JAPAN: Equity Loss Pushes Wacoal FY Profit Down 42%
Leading intimate apparel manufacturer Wacoal Corp on Thursday reported a 42 per cent year-on-year plunge in annual net profit to 2.9 billion yen due to losses on equity holdings. The women's underwear maker said sales edged up 0.5 per cent to 163.7 billion yen on the back of strong sales of its summer and autumn products and revealed plans to expand its network of specialty private label stores to 100 from 57.
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