Fiscal Year Ended March 31, 2016

Financial Results Presentation

Wacoal Holdings Corp.

May 2016

Contents

2

FY2016 Financial Results Summary

FY2017 Business Results Forecast

Reference Figures

ConsolidatedFY2015

Results

FY2016

Results

FY2016

Target

Vs.

Previous FYVs. Target

47.3% 47.3% 47.3% ±0% ±０%

52.7% 52.7% 52.7% ±0% ±０%

SG&A expenses 93,961(Of which, impairment charges

on other intangible assets)(6,021)

(%) 49.0% 45.9% 45.9% -3.1% ±０%

3.7% 6.8% 6.8% ＋3.1% ±０%

202,917 205,000

Operating income

(%)

Profits from sales

(%)

Cost of sales

(%)

Net sales 191,765

95,901

101,043 107,016 108,000

7,082 13,865 14,000

90,722 97,000

2,715 1,159

-1356,783

94,000

14,500

10,000

3,615

-810 -849

457

93,151

Pre-tax net income 11,342 14,957

Net income attributable to

Wacoal Holdings Corp.8,444 11,159

11,152 -2,083

5,973 -984

5,179 -1,099

Financial Results Summary (Consolidated)

3

Overall sales increased year on year, driven by sales of Ai Co., Ltd., a new company in

domestic business, sales expansion at directly managed stores, and the effect of the yen’s

depreciation on overseas business. Profits rose substantially without the impact of the impairment losses of Peach John Co., Ltd. in the previous year.

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(Millions of yen)

Difference

Due to

Current FY

Rate

Difference

Due to

Previous FY

Rate

Wacoal Business (Domestic) 112,203 120,570 119,300 8,367 1,270

Wacoal Business (Overseas) 48,107 51,869 53,000 3,762 -1,131 -85 3,754

Peach John Business 11,626 11,190 12,300 -436 -1,110 2

Other Businesses 19,829 19,288 20,400 -541 -1,112 -1 4

Total 191,765 202,917 205,000 11,152 -2,083-86 3,760

Wacoal Business (Domestic) 8,444 8,810 8,930 366 -120

Wacoal Business (Overseas) 4,776 4,433 4,700 -343 -267 -8 361

Peach John Business -6,296 258 180 6,554 78 1 4

Other Businesses 158 364 190 206 174 -1

Total 7,082 13,865 14,000 6,783 -135 -8 365

Effect of Exchange Rates

Net sales

Operating

income

Vs.

Previous

FY

Vs.

Target

FY2015

Results

FY2016

Results

FY2016

Target

Financial Results Summary (by Segment)

4

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(Millions of yen)

ResultsYear on

YearResults Target

Year on

Year

Compared

with Target

Wacoal Brand Business 58,050 95% 58,241 59,000 100% 99%

Wing Brand Business 25,358 91% 25,416 26,400 100% 96%

Retail Business 13,920 102% 15,809 15,400 114% 103%

Wellness Business 7,112 94% 7,135 7,500 100% 95%

Catalog Sales Business 5,270 89% 5,164 5,500 98% 94%

Intersegment transactions,

etc. -1,786 - -1,642 -2,200 - -

Total 107,924 94% 110,123 111,600 102% 99%

Net Sales of Wacoal

Corp.

FY2015 Net Sales FY2016 Net Sales

Net sales

Summary by Segment—Wacoal Business (Domestic)

5

Operating

income 104%

Net sales: Increase in sales at Wacoal Corp., sales of new company Ai

Operating income: Increase in sales at Wacoal Corp.

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(Millions of yen)

107%

Wacoal International Corp. (U.S) 18,097 116% 20,222 20,000 112% 101%

Wacoal Europe Ltd. 16,054 108% 16,096 16,800 100% 96%

Wacoal China Co., Ltd. 9,490 111% 11,067 11,000 117% 101%

Wacoal International Corp. (U.S) 2,399 141% 2,491 2,260 104% 110%

Wacoal Europe Ltd. 1,741 82% 1,238 1,750 71% 71%

Wacoal China Co., Ltd. 409 333% 487 430 119% 113%

Year on

Year

Compared

with Target

Year on

Year

Net sales

Operating

income

FY2015

Results

FY2016

Results

FY2016

Target

Summary by Segment—Wacoal Business (Overseas)

6

U.S.

WEL

China

Sales: Solid growth of core Wacoal brand, strong performance of EC site and Canada

Operating income: SG&A expenses rose due to higher labor costs despite efforts to control

advertising expenses

Sales: Flat in U.K., steady in U.S. and Australia, sluggish in France

Operating income: Decrease in sales, higher procurement costs due to strong dollar

Sales: Solid in 1H, weakened in 2H (fewer openings of stores targeting middle class segment)

Operating income: Increase in sales

Net sales 108% Operating

income 93%

(Millions of yen)

Net sales 12,277 95% 11,965 13,000 97% 92%

Operating income -127 - 258 180 - 143%

FY2016

Target

Year on

Year

Compared

with Target

Year on

Year

FY2015

Results

FY2016

Results

Summary by Segment: Peach John, Other Business

7 7

PJ

Sales: Weak catalog sales, strong performance at domestic directly managed stores, expansion of

EC site of another company in China business

Operating income: Improved profit from sales reflecting pricing adjustments

Net sales 96％ 6,554 million yen

improvement

Net sales Operating

income 97％ 230％ Lecien

Nanasai

Sales: Solid sales in innerwear, material and hobby businesses, but apparel business struggled

Operating income: Loss despite improved profit from sales due to lower material prices

Sales: Strong growth in sales business driven by orders for new apparel brand

Operating income: Up strongly over previous year reflecting increase in sales

Other Business

*Note: Comparisons exclude impairment losses in FY2015

Operating

income

(Millions of yen)

(Millions of yen)

Lecien 11,768 97% 11,645 13,000 99% 90%

Nanasai 10,121 104% 10,504 9,700 104% 108%

Lecien -209 - -41 -100 - -

Nanasai 255 85% 306 160 120% 191%

Operating

income

Net sales

FY2015

Results

Year on

Year

FY2016

Results

FY2016

Target

Year on

Year

Compared

with Target

Contents

8

FY2016 Financial Results Summary

FY2017 Business Results Forecast

Reference Figures

FY2016 FY2016

Results TargetVs.

Previous FYResults Target

Vs.

Previous FY

Wacoal Business (Domestic) 120,570 120,000 -570 8,810 6,600 -2,210

Wacoal Business (Overseas) 51,869 51,300 -569 4,433 2,700 -1,733

Peach John Business 11,190 12,000 810 258 250 -8

Other Businesses 19,288 19,700 412 364 450 86

Total 202,917 203,000 83 13,865 10,000 -3,865

Net Sales Operating Income

FY2017 FY2017

FY2017 Business Results Forecast

9

(Millions of yen)

Net sales 203 billion yen Operating 10 billion yen

income

＊Dividend (planned) ＝ ¥33.00 per share

FY2016

Results

Vs.

Previous FY

FY2017

2Q Target

Vs.

Previous

FY

FY2017

Target

Vs.

Previous

FY

Net sales 202,917 11,152 104,000 -1,715 203,000 83

Operating income 13,865 6,783 6,000 -3,676 10,000 -3,865

Net income attributable to

Wacoal Holdings Corp.11,159 2,715 6,800 -682 10,000 -1,159

(Exchange rate)

Business Results Forecast

US$1 = 120.14 yen

1 yuan = 19.22 yen

1 pound = 181.31 yen

US$1 = 110 yen

1 yuan = 17 yen

1 pound = 160 yen

10

Analysis of Change in Operating Income versus FY2016

13,000

(Millions of yen)

FY2016 FY2017

13,865

2,200

1,200 600 260

400

10,000

15/3期実績 ワコール売上減少 huit清算費用 海外子会社利益減 為替変動 連結調整 16/3期計画

13,865

Increase in

domestic

expenses,

new building

costs,

provision for

retirement

benefits,

increase in local

taxes, etc.

Expenses

related

to Huit at WEL

Decrease in

sales at

overseas

subsidiaries

Exchange rates Adjustment for

consolidation

Contents

11

FY2016 Financial Results Summary

FY 2017 Business Results Forecast

Reference Figures

Results

Year on

Year Results Target

Year on

Year

Compare

d

with Results

Year on

Year Results Target

Year on

YearCompared

with Target

Wacoal 107,924 94% 110,123 111,600 102% 99% 5,903 85% 6,743 6,600 114% 102%

Peach John 12,277 95% 11,965 13,000 97% 92% -127 ー 258 180 ー 143%

Lecien 11,768 97% 11,645 13,000 99% 90% -209 ー -41 -100 ー ー

Nanasai 10,121 104% 10,504 9,700 104% 108% 255 85% 306 160 120% 191%

Ai ー ー 5,715 5,900 ー 97% ー ー 11 50 ー 22%

Wacoal International

(U.S.)18,097 116% 20,222 20,000 112% 101% 2,399 141% 2,491 2,260 104% 110%

Wacoal Europe Ltd. 16,054 108% 16,096 16,800 100% 96% 1,741 82% 1,238 1,750 71% 71%

Wacoal China 9,490 111% 11,067 11,000 117% 101% 409 333% 487 430 119% 113%

Wacoal Hong Kong 3,056 108% 3,273 3,500 107% 94% 226 119% 313 310 138% 101%

【Performance of Major Subsidiaries (Local Currency Basis)】 Currency

Wacoal International

(U.S.)164,619 104% 168,323 166,700 102% 101% 21,821 127% 20,731 18,800 95% 110% Thousands of

US$

Wacoal Europe Ltd. 90,807 95% 88,771 93,100 98% 95% 9,847 72% 6,828 9,670 69% 71% Thousands of

Pounds

Wacoal China 552,047 100% 575,820 564,000 104% 102% 23,792 305% 25,341 22,000 107% 115% Thousands of

Yuan

Wacoal Hong Kong 223,891 96% 209,664 227,000 94% 92% 16,615 106% 20,046 20,000 121% 100%Thousands of

HK$

FY2016FY2015 FY2015FY2016

Net Sales Operating Income

Major Subsidiaries’ FY2016 Business Results at a Glance

12

(Millions of yen)

Note: Figures are before adjustment for consolidation.

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Results

Year on

Year Target

Year on

Year Results

Year on

Year Target

Year on

Year

Wacoal 110,123 102% 111,000 101% 6,743 114% 4,600 68%

Peach John 11,965 97% 12,500 104% 258 - 250 97%

Lecien 11,645 99% 12,000 103% -41 - 50 -

Nanasai 10,504 104% 10,500 100% 306 120% 250 82%

Ai 5,715 - 6,100 107% 11 - 20 182%

Wacoal International

(U.S.)20,222 112% 18,500 91% 2,491 104% 2,000 80%

Wacoal Europe Ltd. 16,096 100% 13,700 85% 1,238 71% -100 -

Wacoal China 11,067 117% 10,400 94% 487 119% 700 144%

Wacoal Hong Kong 3,273 107% 3,200 98% 313 138% 300 96%

【Performance of Major Subsidiaries (Local Currency Basis)】 Currency

Wacoal International

(U.S.)168,323 102% 168,500 100% 20,731 95% 18,200 88% Thousands of US$

Wacoal Europe Ltd. 88,771 98% 85,800 97% 6,828 69% -630 - Thousands of Pounds

Wacoal China 575,820 104% 613,000 106% 25,341 107% 41,800 165% Thousands of Yuan

Wacoal Hong Kong 209,664 94% 215,500 103% 20,046 121% 20,000 100% Thousands of HK$

Net Sales Operating Income

FY2016 FY2017 FY2016 FY2017

FY2017 Business Results Forecast for Major Subsidiaries

13

(Millions of yen)

Note: Figures are before adjustment for consolidation.

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FY2016

Results TargetYear on

Year

Vs.

Previous

FY

Wacoal Brand Business 58,241 59,000 101% 759

Wing Brand Business 25,416 25,600 101% 184

Retail Business 15,809 17,400 110% 1,591

Wellness Business 7,135 7,200 101% 65

Catalog Sales Business 5,164 5,500 107% 336

Intersegment

transactions, etc.-1,642 -3,700 - -

Total 110,123 111,000 101% 877

FY2017

FY2017 Wacoal Corporation Sales Forecast by Segment

14

(Millions of yen)

Note: Figures are before adjustment for consolidation.

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Information within this document with respect to business plans, forecasts, strategies and other

statements, including business performance figures, is based on Wacoal's assumptions in the light

of the information currently available, and in no way precludes the uncertainties and risks inherent

in these forward-looking statements. Furthermore, actual business results may, as a result of numerous factors, differ significantly from those expressed in statements in this document.