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Overview
Retail Trade

WA,Inc.

Double A Co., Ltd. is a Japanese fashion company primarily engaged in the planning and retail sales of women's footwear and apparel under multiple proprietary brands, including ORiental TRaffic, ORTR, NIKARU, Himiko, and Misch Masch. The company operates 175 domestic retail stores and 37 overseas stores across Hong Kong, Macau, and Taiwan, complemented by online sales through its own EC platform and major marketplaces such as ZOZOTOWN. Its competitive strengths lie in vertically integrated product development—combining in-house design, quality control through partner factories, and data-driven demand forecasting via pre-season reservation sales.

Market Cap
¥26.8B
US$171M
EV
¥24.5B
US$156M
Stock¥1,406▼-0.35%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
25.3
x
LTM EV/EBIT
68.1
x
LTM PER
108.7
x
LTM PBR
2.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-15.7%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jan 29, 26Q3 earnings announcement
MC → EV Bridge
26.8BUS$171MMarket Cap0.80BUS$5.10M+ Debt2.93BUS$18.7M− Cash0.25BUS$1.56M− Inv. Sec.24.5BUS$156MEV
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Performance & Balance
Revenue 5Y (¥B)
15.7US$100M'22/117.6US$112M'23/121.3US$136M'24/122.8US$145M'25/123.3US$149M'26/1
EBITDA 5Y (¥B)
1.58US$10.1M'22/11.70US$10.8M'23/12.29US$14.6M'24/12.27US$14.5M'25/11.67US$10.7M'26/1
Net Income 5Y (¥B)
0.71US$4.51M'22/10.69US$4.39M'23/11.16US$7.42M'24/11.00US$6.35M'25/10.69US$4.39M'26/1
Capital Structure
93%
EquityD/E 0.07xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
3.82US$24.4M0.27US$1.75M'22/13.53US$22.5M0.40US$2.53M'23/13.40US$21.7M0.37US$2.38M'24/13.10US$19.8M0.32US$2.01M'25/12.89US$18.4M0.36US$2.29M'26/1
Shareholders
Top 10 hold 67.2%
as of 2026-07-31 · Source: Annual Securities Report
1
Junwei XIAO
48.23%
2
Yang ZHAO
6.17%
3
Yun DING
4.19%
4
X Asset Co., Ltd.
2.88%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
2.03%
6
FUTU SECURITIES INTERNATIONAL (HONG KONG) LIMITED (Standing Proxy: moomoo Securities Co., Ltd.)
1.57%
7
Nomura Securities Co., Ltd.
0.83%
8
Taiho HITO
0.46%
9
Keisei TACHI
0.45%
10
JPMorgan Securities Japan Co., Ltd.
0.43%
Management
8 officers
Junwei XIAO
Representative Director
Apr 1998 Joined Maruchi Sangyo Co., Ltd. Feb 2002 Established Chokutsu Kikaku Co., Ltd. (now the Company); Representative Director (current) May 2020 Representative Director, Himiko Co., Ltd. (current)
1972-09-10
Yasuyo NAKAI
Director
May 2003 Joined Chokutsu Kikaku Co., Ltd. (now the Company) Oct 2008 General Manager, Merchandise Department Nov 2013 Director in charge of Planning, Advertising and Distribution Feb 2018 Director (current) May 2020 Representative Director, Himiko Co., Ltd. (current)
1982-04-12
Emi IWASE
Director
Jun 2007 Joined Chokutsu Kikaku Co., Ltd. (now the Company) Feb 2018 General Manager, Merchandise Department May 2019 Director, General Manager, Merchandise Department Apr 2025 Director (current) May 2025 Director, Himiko Co., Ltd. (current)
1983-12-10
Akio SAGAWA
Director (Audit and Supervisory Committee Member)
Apr 1999 Entered Legal Training and Research Institute Oct 2000 Registered as attorney-at-law Oct 2000 Joined Furuta & Associates Law Office (now Claire Law Office) Jun 2007 Audit & Supervisory Board Member, ITmedia Inc. Nov 2008 Audit & Supervisory Board Member, the Company Mar 2014 Established A. Sagawa Law Office; Representative (current) Jun 2016 Director (Audit and Supervisory Committee Member), ITmedia Inc. Sep 2017 Audit & Supervisory Board Member, Haronet Inc. (now SFIDA X Inc.) Nov 2017 Established SAGAWA CONSULTING FIRM SINGLE MEMBER LIMITED LIABILITY COMPANY; Legal Representative (current) May 2020 Audit & Supervisory Board Member, Himiko Co., Ltd. (current) Jun 2020 Audit & Supervisory Board Member, Accelatech Co., Ltd. (current) Apr 2024 Director (Audit and Supervisory Committee Member), the Company (current)
1973-03-12
Koichi SATO
Director (Audit and Supervisory Committee Member)
Apr 1991 Joined Sato Spring Co., Ltd. Jul 1994 Joined Taniguchi Labor Management Office Nov 1999 Registered as Certified Social Insurance and Labor Consultant Apr 2000 Established Sato Social Insurance and Labor Consultant Office (now HR Plus Social Insurance and Labor Consultant Corporation); Representative Jun 2016 Representative Partner, HR Plus Social Insurance and Labor Consultant Corporation, following incorporation of Sato Social Insurance and Labor Consultant Office (current) Jun 2017 Director (Audit and Supervisory Committee Member), ITmedia Inc. (current) Jan 2018 Audit & Supervisory Board Member, the Company Jun 2019 Director, General Incorporated Association Pharmacy Co-creation Future Human Resources Development Organization (current) Apr 2024 Director (Audit and Supervisory Committee Member), the Company (current) Aug 2025 Director, Agent Glow Co., Ltd. Feb 2026 Director (Audit and Supervisory Committee Member), Agent Glow Co., Ltd. (current)
1968-11-30
Takumi SUGANUMA
Director (Audit and Supervisory Committee Member)
Oct 2002 Joined Tohmatsu Audit LLC (now Deloitte Touche Tohmatsu LLC) Dec 2004 Seconded to Jasdaq Securities Exchange, Inc. (now Japan Exchange Group, Inc.) May 2005 Registered as Certified Public Accountant Dec 2012 Registered as attorney-at-law Dec 2012 Joined Claire Law Office Dec 2015 Established Link Partners Law Office; Managing Partner (current) Jul 2016 Audit & Supervisory Board Member, Basic Inc. May 2017 Director, the Company Apr 2018 Director (Audit and Supervisory Committee Member), Basic Inc. (current) Dec 2018 Director, jig.jp Inc. (current) Sep 2020 Audit & Supervisory Board Member, Arent Inc. (current) Apr 2024 Director (Audit and Supervisory Committee Member), the Company (current) Aug 2025 Director, Agent Glow Co., Ltd. Feb 2026 Director (Audit and Supervisory Committee Member), Agent Glow Co., Ltd. (current)
1981-02-16
Takahiro OCHIAI
Director (Audit and Supervisory Committee Member)
Apr 1983 Joined Nippon Ham Co., Ltd. Sep 1988 Joined Yoshida Accounting Office Mar 1991 Registered as tax accountant Sep 1991 Joined Consulting Alpha Co., Ltd. Sep 1996 Established Ochiai Accounting Office; Representative (current) Nov 2009 Accounting Advisor, Sanritsu Automation Co., Ltd. (current) Jan 2018 Audit & Supervisory Board Member, the Company May 2019 Director, the Company Apr 2024 Director (Audit and Supervisory Committee Member), the Company (current)
1961-02-28
Yo HAYASAKA
Director (Audit and Supervisory Committee Member)
Apr 1991 Joined Yamaichi Securities Co., Ltd. Jun 1998 Joined Teikoku Databank, Ltd. Mar 2005 Joined Shinko Securities Co., Ltd. (now Mizuho Securities Co., Ltd.) Sep 2022 Established peace of cake Inc.; Representative Director (current) Mar 2023 Audit & Supervisory Board Member, HUGE Inc. Mar 2024 Audit & Supervisory Board Member, Utonic Co., Ltd. (current) Apr 2025 Director (Audit and Supervisory Committee Member), the Company (current)
1969-03-25
Large Shareholding Reports
Junwei XIAO
2026-04-21
51.15%→48.24%
Annual report (as of 2026-07-31): 48.23%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-14
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
View PDF →
TDnet
2026-09-14
Q2 Earnings Flash
FY ending Jan 2027
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TDnet
2026-06-12
Q1 Earnings Flash
FY ending Jan 2027
View PDF →
EDINET
2026-04-27
Annual Securities Report
Period: Feb 2025 – Jan 2026
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EDINET
2026-04-21
Large Shareholding Report
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TDnet
2025-12-15
Q3 Earnings Flash
FY ending Jan 2026
View PDF →
EDINET
2025-09-12
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
View PDF →
TDnet
2025-06-13
Q1 Earnings Flash
FY ending Jan 2026
View PDF →
EDINET
2025-04-28
Annual Securities Report
Period: Feb 2024 – Jan 2025
View PDF →
TDnet
2024-12-13
Q3 Earnings Flash
FY ending Jan 2025
View PDF →
EDINET
2024-09-13
Semi-Annual Securities Report
Period: Feb 2024 – Jan 2025
View PDF →
EDINET
2024-06-14
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
View PDF →
TDnet
2024-06-14
Q1 Earnings Flash
FY ending Jan 2025
View PDF →
EDINET
2024-04-30
Annual Securities Report
Period: Feb 2023 – Jan 2024
View PDF →
EDINET
2023-12-15
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
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EDINET
2023-09-14
Quarterly Securities Report
Period: May 2023 – Jul 2023
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EDINET
2023-06-14
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
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EDINET
2023-04-28
Annual Securities Report
Period: Feb 2022 – Jan 2023
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EDINET
2022-12-15
Quarterly Securities Report
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EDINET
2022-09-14
Quarterly Securities Report
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EDINETAmended
2022-08-12
Amended Annual Securities Report
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EDINETAmended
2022-08-12
Amended Annual Securities Report
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EDINETAmended
2022-08-12
Amended Annual Securities Report
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EDINET
2022-06-14
Quarterly Securities Report
View PDF →
EDINET
2022-04-28
Annual Securities Report
View PDF →
EDINET
2021-12-15
Quarterly Securities Report
View PDF →
EDINET
2021-09-14
Quarterly Securities Report
View PDF →
EDINET
2021-06-14
Quarterly Securities Report
View PDF →
EDINETAmended
2021-05-13
Amended Quarterly Securities Report
View PDF →
EDINET
2021-04-30
Annual Securities Report
View PDF →
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