The company was founded June 1, 1994 by Mika Noguchi and her now ex-husband, Shoji Noguchi, in Tokyo, Japan. Mika Noguchi, then 29 years old, established a small mail-order company importing American lingerie. The company's first product was the Bomb Bust (ボムバスト) bra, a padded bra imported from the United States. The bra, which was first sold in 1993, became a hit and Peach John's major product. After several years of importing bras, the company began selling their first original design called the Circuit (サーキット) bra in 1998.
As the company continued to expand its product line, in 2001 Peach John nearly succumbed to bankruptcy. After restructuring, the company was able to pay back their 2 billion yen debt in 13 months. In May 2006, the Japanese lingerie maker Wacoal formed a capital alliance with Peach John which allowed Wacoal to hold 49 percent of the company's shares. Then on January 10, 2008, Wacoal bought Noguchi's remaining shares, giving Wacoal full control of Peach John Co., Ltd.