TOKYO -- Major Japanese apparel companies World and TSI Holdings announced on Wednesday that they will merge their operations, seeking to cut costs and survive as the domestic market shrinks amid a declining and aging population.
A new holding company, Infinity United, will be established from March 1, 2027, with World and TSI Holdings becoming subsidiaries. The two companies' sales forecasts for the year ending February 2027 add up to 500 billion yen ($3.16 billion), while operating profits total 26 billion yen.