Medium-Term Management Plan 2029
(Fiscal Years Ending March 2027 to March 2029)
The Wacoal Group announced its Medium-Term Management Plan 2029, covering the fiscal years ending March 2027 through March 2029, in June 2026.
Basic Policy of the Medium-Term Management Plan 2029
Medium-Term Management Plan 2029 is centered on two key themes: Reconstruction and Innovation.
Through these initiatives, we aim to enhance the profitability of existing businesses while building new foundations for growth. In addition, we will improve capital efficiency through ROIC management and pursue sustainable growth in corporate value.
Key Strategies for Achieving VISION2030
Leveraging the creativity, quality, and expertise cultivated since our founding, we aim to achieve sustainable growth and enhance corporate value in the areas of beauty, comfort, and health.
To realize VISION2030, we will focus on the following four strategic priorities:
- Improving profitability and expanding business domains in Japan
- Expanding overseas businesses and building a more profitable business structure
- Strengthening group management capabilities
- Transitioning to a capital-efficient management model
Improving Profitability and Expanding Business Domains in Japan
We will drive both Reconstruction and Innovation in response to changing market conditions and consumer needs, with the aim of improving profitability and strengthening the growth foundation of our domestic business.
Under Reconstruction, we will reform the earnings structure of our core innerwear business while strengthening competitiveness through the expansion of body data-driven solution businesses, growth of the conditioning wear business, and reinforcement of D2C channels.
Under Innovation, we will create new business opportunities through initiatives such as SCANBE, our proprietary Melooop technology, and SPIRAL, a unique cultural asset of the Wacoal Group. Through these efforts, we will pursue sustainable growth beyond the boundaries of our existing businesses.
Expanding Overseas Businesses and Transforming Them into High-Profit Structures
We will drive growth and improve profitability across our global operations by implementing region-specific structural reforms and growth investments tailored to the characteristics of each market in the United States, Europe, China, and Asia.
Strengthening Group Management Capabilities
To ensure effective execution of our strategies, we will establish a management framework capable of driving initiatives across organizational boundaries.
For domestic operations, Wacoal Corp. has established a Structural Reform Office reporting directly to the President to strengthen progress management and issue resolution for key initiatives.
For overseas operations, the former Global Headquarters overseeing all overseas subsidiaries has been reorganized into two headquarters that report directly to the President: the Americas & Europe Headquarters and the China & Asia Headquarters. This new structure will accelerate decision-making and strengthen governance.
Transitioning to a Capital-Efficient Management Model
We will promote ROIC management throughout the Group and optimize our business portfolio.
By balancing growth investments and shareholder returns, while reducing strategic shareholdings and advancing asset-light initiatives, we will practice management that emphasizes capital costs and aims to enhance corporate value over the medium to long term.
Quantitative Targets of the Medium-Term Management Plan 2029
Through Reconstruction and Innovation, we aim to improve profitability while enhancing capital efficiency through the adoption of ROIC management across the Group.
As the effects of these initiatives materialize, we aim to achieve an ROE of 7.0% or higher by the fiscal year ending March 2031. By improving both profitability and capital efficiency, we seek to realize VISION2030 and enhance corporate value over the medium to long term.
Financial Strategy
Financial Policies：
While continuing growth investments that support Reconstruction and Innovation, we will pursue management that emphasizes capital efficiency.
We will embed ROIC management throughout the Group and promote sustainable enhancement of corporate value by optimizing our business portfolio and strengthening decision-making with a clear awareness of capital costs.
Shareholder Returns:
We will provide stable and continuous shareholder returns by maintaining an annual dividend of ¥100 per share and executing share repurchases.
Cash Allocation:
Cash generated under this plan will be strategically allocated to growth investments, shareholder returns, and capital structure optimization.
Growth investments will focus not only on strengthening the competitiveness of existing businesses but also on expanding new value creation areas such as SCANBE and Melooop, as well as pursuing M&A opportunities in the fields of beauty, comfort, and wellness.
In addition, we will improve capital efficiency through the reduction of strategic shareholdings and the promotion of asset-light initiatives, while advancing capital policies that contribute to long-term enhancement of corporate value.
Positioning of the Medium-term Management Plan 2029 in "VISION2030"
To achieve VISION2030, the Wacoal Group is pursuing corporate transformation through three stages:
- Foundation Improvement Phase
- Reconstruction Phase
- Growth Transition Phase
Medium-Term Management Plan 2029 is positioned as the core Reconstruction Phase, during which we will improve earnings power through the reconstruction of existing businesses and the creation of new value.
By establishing a solid foundation for growth during this plan period and realizing the outcomes of Innovation initiatives during the subsequent Growth Transition Phase, we aim to achieve the goals set forth in VISION2030.