Wacoal to sell Lecien Corporation to TANAAKK K.K.

Wacoal Holdings Corp. (TSE: 3591) announced today that it will transfer all shares of its consolidated subsidiary Lecien Corporation to TANAAKK K.K., an AI-focused venture company. The decision comes as Wacoal implements reforms outlined in its revised medium-term management plan, aiming to improve profitability and achieve VISION2030 targets. Wacoal expects to record a loss on the sale in the fiscal year ending March 2025, but has not yet quantified the impact on consolidated financial results. Lecien, which manufactures innerwear, handicraft supplies, and lace materials, has been a wholly owned subsidiary since April 2015. TANAAKK, led by Chairman & CEO Shoichiro Tanaka, focuses on developing GAAS (Growth-as-a-Service) platforms and AI software. The share transfer is scheduled to be executed on April 1, 2025, after which Lecien will no longer be included in Wacoal's consolidated financial statements.