Overview
Services

WDB coco CO.,LTD.

WDB Coco is a Contract Research Organization (CRO) specializing in pharmacovigilance and pharmaceutical development support services for drug and medical device companies in Japan. The company offers five core service lines: Safety Information Management (pharmacovigilance), Post-Marketing Surveillance (PMS) support, Clinical Research support, Medical Device development support, and Clinical Trial/Regulatory Affairs/Quality Assurance services. Its primary competitive strength lies in its specialized expertise in safety information management, covering adverse event data entry, PMDA reporting, Japanese-English translation, and document QC throughout the drug development lifecycle.

Market Cap
¥6.12B
US$39.0M
EV
¥2.26B
US$14.4M
Stock¥2,544▼-0.55%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.3
x
LTM EV/EBIT
2.4
x
LTM PER
9.4
x
LTM PBR
1.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-27.3%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
6.12BUS$39.0MMarket Cap0.08BUS$0.51M+ Debt3.94BUS$25.2M− Cash0.00BUS$0.00M− Inv. Sec.2.26BUS$14.4MEV
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Performance & Balance
Revenue 5Y (¥B)
3.62US$23.1M'22/34.07US$26.0M'23/34.60US$29.3M'24/35.33US$34.0M'25/34.82US$30.7M'26/3
EBITDA 5Y (¥B)
0.98US$6.26M'22/31.12US$7.12M'23/31.30US$8.32M'24/31.36US$8.68M'25/31.01US$6.46M'26/3
Net Income 5Y (¥B)
0.65US$4.13M'22/30.74US$4.74M'23/30.86US$5.47M'24/30.91US$5.82M'25/30.68US$4.33M'26/3
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.89US$12.0M0.03US$0.21M'22/32.00US$12.8M0.02US$0.16M'23/32.66US$17.0M0.03US$0.17M'24/33.48US$22.2M0.03US$0.19M'25/33.76US$24.0M0.08US$0.51M'26/3
Shareholders
Top 10 hold 80.7%
1
WDB HOLDINGS CO.,LTD.
67.66%
2
HIKARI TSUSHIN,INC.
4.00%
3
Haruhiko TANIGUCHI
2.49%
4
Daisuke GOMI
1.41%
5
Custody Bank of Japan, Ltd. (Trust Account)
1.21%
6
WDB coco CO.,LTD. Employee Stock Ownership Association
0.95%
7
Ueda Yagi Tanshi Co., Ltd.
0.84%
8
Hatsune NISHIMORI
0.75%
9
The Master Trust Bank of Japan, Ltd. (Trust Account)
0.72%
10
SBI SECURITIES Co., Ltd.
0.69%
Management
11 officers
Haruhiko TANIGUCHI
Representative Director, President
Mar 1999 Joined WDB Co., Ltd. Apr 2005 Executive Officer, WDB Co., Ltd. Jun 2012 Director, WDB Co., Ltd. Jun 2014 Director, the Company Nov 2014 Representative Director, President, the Company (current)
1975-04-16
Hatsune HIRAMITSU
Director, General Manager of Regulatory Affairs and Quality Assurance Department and General Manager of Evidence Generation Department
Apr 2008 Joined WDB Co., Ltd. Jul 2014 Executive Officer, the Company Jun 2016 Director, the Company Jan 2019 Director, General Manager of Contract Business Division, the Company Apr 2020 Director, General Manager of Contract Sales Department, the Company Apr 2024 Director, General Manager of Contract Business Management Department, the Company Apr 2026 Director, General Manager of Regulatory Affairs and Quality Assurance Department and General Manager of Evidence Generation Department, the Company (current)
1982-06-13
Motoyuki FUJIWARA
Director, General Manager of Process Development Department
Mar 2007 Joined WDB Co., Ltd. Apr 2011 Executive Officer, the Company Jun 2012 Director, the Company Jun 2014 Analysis Team, WDB Co., Ltd. Apr 2017 General Manager of Contract Business Division, the Company Jan 2019 General Manager of Administration Division, the Company Feb 2019 Director, General Manager of Administration Division, the Company Apr 2020 Director, General Manager of Corporate Management Department, the Company May 2021 Director, General Manager of Administration Division, the Company Apr 2024 Director, General Manager of Productivity Monitoring Office, the Company Feb 2025 Director, General Manager of Process Development Department, the Company (current)
1976-09-29
Atsushi IMAMURA
Director, General Manager of Clinical Development Department, General Manager of Evidence Generation Department and General Manager of Sales Department
Mar 1998 Joined WDB Co., Ltd. Apr 2010 Director, WDB Medical Co., Ltd. (now the Company) Apr 2012 Director, the Company Mar 2013 Director, Denjo Systems Co., Ltd. (now the Company) Nov 2014 Representative Director, Denjo Systems Co., Ltd. (now the Company) Jun 2023 Executive Officer, General Manager of Clinical Research Business Division, the Company May 2025 Executive Officer, General Manager of Clinical Development Business Division and General Manager of Contract Sales Department, the Company Jun 2025 Director, General Manager of Clinical Development Business Division and General Manager of Contract Sales Department, the Company Apr 2026 Director, General Manager of Clinical Development Department, General Manager of Evidence Generation Department and General Manager of Sales Department, the Company (current)
1974-05-11
Kazuki SAITO
Director, General Manager of Corporate Management Department and General Manager of Human Resources Department
Mar 2007 Joined WDB Co., Ltd. Apr 2021 General Manager of Corporate Management Department, the Company Apr 2024 Executive Officer, General Manager of Corporate Management Department, the Company May 2025 Executive Officer, General Manager of Corporate Management Department and General Manager of Human Resources Department, the Company Jun 2025 Director, General Manager of Corporate Management Department and General Manager of Human Resources Department, the Company (current)
1982-02-14
Kenta YOKOGAWA
Director
Apr 2001 Joined Sogo Keiri Kenkyusho Co., Ltd. Dec 2007 Joined Deloitte Touche Tohmatsu LLC Aug 2013 Joined Minato Kobe Tax Accountants Corporation Dec 2013 Registered as Certified Public Accountant Mar 2015 Representative Director, Jigyo Sozo Lab Co., Ltd. (now crest plus Co., Ltd.) (current) May 2015 Representative, Yokogawa CPA Office (current) Aug 2016 Representative Partner, CREST Tax Accountants Corporation (current) Mar 2017 Audit & Supervisory Board Member, Clinical Medicine Research Institute Co., Ltd. Mar 2017 Auditor, Medical Imaging Promotion Organization (General Incorporated Association) Jun 2017 Outside Audit & Supervisory Board Member, Medisere Co., Ltd. Jun 2018 Outside Audit & Supervisory Board Member, the Company Jun 2019 Outside Director, the Company (current) Jan 2021 Outside Director, mediVR, Inc. (current) Nov 2023 Outside Director, GastroMedica Co., Ltd. (current)
1978-10-03
Osamu OI
Director
Apr 1995 Registered as Attorney-at-Law Apr 2002 Partner, Shohaku Law Office (current) Feb 2003 Registered as Attorney-at-Law in New York State, USA Nov 2018 Outside Audit & Supervisory Board Member, the Company Jun 2020 Outside Director, the Company (current) Nov 2020 Outside Audit & Supervisory Board Member, Prodilight Co., Ltd. Nov 2024 Outside Director (Audit and Supervisory Committee Member), Prodilight Co., Ltd. (current) Jun 2025 Non-Executive Director, Oy Medfiles Ltd. (current)
1967-07-08
Miki OTSUKA
Director
Apr 1986 Joined Okuuchi Building Co., Ltd. Sep 1986 Joined Work Data Bank Co., Ltd. (now WDB Holdings Co., Ltd.) Nov 1995 Registered as Certified Social Insurance and Labor Consultant Oct 1996 Director, Work Data Bank Co., Ltd. (now WDB Holdings Co., Ltd.) Jul 2000 Senior Managing Director, Work Data Bank Co., Ltd. (now WDB Holdings Co., Ltd.) (current) Apr 2010 Director, Business Succession Partners Co., Ltd. (now WDB Business Succession Partners Co., Ltd.) (current) Apr 2011 Representative Director, the Company Nov 2011 Senior Managing Director, WDB Co., Ltd. (current) Dec 2012 Director, WDB Engineering Co., Ltd. (now WDB Co., Ltd.) (current) Mar 2013 Representative Director, Denjo Systems Co., Ltd. (now the Company) Apr 2014 Representative Director, WDB University Co., Ltd. Jun 2015 Representative Director, WDB Dokuho Co., Ltd. (current) Feb 2017 Director, Nezot Co., Ltd. (current) Mar 2017 Chairman, Oy Medfiles Ltd. (current) Jun 2017 Representative Director, Cobridge Co., Ltd. (current) Jun 2020 Director, WDB Clinical Research Co., Ltd. (now the Company) Jun 2020 Director, WDB Chemical Laboratory Co., Ltd. Jun 2020 Director, Kaken Genex Co., Ltd.
Joichi SAITO
Full-time Audit & Supervisory Board Member
Apr 1980 Joined The Bank of Tokyo, Ltd. (now MUFG Bank, Ltd.) Jun 2004 General Manager, Mumbai Branch, The Bank of Tokyo-Mitsubishi, Ltd. (now MUFG Bank, Ltd.) Oct 2009 Joined Mitsubishi UFJ Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Apr 2016 Joined WDB Co., Ltd. Apr 2016 General Manager, Corporate Management Department, WDB Holdings Co., Ltd. Feb 2017 Director, the Company Oct 2018 Audit & Supervisory Board Member, the Company (current)
1957-01-29
Toshihiko KOIDE
Audit & Supervisory Board Member
Apr 1986 Joined Hapag-Lloyd Japan K.K. Oct 1991 Joined Asahi Shinwa Certified Public Accountants (now Azsa LLC) May 1993 Transferred to Ohta Showa Audit Corporation (now Shin Nihon LLC) Apr 1995 Registered as Certified Public Accountant Feb 1996 Joined Ohta Showa Ernst & Young Co., Ltd. (now EY Tax Co., Ltd.) Nov 1999 Representative, Koide Accounting Office (current) Nov 2005 Representative Director, Magnit Global Japan G.K. (current) Jun 2019 Outside Audit & Supervisory Board Member, the Company (current)
1961-08-07
Yusuke ASAMI
Audit & Supervisory Board Member
Apr 1995 Registered as Attorney-at-Law, joined Asami Shoichi Law Office (now Asami Law Office) Jun 2000 Partner, Asami Law Office (current) Jul 2008 Director, Shohei Gakuen Educational Corporation (current) Jun 2020 Outside Audit & Supervisory Board Member, the Company (current) Jul 2020 Member, Suginami City Information Disclosure and Personal Information Protection Council (current) Jun 2022 Outside Audit & Supervisory Board Member, King Co., Ltd. (current) Sep 2023 Director, Medical Corporation Shimoda Midorishinkai (current)
1965-08-13
Large Shareholding Reports
WDB Holdings Co., Ltd.
2025-10-01
71.21%→67.66%
Annual report (as of 2026-03-31): 67.66%
WDB Holdings Co., Ltd.
2025-09-08
74.97%→71.21%
Annual report (as of 2026-03-31): 67.66%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-06-02
株主総会招集通知
TDnet
2026-02-06
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
EDINET
2025-10-01
Large Shareholding Report
EDINET
2025-09-08
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-30
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINETAmended
2021-11-26
Amended Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-28
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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