Overview
Real Estate

WADAKOHSAN CORPORATION

Wada Kosan develops, plans, and sells condominium units under the 'WAKORE' brand, primarily in the Kobe, Akashi, Hanshin, and Osaka metropolitan areas, having supplied over 22,000 units across 572 buildings since commencing full-scale condominium operations in 1991. The company differentiates itself through designer-led architecture, quality-focused development emphasizing safety and resale value, and outsourcing all sales functions to focus exclusively on product planning and design. In addition to condominium sales, the company operates a rental property business owning 106 buildings with approximately 2,170 units (occupancy rate of ~97%) across multiple proprietary rental brands including WAKORE, VITA, La Maison, and Excide series.

Market Cap
¥13.6B
US$86.8M
EV
¥70.8B
US$451M
Stock¥1,244▲+0.08%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
13.6
x
LTM EV/EBIT
16.6
x
LTM PER
7.0
x
LTM PBR
0.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-48.1%pt
100
Oct 23, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
13.6BUS$86.8MMarket Cap72.2BUS$460M+ Debt14.7BUS$93.7M− Cash0.30BUS$1.90M− Inv. Sec.70.8BUS$451MEV
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Performance & Balance
Revenue 5Y (¥B)
41.8US$266M'22/242.7US$272M'23/238.8US$247M'24/240.1US$256M'25/242.1US$268M'26/2
EBITDA 5Y (¥B)
4.62US$29.4M'22/25.09US$32.4M'23/25.21US$33.2M'24/26.02US$38.3M'25/25.83US$37.1M'26/2
Net Income 5Y (¥B)
2.34US$14.9M'22/22.38US$15.2M'23/22.64US$16.8M'24/23.12US$19.9M'25/22.62US$16.7M'26/2
Capital Structure
33%
67%
EquityD/E 2.05xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
17.3US$110M50.5US$321M'22/212.0US$76.7M44.5US$283M'23/217.6US$112M52.5US$335M'24/217.5US$111M57.4US$365M'25/212.9US$82.2M65.5US$417M'26/2
Shareholders
Top 10 hold 60.4%
1
Shisanni Co., Ltd.
22.68%
2
Noriyoshi WADA
13.50%
3
Takenao WADA
9.56%
4
Osaka Small and Medium Business Investment & Consultation Co., Ltd.
5.09%
5
Custody Bank of Japan, Ltd. (Trust Account)
2.29%
6
Osamu KASHIWAGI
1.81%
7
Kenryu Investment Co., Ltd.
1.67%
8
Mizutani Shoten Gomei Kaisha (Limited Partnership)
1.54%
9
Takateru KONO
1.14%
10
Nomura Securities Co., Ltd.
1.14%
Management
13 officers
Takenao WADA
Representative Director, Chairman
Dec 1996 Joined the Company May 2005 Director of the Company May 2008 Managing Director of the Company May 2012 Senior Managing Director of the Company May 2020 Vice President, Director of the Company May 2022 Representative Director, Chairman of the Company (current)
1971-09-03
Toshiya MIZOMOTO
Representative Director, President
Apr 1983 Joined Osaka Bank, Ltd. (now Kansai Mirai Bank, Ltd.) Nov 2005 Joined the Company May 2010 Executive Officer, General Manager of Planning Division of the Company Apr 2016 Executive Officer, General Manager of Corporate Planning Division of the Company May 2016 Director, General Manager of Corporate Planning Division of the Company May 2021 Managing Director, General Manager of Corporate Planning Division of the Company Apr 2022 Managing Director of the Company May 2022 Representative Director, President of the Company (current)
1961-01-16
Satoshi HAMAMOTO
Senior Managing Director
Nov 1995 Joined the Company May 2014 Executive Officer, General Manager of Condominium Sales Division II of the Company Apr 2016 Executive Officer of the Company May 2016 Director of the Company May 2019 Managing Director of the Company May 2022 Senior Managing Director of the Company (current)
1965-03-04
Yasunari OTSUKI
Director
Aug 2005 Joined the Company May 2018 Executive Officer, General Manager of Real Estate Business Division of the Company Apr 2022 Executive Officer, General Manager of Leasing Business Division of the Company May 2022 Director, General Manager of Leasing Business Division of the Company Mar 2024 Director of the Company (current)
1965-03-05
Katsuhisa HAYANO
Director
Jan 2003 Joined the Company Apr 2020 General Manager of Condominium Sales Division I of the Company May 2022 Executive Officer, General Manager of Condominium Sales Division I of the Company May 2025 Director of the Company (current)
1962-11-05
Tomio SAITO
Director
Apr 1963 Joined Hyogo Prefecture Apr 1995 Director-General, West Harima Prefectural Office, Hyogo Prefecture Apr 2001 Treasurer, Hyogo Prefecture Sep 2001 Vice Governor, Hyogo Prefecture Oct 2009 Chairman, Hyogo International Exchange Association (Public Interest Incorporated Foundation) Apr 2014 Director, Safety Management Education and Research Center, Kansai University of International Studies Apr 2015 Vice President, Kansai University of International Studies May 2015 Director of the Company (current) Mar 2019 President, Kobe Yamanote University Mar 2024 Professor Emeritus, Kansai University of International Studies (current)
1945-01-20
Tokuo MASUDA
Director
Apr 1994 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Feb 2026 Joined the Company May 2026 Director of the Company (current)
1970-05-17
Tokihiro TANIGUCHI
Director
Apr 1977 Joined City of Kobe Apr 2008 Director-General, Environment Bureau, City of Kobe Apr 2010 Director-General, Industrial Promotion Bureau, City of Kobe Apr 2014 Audit Committee Member, City of Kobe Mar 2020 Auditor, Social Welfare Corporation Jesus Dan (current) May 2021 Director of the Company (current) Oct 2022 Board Member, Social Welfare Corporation Shinkoen (current) Jun 2023 Director, Coop Kobe (current)
1955-01-05
Yuji OTAKA
Director
Apr 1984 Joined Taiyo Kobe Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2017 Adviser, Auto System Co., Ltd. May 2017 President, Representative Director, Auto System Co., Ltd. Jun 2019 President, Representative Director, Keihanshin Kogyo Co., Ltd. Oct 2022 Part-time Director, Konankai Public Interest Incorporated Association May 2024 Director of the Company (current)
1961-12-23
Shinji MIKI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1986 Joined Hyogo Mutual Bank, Ltd. (now Minato Bank, Ltd.) Apr 2020 Joined the Company, General Manager of Internal Audit Office May 2023 Director (Full-time Audit and Supervisory Committee Member) of the Company (current)
1963-06-01
Tadaaki SUNAMI
Director, Audit and Supervisory Committee Member
Apr 1976 Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 1983 Joined Sunami Shoji Co., Ltd. Dec 1983 Director, Sunami Shoji Co., Ltd. Jan 1988 Managing Director, Sunami Shoji Co., Ltd. Aug 1988 President, Representative Director, Sunami Shoji Co., Ltd. May 2021 Director, Audit and Supervisory Committee Member of the Company (current) May 2024 Chairman, Director, Sunami Shoji Co., Ltd. (current)
1952-10-22
Osamu SONODA
Director, Audit and Supervisory Committee Member
Apr 1991 Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Oct 1996 Joined Chuo Audit Corporation Dec 2001 Joined Oken Co., Ltd. Sep 2004 Opened Sonoda Certified Public Accountant Office (current) Aug 2016 Representative Partner, Eichi Tax Corporation May 2021 Director, Audit and Supervisory Committee Member of the Company (current)
1968-09-06
Naoko NAKATSUKASA
Director, Audit and Supervisory Committee Member
Apr 1994 Joined Chuo Sogo Law Office (now Chuo Sogo Law Office, Attorney Corporation) Apr 2014 Visiting Professor, Kyoto University Law School Jun 2015 Outside Director, Audit and Supervisory Committee Member, Nakabayashi Co., Ltd. Jun 2021 Outside Director, Audit and Supervisory Committee Member, Yamazen Corporation (current) May 2023 Director, Audit and Supervisory Committee Member of the Company (current)
1965-04-08
Large Shareholding Reports
Shisanni Co., Ltd.
2026-05-13
25.00%→22.52%
Annual report (as of 2026-08-31): 22.68%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-09
Semi-Annual Securities Report
Period: Mar 2026 – Aug 2026
TDnet
2026-10-02
Q2 Earnings Flash
FY ending Feb 2027
TDnet
2026-07-10
Q1 Earnings Flash
FY ending Feb 2027
EDINET
2026-05-25
Annual Securities Report
Period: Mar 2025 – Feb 2026
EDINET
2026-05-13
Large Shareholding Report
TDnet
2026-01-09
Q3 Earnings Flash
FY ending Feb 2026
EDINET
2025-10-10
Semi-Annual Securities Report
Period: Mar 2025 – Aug 2025
TDnet
2025-07-11
Q1 Earnings Flash
FY ending Feb 2026
EDINET
2025-05-29
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-07
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-11
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
EDINETAmended
2024-07-05
Amended Annual Securities Report
Period: Mar 2023 – Feb 2024
TDnet
2024-07-05
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-05-30
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-12
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-13
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-29
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-13
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINET
2022-10-14
Quarterly Securities Report
EDINET
2022-07-15
Quarterly Securities Report
EDINET
2022-05-30
Annual Securities Report
EDINET
2022-01-14
Quarterly Securities Report
EDINET
2021-10-15
Quarterly Securities Report
EDINET
2021-07-13
Quarterly Securities Report
EDINET
2021-05-28
Annual Securities Report
EDINET
2021-01-14
Quarterly Securities Report
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