Viewing the COVID-19 crisis as providing a favorable opportunity to move forward dramatically in a new era, we will advance bold self-reform.
Since the early months of 2020, the spread of COVID-19 has been wreaking havoc globally. As a corporate group with businesses worldwide, the Wacoal Group has been severely affected by the COVID-19 pandemic. Although the way out of the crisis and the direction in which the world will develop after the crisis remain unclear, we must convert these difficulties into a favorable opportunity to move forward dramatically in the coming new era.
In regard to self-reform, I believe we have reached a moment of truth that will show whether we can create the value needed in a new era and thereby remain a company society views as truly essential. Without fail, we will overcome the current challenges by scrutinizing existing business models and undertaking bold reform that is unconstrained by the past or by established practices. In conjunction with these efforts, anticipating the rapid change in values that is stemming from the COVID-19 crisis, we will foster personnel who are able to put the Group Philosophy into practice through the creation of products loved by customers and the development of new products that meet the needs of the times. Further, we will proactively develop a corporate culture that is conducive to bold risk-taking for growth.
By ensuring that Group employees worldwide have a shared sense of crisis and a common vision of the future and by building relationships of mutual trust with all stakeholders, we will become an entity that society needs more than ever. We will diligently work to increase the corporate value by continuing to have ambition without fear of failure and have modesty without contenting with the past successes, and then contribute to the realization of a sustainable society.
Representative Director and Chairman
Wacoal Holdings Corp.
Continually strive to make the company “Global Wacoal”, and pursue sustainable growth based on the creation of both economic and social value
In just six months, the global outbreak of COVID-19 has changed the world. There is still no clear path for things returning to normal, and we expect the outlook to remain uncertain for some time. However, endeavoring to contribute to society by helping women to express their beauty expresses our founding spirit and is at the core of our management philosophy. No matter what type of social change or crisis occurs, this mission will never change. Wacoal has created a unique innerwear culture by adding new value to innerwear, an item once little more than a commodity. Through the development and marketing of pioneering products that garner the love of customers, we have helped create a society in which women are lively and radiant. The aforementioned achievements represent existential value that the Group must continue to protect.
That said, the definitions of female beauty, as well as the types of beauty women seek, change with the times. For this reason, our products and services will not earn endorsement if they stay the same. In particular, it is not difficult to envision a post-COVID-19 society in which changes in women’s lifestyles lead to changes in the types of innerwear sought. Further, Wacoal might be able to support women’s day-to-day beauty and vitality in fields beyond innerwear. In other words, we should steadily promote business development that is aimed at heightening our existential value by, for example, creating innerwear based on novel concepts or by developing businesses outside the innerwear field.
We are in a “new era” where distribution, the environment, and consumer lifestyles and values are all changing dramatically. Against such a backdrop, and to help customers around the world “express their beauty,” a theme inherent in our corporate philosophy, all members of the Wacoal Group, while thinking about our customers and the future, will continue to strive to create “products loved by customers” and “new products that meet the needs of the times.”
Additionally, in order to implement our corporate philosophy of “contributing to society by helping women express their beauty,” it is necessary for us to work hard on solving social issues by recognizing the impact of our own business activities on the environment and society, and by continuously advancing social business activities through our core business. We will continue to promote the development of both job satisfaction and a good working environment, and work in close coordination with suppliers and business partners to ensure adherence to and respect for social norms related to “human rights,” “labor practices,” “the environment,” and “ethical matters.”
And, by implementing value chain reforms from a thorough customer perspective and evolving the value creation process, we will continue to provide products and services that contribute to realizing a rich and prosperous society.
Representative Director, President and Corporate Officer
Wacoal Holdings Corp.