Overview
Chemicals

Waqoo Inc.

Waqoo operates two core business segments: a Medical Support Business and a D2C Business. The Medical Support Business provides contract processing services for blood-derived products in the regenerative medicine field, conducted in an integrated manufacturing-and-sales model through its wholly owned subsidiary CellPro Japan Co., Ltd., which also wholesale sells regenerative medicine raw materials and cosmetics to clinics and aesthetic salons. The D2C Business develops and sells original cosmetic brands—primarily 'HADA NATURE' and the medicated carbonated head spa hair growth product 'sodatel'—using digital marketing and a subscription-based recurring purchase model that generates stable cash flow.

Market Cap
¥8.36B
US$53.3M
EV
¥7.35B
US$46.9M
Stock¥2,346▼-0.04%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
12.0
x
LTM EV/EBIT
12.3
x
LTM PER
16.8
x
LTM PBR
3.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+45.1%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 10, 26Q3 FY2026/09 earnings announced
MC → EV Bridge
8.36BUS$53.3MMarket Cap0.57BUS$3.64M+ Debt1.58BUS$10.1M− Cash0.00BUS$0.00M− Inv. Sec.7.35BUS$46.9MEV
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Performance & Balance
Revenue 5Y (¥B)
4.68US$29.9M'21/92.73US$17.4M'22/91.73US$11.0M'23/91.94US$12.4M'24/91.96US$12.5M'25/9
EBITDA 5Y (¥B)
0.16US$0.99M'21/9-0.03-US$0.21M'22/90.28US$1.81M'23/90.07US$0.44M'24/90.16US$1.04M'25/9
Net Income 5Y (¥B)
0.12US$0.74M'21/9-0.06-US$0.36M'22/90.03US$0.18M'23/9-0.02-US$0.11M'24/90.04US$0.28M'25/9
Capital Structure
81%
19%
EquityD/E 0.23xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.04US$6.65M'21/90.91US$5.78M0.65US$4.12M'22/91.31US$8.32M0.64US$4.05M'23/91.51US$9.60M0.78US$5.00M'24/91.30US$8.31M0.73US$4.66M'25/9
Shareholders
Top 10 hold 82.4%
1
SBC Medical Group Co., Ltd.
54.14%
2
Hiroki INOUE
9.76%
3
M&M Co., Ltd.
5.64%
4
MC Co., Ltd.
5.09%
5
Toshihiko MAEDA
2.15%
6
Bunpei SAMATA
1.53%
7
SBI SECURITIES Co., Ltd.
1.23%
8
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.15%
9
Marukido Co., Ltd.
1.00%
10
Daiwa Securities Co. Ltd.
0.75%
Management
7 officers
Bunpei SAMATA
Representative Director, President; in charge of Overseas Business Division
Mar 2012 Completed Master's Program, Department of Medical Science, Graduate School of Medicine, Kyoto University Mar 2017 Completed Doctoral Program, Department of Medical Science, Graduate School of Medicine, Kyoto University Apr 2017 Researcher, Department of Regenerative Medicine, Center for iPS Cell Research and Application, Kyoto University (current: Part-time Researcher) Apr 2019 Established Cellpro Japan Co., Ltd.; assumed office of Representative Director, President (current) Dec 2023 Appointed Representative Director of the Company (current)
1985-07-02
Keiichi NAKAGAMI
Senior Managing Director; in charge of D2C Business Division and Regenerative Medicine Business Division
Apr 1998 Joined Oracle Corporation Japan Sep 2003 Joined Infosys Limited Mar 2007 Joined Accenture K.K. Feb 2009 Joined the Company Mar 2010 Appointed Senior Managing Director of the Company (current)
1976-01-18
Hiroki INOUE
Chairman of the Board, Director
Apr 1998 Joined Oracle Corporation Japan Jun 2003 Joined Accenture K.K. Nov 2004 Joined CyberAgent, Inc. Feb 2006 Joined Trans Cosmos Inc. Jul 2007 Appointed Representative Director of the Company Dec 2023 Appointed Chairman of the Board, Director of the Company (current)
1975-04-23
Hisashi IKEGAMI
Director
Apr 1977 Joined Seibu Department Stores, Ltd. Aug 1983 Joined Restaurant Seibu Co., Ltd. (now Compass Group Japan Co., Ltd.) Apr 1985 Appointed Director, Sales Department General Manager, D&C Co., Ltd. (now Yoshinoya Holdings Co., Ltd.) Mar 1988 Appointed Director, Sales Planning Office General Manager, Yoshinoya D&C Co., Ltd. (now Yoshinoya Holdings Co., Ltd.) Dec 1989 Appointed Director and Vice President, Yoshinoya West, Inc. Mar 1997 Appointed Director, Management Planning Office General Manager, Yoshinoya D&C Co., Ltd. (now Yoshinoya Holdings Co., Ltd.) May 2000 Appointed Managing Director, Head of Planning Division, Yoshinoya D&C Co., Ltd. Sep 2007 Appointed CEO and President, Yoshinoya America, Inc. Mar 2018 Appointed Chairman of the Board, Director, Arc Meal Co., Ltd. Feb 2021 Appointed Director of the Company (current)
1953-10-14
Hideo YAMASAKI
Statutory Auditor (Audit & Supervisory Board Member)
Oct 1988 Joined Asahi Shinwa & Co. (now Azsa LLC) Jun 1991 Joined Infolink Co., Ltd. Mar 1993 Joined Kanematsu Computer Systems, Ltd. (now Kanematsu Communications Ltd.) Jun 2003 Joined Sanyu Audit Corporation Apr 2007 Joined Business Model Consulting Co., Ltd. Apr 2008 Joined Sanno Co., Ltd. Jan 2014 Appointed Statutory Auditor, Gridmark Inc. Oct 2015 Joined Tender Holdings Co., Ltd. (now Tender Co., Ltd.) Jun 2017 Joined the Company Jul 2017 Appointed Compliance Office General Manager of the Company Jun 2018 Appointed Statutory Auditor of the Company (current)
1964-02-20
Tetsuto WATANABE
Statutory Auditor (Audit & Supervisory Board Member)
Aug 1996 Registered as Certified Public Tax Accountant Jul 2002 Appointed Representative Partner, Watanabe Riesenberg Certified Public Tax Accountants' Corporation (current) Dec 2015 Appointed Statutory Auditor of the Company (current) Dec 2020 Appointed Director, APAMAN Co., Ltd. Jun 2021 Appointed Managing Director, Tokyo Certified Public Tax Accountants' Association (current) Jun 2025 Appointed Member of the Board of Trustees, Rissho University (current) Jul 2025 Appointed Director, Japan Federation of Certified Public Tax Accountants' Associations (current)
1964-02-17
Yoshinobu IKURA
Statutory Auditor (Audit & Supervisory Board Member)
Jan 2008 Joined AZX Sogo Law Offices May 2010 Joined Hirakawa Sogo Law Offices (now Kairos Sogo Law Offices) Feb 2013 Established Ikura Sogo Law Offices; appointed Representative Attorney (current) Dec 2015 Appointed Statutory Auditor of the Company (current) Dec 2016 Appointed Director, CyberSecurity Cloud, Inc. (current) Feb 2022 Appointed Statutory Auditor, ANW Inc. (current) Apr 2022 Appointed Statutory Auditor, HR Cloud Co., Ltd. (current)
1979-05-08
Large Shareholding Reports
Yoshiyuki AIKAWA
2026-04-28
32.90%→27.43%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Yoshiyuki AIKAWA
2026-04-27
32.90%→27.43%
SBC Medical Group Holdings Incorporated
2025-12-25
25.56%→52.81%
Annual report (as of 2026-03-31): 54.14%
Yuki INOUE
2025-12-19
10.68%→9.52%
Annual report (as of 2026-03-31): 9.76%
Yuki INOUE
2025-12-19
17.32%→9.52%
Annual report (as of 2026-03-31): 9.76%
Yoshiyuki AIKAWA
2025-12-19
27.32%→27.25%
Yoshiyuki AIKAWA
2025-11-25
27.43%→27.32%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Yoshiyuki AIKAWA
2025-11-21
27.43%→27.32%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Yoshiyuki AIKAWA
2025-11-20
27.43%→27.32%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-05-14
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINETAmended
2026-04-28
Change Report
EDINET
2026-04-27
Large Shareholding Report
TDnet
2026-02-12
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-25
Large Shareholding Report
EDINET
2025-12-23
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-12-19
Large Shareholding Report
EDINET
2025-12-19
Large Shareholding Report
EDINETAmended
2025-12-19
Change Report
EDINETAmended
2025-11-25
Change Report
EDINETAmended
2025-11-21
Change Report
EDINET
2025-11-20
Large Shareholding Report
TDnet
2025-08-13
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-14
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-13
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-20
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-21
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-23
Annual Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-12
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-12-22
Annual Securities Report
EDINET
2021-08-13
Quarterly Securities Report
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