Ladies' underwear manufacturer Wacoal Corp is to become a holding company from 1 October to enable better execution of acquisitions and mergers as well as to allow it to carry out a restructuring strategy, according to Kyodo News Service.

The company will become known as Wacoal Holdings and will remain on the Tokyo Stock Exchange and Osaka Securities Exchange.

Wacoal Holdings will set up a wholly owned subsidiary that will be responsible for Wacoal Corp's existing operations.