World Co. announced that it will close 358 domestic stores by the end of March 2021, as its performance deteriorated amid the novel coronavirus epidemic. The company will shed about 200 jobs through a voluntary early retirement program, also as part of structural reform measures aimed at improving its profitability. World determined that it needs to reduce its stores and personnel, in addition to its unprofitable brands, with the coronavirus crisis unlikely to end anytime soon. It will scrap five clothing brands, including Aquagirl and Ozoc, for young people, and consider cutting more. The redundancy program, targeting employees aged 40 and over, will begin in September. President Nobuteru Suzuki and other executives will take a monthly pay cut of up to 30 pct. They will receive no bonuses for the current year.
WORLD CO., LTD. is a Japan-based holding company. The Company operates in four businesses through subsidiaries. The brand business is engaged in operating stores which sells ladies, gentlemen and children's apparel and fashion accessories. The investment business aims to optimize the entire business portfolio of the group by directly investing and selling off from the group directly and using the fund indirectly. The digital business proposes and executes digital solutions such as EC mall business specialized in fashion, other company's EC business, business consignment of information and logistics system. The platform business provides support for space creation through production and procurement of clothing items and clothing accessories, trade and furniture manufacturing and sales.
WORLD CO., LTD. 
