FY2026 Second Quarter Business Presentation

November 12, 2025

Wacoal Holdings Corp.

Securities Code：3591

1

C O N T E N T S

1. FY2026 2Q Financial Overview ・・・P.3

2. FY2026 2Q Financial Overview（By Segment） ・・・P.11

3. Finance and Shareholder Returns ・・・P.17

4. Revision of Full-Year Earnings Forecast ・・・P.20

   ・Analysis of Factors for the Revision of Wacoal Corp. Business Results Forecast ・・・P.24

   ・Analysis of Factors for the Revision of Overseas Business Results Forecast ・・・P.31

5. Appendix ・・・P.39

3

Continued from the first quarter, revenue declined due to the sale from

unprofitable businesses in the previous fiscal year

Revenue contribution of Bravissimo, acquired in the previous fiscal year, compensated for revenue to a certain extent, but store closures in Japan and deteriorating market conditions in the U.S. and China gave a negative impact

Gross profit margin improved by 1.4pt YoY mainly due to the sale of unprofitable businesses and higher retail ratio following the acquisition of Bravissimo, despite the impact of decreased revenue

Overseas profit decreased due to the slump in the U.S. and China and the fire at Bravissimo's logistics warehouse in June, but domestic profit returned to the black due to the absence of rebranding costs in the previous year, resulting in an increase in consolidated profit

Business profit significantly increased, supported by a gain on the sale（e.g., Shin-Kyoto Building, dormitories, company condominiums, etc.）

4

(Millions of Yen)

5

Gross profit margin continued to improve despite sales struggles

Business profit grew sluggishly due to Bravissimo warehouse fire

48,789

46,277

46,462

(Millions of Yen) (Millions of Yen) (Millions of Yen) 58.4%

46,341

45,801

43,705 43,367

40,362

44,956

42,555

57.1%

55.7%

27,850

25,834

55.9% 56.6%

24,52426,275

56.7%

56.2%

54.6%

26,233

57.6%

2,371

2,358

25,877

53.

24,78124,364

5%

22,024

24,522

1,445

1,140

1,561

743 687

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2024/3期 2025/3期 2026/

2Q

3期

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2

2024/3期 2025/3期 2026/3

Q

期

~ ~~

2Q 2Q 2Q

ワコール事業（国内） ワコール事業（海外） 合 計 粗利率

ピーチ・ジョン事業 その他

-1,446

-861

-4,840

6

(Millions of Yen)

7

Pevious Year

90.2

Wacoal Business (Domestic)

-0.8

Wacoal Business (Overseas)

+0.5

Peach John Business

+0.4

（Billions of yen）

Current Year 87.5

Other

-2.8

Pevious Year 2.3

Wacoal Business (Domestic)

+1.4

Wacoal Business (Overseas)

-0.7

Peach John Business

+0.1

Other

+0.0

（Billions of yen）

Current Year 3.0

¥2.7 billion decrease

in revenue▼

Impact of closures of department stores, mass retailers, and directly managed

stores (including une nana cool)

+¥4.6 billion from revenue contribution of Bravissimo (acquired in the previous

fiscal year)

Business conditions were difficult, and combined revenue in the U.S. and

China declined by more than ¥3.0 billion.

Revenue remained strong due to successful measures to acquire new customers.

Deconsolidation of Nanasai and Lecien

• Japan

• Europe

• US

• China

• Peach John

¥0.7 billion increase

in business profit▲

Return to profitability achieved due to decrease in SG&A expenses, including the absence of rebranding costs in the previous fiscal year

Bravissimo did not contribute to business profit due to the fire at its logistics warehouse

Decrease reflecting impact of decreased revenue and higher cost of goods attributed to tariffs, etc.

Profit declined due to lower revenue, but gross profit margin was improved by promoting full-price sales.

8

Turnaround from business loss in the previous fiscal year to profitability due to the effect of increased revenue

YoY reduction by approximately 1 billion yen achieved due to successful cost control On the other hand, SG&A ratio worsened due to the impact of decreased revenue

*Based on consolidated figures for the Wacoal Group

51.8

（53.1％）

49.9

48.8

（Billions of yen）

47.7

39.7

（54.3％）

5.1

3.7

2.4

2.4

5.5

2.9

17.7

+0.1

+0.8

+0.1

+0.2

+2.2

+0.3

+2.2

45.6

（52.2％）

5.2

4.5

2.5

2.6

7.7

3.2

19.9

±0

+3.4

+1.9

＋0.3

＋0.2

-1.9

+1.3

5.2

7.9

5.4

2.9

7.9

1.3

21.2

-0.3

＋0.3

-0.3

-0.4

-0.7

+0.1

-0.6

（52.4％）

4.9

8.2

5.1

2.5

7.2

1.4

20.6

＋0.4

＋0.5

-0.3

-0.2

-0.3

-0.1

-1.1

（54.1％）

5.3

8.7

4.8

2.3

6.9

1.3

19.5

-0.1

-0.4

±0

+0.1

-0.4

+0.1

-0.4

（54.5％）

5.2

8.3

4.8

2.4

6.5

1.4

19.1

Other Payment fees

Depreciation & Amortization Logistics expenses Advertising

Rent expenses Personnel expenses

FY2021 1H FY2022 1H FY2023 1H FY2024 1H FY2025 1H FY2026 1H 9

U.S. Accounting Standards

IFRS ※

※ Dueto changesin accountingstandards,depreciationexpensesand payment fees

haveincreasedsince the fiscalyear ending March2023

Driven by the acquisition in the UK, the combined EC ratio of the five companies exceeded 30%, with EC sales trending higher.

（EC ratio：Wacoal 23％、Peach John 52％、Wacoal America 46％、Wacoal Europe 36%、Wacoal China 24％）

（billions of yen）

Growth rate

22.0

23.6

（30.3％）

23.0 22.6

（27.0％）

Growth rate

Total EC sales CAGR

FY2021 1H ～ FY2026 1H ＋5.2％

• Wacoal (Japan)

• Peach John (Japan)

• Wacoal America

• Wacoal Europe

• Wacoal China

： +5.9%

： -5.9%

： +7.6%

： +35.9%

： -7.8%

＋11.6％ 25.2

（31.5％）

0.7

＋13.0％

19.5

（34.6％）

-6％

0.9

+1％

0.9

-1％

（27.0％）

0.9

-28％

（22.8%）

1.0 1.2

1.9

4.2

3.6

-1％

+84％

＋17％

＋28％

-11％

1.0

2.3

2.2

5.4

3.2

+35％

-7%

+16％

-12％

3.1

2.1

6.3

2.8

+4％

-44％

-1％

-14％

3.2

1.2

6.2

2.5

+18％

+3％

-4％

3.8

0.0

6.4

2.4

+52％

-5％

+14％

5.8

0.0

6.1

2.7

7.5

+5％

7.9

+6％

8.4

+7％

8.9

+2％

9.1

＋10％

10.0

*Created on the basis of data before consolidation adjustment.

*Japanese yen basis

(including foreign exchange effects) 10

FY2021 1H FY2022 1H FY2023 1H FY2024 1H FY2025 1H FY2026 1H

*Foreign exchange rate at a settlement term was used

(including foreign exchange effects)