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Wacoal's "Prohibition of Multiple Industries" Lifted?

Jun 25, 2018.Ichiro KumegawaTokyo, JP
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When mentioning Kyoto in the fashion industry, intimate apparel company Wacoal Holdings is considered the stronghold in the premises. Currently, President Yoshitaka Tsukamoto (70), after a general shareholders' meeting in June, relinquished his position over to the Vice President Hironobu Yasuhara. The company’s subsidiary, Wacoal, Senior Managing Executive Officer, Tomoyasu Ito, will become the President of the company while Yasuhara who was also the previous president of Wacoal, will become the top Managing Director.

Yoshitaka Tsukamoto succeeded his father, Koichi Tsukamoto the founder and became the President in 1987. As it so happens during the heydays of the bubble era, activities such as eating out and attending F1 races was what Mr. Yoshitaka did in his younger days, more so than often that he failed to concentrate on his business. Kyocera’s then President, Kazuo Inamori had firmly advised him, “Wacoal is your business. Focus.” The comment had stuck with Yoshitaka ever since. At the time he took office, he was ridiculed for having it easy as he was the son destined to assume his father’s position. He had proved people wrong as sales had doubled and grew into the world’s leading undergarment manufacturers that exceeded 195.7 billion yen in consolidation during his 31 years as President. An attempt on bridal and cosmetics business at the time was made but if it weren’t for Mr. Inamori’s words, the business probably wouldn’t have thrived and also the fact that Victoria’s Secret had not yet been introduced in Japan which boasts approximately 380 billion yen in sales as the subsidiary of L Brands. Yoshitaka Tsukamoto assumption to Wacoal HD has solved the "prohibition of multiple industries" is lifted.

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