JAPAN: Sluggish Economy Undermines Sales At Wacoal
The loss of momentum in the Japanese economy and the slowdown in the US have led to a 2.4 per cent decrease in net sales for Wacoal Corp of Kyoto, Japan, one of the world's largest manufacturers of intimate apparel. For the fiscal year ended 31 March 2001, net sales fell to 162.0 billion yen ($1,290.6 million), against 169.5 billion yen a year ago. Operating income decreased to 9.6 billion yen ($76.7 million) compared with 11.1 billion yen in 2000.
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