquake, and the extent of the damage caused by this disaster is not yet clear. The daily life of the people is severely hindered, while the impact on the Japanese economy will be significant.
At the Wacoal Group, there were no employees who lost their life; however, there was damage to our wholesale client and direct retail stores. Product distribution and business operation are working on a solution in face of the resulting infrastructure instability. Although it is difficult to estimate the financial impact at present, we are assuming that this year’s results and the business plan for the following year will be impacted.
We believe it is time for us to join forces to help recover our nation. Japan is suffering tremendous grief and there are concerns about the future. The warm words of support from all over the world gives us strength. In the past, Japan has always united as one when faced with trying times; this time will be no different.
The Wacoal Group will do its best to help and support the people affected by this disaster and the Tohoku region itself, and to work with others to lead the nation on a path to recovery.
March 17, 2011